Credit Points 10

Legacy Code 200398

Coordinator Rina Datt Opens in new window

Description The aim of this subject is to introduce students to the practice of auditing and the underlying concepts, auditor's responsibilities and the audit environment. The focus of attention is on audits carried out under the provisions of corporations legislation and reference is also made to other forms of audit. The subject uses blended learning and case study approaches and students will learn to apply professional, ethical and legal requirements and responsibilities in completing and reporting on auditing and assurance tasks.

School Business

Discipline Accounting

Student Contribution Band HECS Band 4 10cp

Level Postgraduate Coursework Level 7 subject

Pre-requisite(s) ACCT 7010

Restrictions

Students must be enrolled in a postgraduate Business program. Students wishing to take this subject as an elective need approval from the program Advisor.

Assumed Knowledge

Knowledge of accounting systems and company accounting.

Learning Outcomes

On successful completion of this subject, students should be able to:

1. Evaluate the objectives and limitations of auditing;
2. Apply Australian auditing standards to case study situations;
3. Apply knowledge of the auditor�fs legal, professional and ethical responsibilities to clients to audit problems;
4. Make and defend audit judgements using audit procedures including probability assessment;
5. Conduct and evaluate statistical and non-statistical audit sampling;
6. Appraise the role of the various stakeholders in the audit process;
7. Evaluate the effectiveness of a sustainability audit.

Subject Content

The structure of the profession
Professional ethics and legal responsibilities
Audit objectives and evidence
Audit planning
Risk and materiality
Internal control
Audit sampling including probability distributions and hypothesis testing
The audit report
Post audit responsibilities
Contemporary Issues