AFC3160 - Auditing and assurance
6 points, SCA Band 3, 0.125 EFTSL
Undergraduate Faculty of Business and Economics
Clayton Second semester 2009 (Day)
Topics include an overview of the audit function and assurance framework, and of different types of audit and assurance service; duties of the external auditor; the auditor's liability to third parties; detection and reporting of fraud; the audit process and techniques including planning, business risk assessment, tests of controls, substantive testing, reviewing internal control, gathering audit evidence, using analytical procedures, and audit sampling; the audit of computer information systems; audit reporting; internal auditing; performance auditing; and emerging issues.
The learning goals associated with this unit are to:
- explain the role, limitations and demand for audits in modern corporate society including the auditor's professional, ethical and legal obligations
- explain the auditor's role in corporate governance with particular emphasis on the detection and reporting of fraud and error
- describe the assurance framework, planning process and evidence gathering procedures used by auditors to form an audit opinion
- apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with auditing and assurance.
Within semester assessment: 40%
Examination (3 hours): 60%
3 hours per week