Auditing
Duration
- One Semester or equivalent
Contact hours
- 36
2021 teaching periods
Hawthorn
| Higher Ed. Semester 1 | Higher Ed. Semester 2 | |
|---|---|---|
Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Swinburne Online
| Teaching Period 1 | ||
|---|---|---|
Dates: Last self enrolment: Census: Last withdraw without fail: |
Hawthorn
| Summer | ||
|---|---|---|
Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Prerequisites
ACC20013 Company AccountingAims and objectives
The broad aim of this unit is to familiarise students with the underlying concepts and objectives of auditing and the subsequent reporting function of the auditor. The unit covers both theoretical and practical aspects of auditing and in particular aims to integrate the concepts of auditing with practical approaches taken by the auditor to ensure students gain a complete picture of the audit process.
Students who successfully complete this unit will be able to:
1. Examine the nature and purpose of auditing within the regulatory auditing environment
2. Research, compose and report on critical and current topics in auditing
3. Work collaboratively in a team environment, to achieve set goals and illustrate knowledge of auditing
4. Explain the audit process and the need for financial report audits
Courses with unit
This is a unit of study in the Bachelor of Business suite of courses.
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Face to Face Mode:
Online Mode: SOL
Kaplan:
Scheduled hours: Lectures (4 x 4 hours)
Student workload:
For all teaching and learning structures (both face to face and online), students are expected to spend an average of 150 hours per unit in total over the duration of the study period
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
To be successful, students should:
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Scheduled hours: Lectures (12 x 3 hours)
Engaging with online content and discussions
Scheduled hours: Lectures (4 x 4 hours)
Students are expected to spend 2 hrs per week in engagement online with learning activities and discussion boards
For all teaching and learning structures (both face to face and online), students are expected to spend an average of 150 hours per unit in total over the duration of the study period
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
• Non-scheduled learning events and activities (including directed online learning activities, assessments, independent study, student group meetings, and research)
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Assessment
1. Presentation (Group) 10 - 20%
2. Assignment (Group) 10 - 20%
3. Mid-Semester Test (Individual) 20 - 30%
4. Final Examination (Individual) 40 - 60%
2. Assignment (Group) 10 - 20%
3. Mid-Semester Test (Individual) 20 - 30%
4. Final Examination (Individual) 40 - 60%
General skills outcomes
During this unit students will receive feedback on the following key generic skills:
- Teamwork skills
- problem solving skills
- analysis skills
- communication skills; and
- ability to work independently
Content
- Nature and objectives of an audit
- The financial report audit process
- Audit planning
- Specific business risks and materiality
- Testing controls
- Substantive testing
- Sampling
- Completing the audit
- The audit report
- Ethics independence and corporate governance
- Legal liability
Study resources
- Reading materials.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.