units

ACF5957

Faculty of Business and Economics

Postgraduate - Unit

This unit entry is for students who completed this unit in 2014 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

print version

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, or view unit timetables.

LevelPostgraduate
FacultyFaculty of Business and Economics
Organisational UnitDepartment of Accounting
OfferedCaulfield First semester 2014 (Day)
Caulfield First semester 2014 (Evening)
Caulfield Second semester 2014 (Day)

Synopsis

Topics include nature and objectives of auditing; auditing standards; audit reporting; audit expectation gap and legal liability; professional ethics and quality control; audit evidence; audit planning, strategic business risk analysis, materiality, analytical review procedures and audit risk model; study and evaluation of internal control and model; assessing control risk CIS audit techniques, test of transactions and tests of balances, completing the audit and post audit responsibilities; internal auditing and performance auditing, other assurance services and current issues in auditing.

Outcomes

The learning goals associated with this unit are to:

  1. explain and debate the role, limitations and demand for audits in modern corporate society, and give examples of the professional, ethical and legal obligations, and the standards and principles applicable to the audit profession
  2. distinguish between the different types and levels of assurance services provided by professional practitioners, including auditors, and describe the assurance framework
  3. examine the auditor's role in corporate governance with particular emphasis on assessment of internal controls and the detection and reporting of fraud and error
  4. identify, distinguish between and apply the key evidence gathering procedures used by auditors when planning, testing, completing the audit and forming an audit opinion
  5. demonstrate an ability to work independently and to lead and participate in teams from diverse cultural and social backgrounds in independent and group assessable tasks
  6. 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 ACF5957.

Assessment

Within semester assessment: 35%
Examination: 65%

Chief examiner(s)

Workload requirements

Minimum total expected workload equals 144 hours per semester.

Co-requisites

Prohibitions

AFG9041, ACG5941, AFF9621, AFX5621, AFX9570