最新糖心Vlog

ACCTING 3502 - Auditing

North Terrace Campus - Semester 2 - 2020

Audit comprises a fundamental component of the recurrent and strategic activities of nearly all professional occupations. While a small group of jobs focus exclusively on internal and external audit tasks, the majority of commerce graduates will utilise the principles and practices of risk assessment, internal control, systems evaluation and forensic accountability in their professional lives. This course thus aims to provide an introduction to the principles and practices of auditing. In this context, it will also outline and critically examine contemporary audit issues and challenges.

  • General Course Information
    Course Details
    Course Code ACCTING 3502
    Course Auditing
    Coordinating Unit Adelaide Business School
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Prerequisites ACCTING 2501
    Assumed Knowledge 48 units of program attempted and passed
    Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture
    Course Staff

    Course Coordinator: Dr Philip Saj

    Course Timetable

    The full timetable of all activities for this course can be accessed from .

    Tutorials commence in the second week of lectures
  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1) Articulate knowledge of fundamental audit concepts.
    2) Apply critical thinking skills and solve auditing problems through the use of case studies.
    3) Demonstrate the use of Auditing, Assurance Standards and the Code of Ethics for professional Accountants.
    4) Explain the legal framework under which 最新糖心Vlogn company audits are conducted and apply the professions code of conduct.
    5) Demonstrate the ability to undertake research on significant auditing issues and to keep up-to-date with developments in auditing theory and practice.
    6) Outline the role of auditing in society.
    最新糖心Vlog Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    最新糖心Vlog Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1,2,3,4,5,6
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    2,3,4,5,6
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    4
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1,2,3,4,5,6
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    2,3,4
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    4
  • Learning Resources
    Required Resources

    There is one prescribed book for this subject:

    Textbook

    Title: Auditing and Assurance Services in 最新糖心Vlog (Seventh Edition).

    Authors: Gay G. and Simnett R.

    Date of Publication: 2018

    Publisher: McGraw-Hill



    Recommended Resources

    Students may find the following sources helpful in attempting to master the course material. All books listed below can be borrowed from the library.

    Books


    Title:  Audit and Assurance (First Edition).

    Authors:Leung, P.,  Coram, P., Cooper, B.J. and Richardson, P.

    Date of Publication: 2019.

    Publisher: Wiley



    Title: Auditing and Assurance Services A systematic Approach (4th Edition)

    Authors: W F Messier Jr, S M Glover, and D F Prawitt 2006.

    McGraw Hill Irwin

    New York


    Understanding the New Auditing Standards Related to Risk Assessment

    American Institute of Certified Public Accountants 2006.

    American Institute of Certified Public Accountants

    New York

    Other resources in the Barr Smith Library


    最新糖心Vlogn Financial Review

    Business Review Weekly

    Acuity (Journal of the Institute of Chartered Accountants in 最新糖心Vlog and New Zealand)

    In The Black (Journal of CPA 最新糖心Vlog)

    The business sections of daily newspapers

     
    Web sites

    ( CPA 最新糖心Vlog)

    (Institute of Chartered Accountants in 最新糖心Vlog and New Zealand)

    ( Auditing and Assurance Standards Board)

    (Financial Reporting Council)

    (最新糖心Vlogn Securities and Investments Commission)

    Online Learning
    This course uses Canvas extensively. The following material will be posted prior to and during the semester:
    茂聜搂 Echo 360 recordings of lectures
    茂聜搂 Handouts of lecture slides
    茂聜搂 Weekly lecture and tutorial outlines (which, include tutorial questions)
    茂聜搂 Lecture exercises
    茂聜搂 Additional guidance notes
    茂聜搂 Newspaper articles
    茂聜搂 Readings
    茂聜搂 Assessment information
    茂聜搂 links to useful websites
    茂聜搂 Short films
    茂聜搂 Model answers to weekly questions
    茂聜搂 Announcements
    茂聜搂 Marks for in-course assessments
  • Learning & Teaching Activities
    Learning & Teaching Modes
    The prime delivery mode is through one lecture and one tutorial per week. Lectures are of one hour fifty minutes duration. Lectures are recorded, and  are posted on Canvas. 

    Tutorial classes of  fifty minutes duration and commence in week two.  Tutorials are an essential component of this course. Membership of tutorial classes is to be finalised by the end of the second week of semester. Students wishing to swap between tutorial classes after this time are required to present their case to the Lecturer-in-Charge, but should be aware that such a request may not be approved. Students are strongly advised to attend all tutorials.

    Students are expected to come to tutorials well prepared to discuss a set of  Tutorial Questions that are provided in the weekly Lecture and Tutroial Outline. The communication skills developed in tutorials by regularly participating in discussions are considered to be most important by the School, and are highly regarded by employers and professional bodies.

    Answers to Tutorial Questions will be provided at the end of each teaching week through MyUni. Answers to Tutorial Questions are not marked.

