Audit and Assurance
Queensland University of Technology
Area of Study
Taught In English
Prerequisites(AYB221 or INB120) and (AYB340 or AYB220)
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewSynopsis:This unit enables students to comprehend the key concepts of auditing as a discipline, to demonstrate the relationship between auditing and the systems of accountability and to demonstrate the differences between manual and EDP audit processes. The unit builds on the knowledge of accounting and accounting standards acquired in prior units by enabling students to understand in detail the audit process (including professional auditing standards and techniques) which leads to the auditor providing an opinion on the financial reports of various types of entities. Ethics and auditor's liability are also covered.Learning OutcomesOn completion of this unit, you should be able to:
ContentThis unit covers the regulatory and ethical frameworks within which assurance services are provided, the processes and techniques utilised by assurance service providers and other related audit and assurance issues. Students should acquire knowledge of auditing and its procedures, auditing standards and other professional pronouncements. Generic capabilities being developed include discipline knowledge, ethical and global perspectives, written communication skills and risk management processes as they relate to auditing. The issues covered in auditing are techniques practiced both in Australia and overseas.The generic capabilities this unit develops are discipline knowledge, critical thinking and judgement, teamwork skills, written communication and ethics.Approaches to Teaching and LearningAttendance at ALL classes is strongly encouraged as additional information such as emphasis and explanations will inevitably be given there.Each lecture consists of two components- theoretical coverage of audit issues, standards and auditing concepts and the application of these techniques and issues to practical auditing examples. This strategy exposes students to all aspects of the conduct of an audit and associated auditing issues.Tutorials which lag behind lectures by one week further develop students understanding and comprehension of the theoretical and practical aspects of auditing. The tutorial questions aim to consolidate students' understanding of the basic auditing concepts and to develop a more in-depth knowledge and critical thinking about the issues covered in lectures and in the text.The group assignment aims to further develop student's knowledge of key concepts of ethics, within the professional environment and apply these to a practical case study. The assignment also aims to further develop students writing and reporting skills.AssessmentAssessment name: Online QuizzesDescription: The two online quizzes will test student's knowledge on audit & assurance topics. The quizzes will incorporate multi-choice answer components. Each quiz will be worth 10%, giving (2 x 10% = 20%) of the assessment for the semester.Length: 25 mins working time per quizFormative or Summative: BothRelates to objectives: 1 & 2Weight: 20Internal or external: InternalGroup or individual: IndividualDue date: Weeks 5 & 9Assessment name: Group ProjectDescription: This is a written response required to an ethical dilemma. Groups of 3 students within tutorial groups will be formed. Separate details will be provided on the Blackboard site.Length: Approximately 4 pages (1250 words maximum), typed and formatted.Formative or Summative: BothRelates to objectives: 4Weight: 25Internal or external: InternalGroup or individual: GroupDue date: Week 7Assessment name: End of Semester ExaminationDescription: Written questions covering both practical and theoretical auditing issues. This assessment aims to classify student performance and to assess their knowledge in relation to all the learning outcomes of the unit. The exam will cover weeks 3-13 (inclusive) and is closed book.Length: 2 hours working plus 10 minutes perusalFormative or Summative: SummativeRelates to objectives: 1, 2, & 3Weight: 55Internal or external: InternalGroup or individual: IndividualDue date: Central Exam Period
- Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation.
- Identify and discuss all phases of the auditing process including audit planning, risk assessment, testing and sampling, and audit completion.
- Apply auditing concepts, standards, techniques and theory to critically analyse and make judgements on practical issues and situations within the auditing process.
- Use teamwork knowledge and skills to identify ethical issues arising in a professional environment and justify written decisions within the relevant ethical code and framework
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Some courses may require additional fees.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.