units

AFW3041

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
OfferedBerwick Second semester 2011 (Day)
Gippsland Second semester 2011 (Day)
Sunway Second semester 2011 (Day)
Peninsula Second semester 2011 (Day)

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 and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFW3041.

Assessment

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

Chief examiner(s)

Grant Gay

Contact hours

3 hours per week

Prerequisites

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

Prohibitions

AFC3160, AFF3631, AFG3041