Audit and Assurance

Queensland University of Technology

Course Description

  • Course Name

    Audit and Assurance

  • Host University

    Queensland University of Technology

  • Location

    Brisbane, Australia

  • Area of Study


  • Language Level

    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.

    Hours & Credits

  • Credit Points

  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    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 Outcomes
    On completion of this unit, you should be able to:
    1. Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation.
    2. Identify and discuss all phases of the auditing process including audit planning, risk assessment, testing and sampling, and audit completion.
    3. Apply auditing concepts, standards, techniques and theory to critically analyse and make judgements on practical issues and situations within the auditing process.
    4. 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
    This 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 Learning
    Attendance 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.
    Assessment name: Online Quizzes
    Description: 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 quiz
    Formative or Summative: Both
    Relates to objectives: 1 & 2
    Weight: 20
    Internal or external: Internal
    Group or individual: Individual
    Due date: Weeks 5 & 9
    Assessment name: Group Project
    Description: 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: Both
    Relates to objectives: 4
    Weight: 25
    Internal or external: Internal
    Group or individual: Group
    Due date: Week 7
    Assessment name: End of Semester Examination
    Description: 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 perusal
    Formative or Summative: Summative
    Relates to objectives: 1, 2, & 3
    Weight: 55
    Internal or external: Internal
    Group or individual: Individual
    Due date: Central Exam Period

Course Disclaimer

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.