units

AFG3041

Faculty of Business and Economics

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Monash University Handbook 2011 Undergraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

LevelUndergraduate
FacultyFaculty of Business and Economics
OfferedGippsland Second semester 2011 (Off-campus)
Coordinator(s)Janet Jackson

Synopsis

Overview of auditing, the auditor's legal liabilities, audit process and evidence, the concepts of materiality and risks, study and evaluation of internal control, EDP auditing, audit sampling techniques, the test of transactions cycles and the verification of account balances, auditors reports, and internal and operational auditing.

Objectives

The learning goals associated with this unit are to:

  1. explain the role, limitations and demand for audits in modern corporate society including the auditor's professional, ethical and legal obligations
  2. explain the auditor's role in corporate governance with particular emphasis on the detection and reporting of fraud and error
  3. describe the assurance framework, planning process and evidence gathering procedures used by auditors to form an audit opinion
  4. apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with auditing and assurance matters and demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in AFG3041.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prerequisites

Students must have passed AFW2491 or AFG2491 before undertaking this unit.

Prohibitions

AFC3160, AFF3631, AFW3041