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ACC00130 - Auditing (2018)

2014 | 2015 | 2016 | 2017 | 2018

Availabilities:

LocationDomesticInternational
Melbourne N/A Session 1
Online Session 1, 3 Session 1
Papua New Guinea - IBS Enga N/A Session 1, 3
Papua New Guinea - IBS Port Moresby N/A Session 1, 3
Sydney N/A Session 1

Unit aim

Introduces students to the concepts and practice of auditing, the way the profession has developed and the way the profession is meeting current business and social needs. In addition, the use of statistical techniques and EDP systems in auditing will be reviewed.

Unit content

This unit comprises an introduction and four modules, and is based on a 120-hour workload for the student. The list below shows in brackets, the recommended number of weeks for the Introduction and each module as well as content for each module:

Introduction and perception (1 week).

Module 1: Overview, client acceptance and evidence (3 weeks):

  • Overview
  • Ethics, legal liability & client acceptance
  • Evidence & workpapers

Module 2: Planning and sampling (3 weeks):

  • Understanding the client (what to look out for)
  • Assessing audit risk & materiality (using what you find)
  • Types of procedures & sampling

Module 3: Execution, controls and substantive strategy (4 weeks):

  • Understanding (the design of) internal controls
  • Testing internal controls operate effectively
  • Significance of substantive procedures
  • Testing transactions & balances

Module 4: Concluding and reporting (1 week):

  • Completing the audit, documentation & reporting the audit opinion

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

Learning outcomes and graduate attributes

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 discuss the meaning and nature of auditing and assurance services
2 identify and apply key auditing standards, ethical and quality control requirements for audit and assurance engagements
3 analyse and evaluate the significance of materiality and risk to the steps in the audit process for gathering evidence
4 discuss the importance of internal controls and computers to the audit process
5 identify and apply various audit sampling methods
6 apply and evaluate the use of different types of audit opinions on financial reports.

On completion of this unit, students should be able to:

  1. discuss the meaning and nature of auditing and assurance services
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
    • GA6: Communication and social skills
  2. identify and apply key auditing standards, ethical and quality control requirements for audit and assurance engagements
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
  3. analyse and evaluate the significance of materiality and risk to the steps in the audit process for gathering evidence
    • GA1: Intellectual rigour
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
    • GA6: Communication and social skills
  4. discuss the importance of internal controls and computers to the audit process
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
  5. identify and apply various audit sampling methods
    • GA4: Knowledge of a discipline
    • GA5: Lifelong learning
  6. apply and evaluate the use of different types of audit opinions on financial reports.
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA6: Communication and social skills

Prescribed texts

Session 1

  • Prescribed text information is not currently available.

Session 3

  • Prescribed text information is not currently available.

Prescribed texts may change in future study periods.

Teaching and assessment

Melbourne

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 3 hours (12 weeks)
Assessment
Discussion board 5%
Discussion board/wiki 25%
Discussion board/wiki 20%
Exam: closed book 50%

Online

Teaching method
Lecture online 1 hour (12 weeks)
Assessment
Discussion board 5%
Discussion board/wiki 25%
Discussion board/wiki 20%
Exam: closed book 50%

Papua New Guinea - IBS Enga

Teaching method
Structured online learning
Assessment
Discussion board 5%
Discussion board/wiki 25%
Discussion board/wiki 20%
Exam: closed book 50%

Papua New Guinea - IBS Port Moresby

Teaching method
Structured online learning
Assessment
Discussion board 5%
Discussion board/wiki 25%
Discussion board/wiki 20%
Exam: closed book 50%

Sydney

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 3 hours (12 weeks)
Assessment
Discussion board 5%
Discussion board/wiki 25%
Discussion board/wiki 20%
Exam: closed book 50%

Intensive offerings may or may not be scheduled in every session. Please refer to the timetable for further details.

Southern Cross University employs different teaching methods within units to provide students with the flexibility to choose the mode of learning that best suits them. SCU academics strive to use the latest approaches and, as a result, the learning modes and materials may change. The most current information regarding a unit will be provided to enrolled students at the beginning of the study session.

From the 1st of June, 2017, the term 'Distance Education' has been replaced with 'Online'

Fee information

Domestic

Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.
Commencing 2018 Commonwealth Supported only. Student contribution band: 3

Fee paying courses
For POSTGRADUATE or UNDERGRADUATE full fee paying courses please check Domestic Postgraduate Fees OR Domestic Undergraduate Fees

International

Please check the international course and fee list to determine the relevant fees.