    Each week students are also required to complete six Weekly Questions, which are also provided in the weekly Lecture and Tutorial Outline

    Answers to the Weekly Questions  from weeks 3 to 10 will be marked and the marks will be counted towards the overall mark for the semester. (Please see  the information on assessment below).

    Model answers and the marking guide for the Weekly Questions  questions will be posted to MyUni at the end of the week.


    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The 最新糖心Vlog expects full-time students to devote a total of 48 hours per week to their studies. This means that for this course students are expected to commit approximately nine hours of private study, that is, study outside classes. Students in this course are expected to attend all lectures and tutorials through the term.
    Learning Activities Summary
    The following topics are covered in this course. For a more detailed outline of what is covered each week, please see the document titled, "Overview of Topics", which can be found under "Lecture and Tutorial Outlines" on the MyUni site for this course.

    Week 1: Introduction to assurance and auditing; an overview of the auditing process.

    Week 2: Understanding the role of management in the preparation of financial reports. Fundamental audit concepts.

    Week 3: Fundamental audit concepts.

    Week 4: Fundamental audit concepts.

    Week 5: Data in the audit

    Week 6: Client acceptance. Planning the audit: knowledge of the business and evaluating business risk.

    Week 7: Planning the audit: Assessing specific business risks and materiality

    Week 8: Understanding the client's internal controls and testing internal  controls

    Week 9: Substantive tests and completing the audit (part 1)

    Week 10: Completing the audit (part 2); and  the auditor’s reporting obligations.

    Week 11: The professional and regulatory environment (part a) 

    Week 12: The professional and regulatory environment (part 2)  and contemporary issues in auditing.

    Revision Lecture
  • Assessment

    The 最新糖心Vlog's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Weighting Date Learning Outcome
    Weekly Questions from Weeks 3, 4,  5 and 6. 10% 9.00 am on the following Monday. (For example, the weekly questions from week 3 will be due at 9.00am on the Monday of week 4) 1
    Weekly Questions from Weeks 7, 8, 9 and 10 10% 9.00 am on the following Monday 1
    Assignment 30% Monday September 14th at 9.00am   1,2, 3, 5 and 6
    Exam 50% Exam Period 1,2,3,4,5 and 6
    Total: 100%
    Please Note:To pass this course, students must achieve a mark of 50% in the exam and 50% overall.

    Further information on assessment is provided under the tab titled, "Assessment Detail".
    Assessment Detail


    Explanation of each assessable item is as follows:

    Weekly Questions from Weeks 3, 4, 5 and 6: 10% 
    Each week, students are required to answer six questions from the Lecture and Tutorial Outline for the week. From weeks 3 to 6,  answers  to the Weekly Questions are to be submitted through the Quizzes function of MyUni by 9.00am on the following Monday. For example, answers to the six Weekly Questions from the Lecture and Tutorial Outline for Week 3 (week beginning Monday August 10th) are due at 9.00 am on the Monday of Week 4 (Monadfy August 17th).  Answers to the questions  for each week will be marked out of 10.  The  marks for  weeks  3, 4, 5 and 6 will be averaged to yield a mark out of 10 that will be included in the overall marks for the course.


    Model answers  and the marking guide for each week's questions will be posted to MyUni at the end of the week.

    Weekly Questions from Weeks 7, 8, 9 and 10: 10%
    From weeks  7 to 10, answers  to the Weekly Questions are to be submitted through the Quizzes function of MyUni by 9.00am on the following Monday*.  Answers to the questions for each week will be marked out of 10. The marks for weeks 7,8,9 and 10 will be averaged to yield a mark out of 10 that will be included in the overall marks for the course.

    Model answers and the marking guide for each week's questions will be posted to MyUni at the end of the week.

    * There is a Public Holiday on Monday, Week 9. For that week, the answers to the Weekly Questions will be due at 9.00am on Tuesday, Week 9.

    Assignment: 30%  The assignment comprises a 2,500 word essay. Due date is  Monday, Week 8 at 9.00am.  The topic is the impact of the fourth indsutrial revolution on auditing. The assignment requirements will be available in Week 1.

    Final Exam 50% 

    A 3-hour exam will be held during the semester 2 exam period. The exam is open book.

    To pass this course, students must achieve an overall grade of 50% and also achieve at least 50% in the final exam. Students who fail to meet both criteria will be awarded a mark of no more than 49.

    None of the assessment in this course is redeemable. Failure to complete any assessment item in accordance with the requirements will result in forfeiture of the marks allocated to that assessment item.

    Legible handwriting and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted for poor presentation of written, in–course assessable items.

    Extensions to the due date for assessable items will only be given in exceptional circumstances.

    Submission
    Answers to the Weekly Questions are to be submitted through the Quizzs function on  MyUni.

    The Assignment is to be submitted through turnitin in a word format (.doc or .docx). Students are required to place their name and  student number at the top of the first page.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through .

  • Student Feedback

    The 最新糖心Vlog places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the 最新糖心Vlog to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

The 最新糖心Vlog of Adelaide is committed to regular reviews of the courses and programs it offers to students. The 最新糖心Vlog of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.