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Undergraduate - UnitAFF3631 - Auditing and assurance

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.

Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Accounting and Finance
Offered	Caulfield First semester 2013 (Day) Caulfield Second semester 2013 (Day)

Synopsis

Nature and objectives of auditing, auditing standards, auditors' responsibilities, professional ethics and auditor independence, audit objectives, planning the audit, analytical review procedures, understanding the internal control structure and assessing control risk and detection risk, preliminary audit strategies and design of substantive tests, auditing in a CIS environment, auditing the transaction cycles and performing substantive procedures, completing the audit and post audit responsibilities, audit reporting, other reports and services.

Outcomes

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 and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFF3631.