Auditing

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• explain the reasons why the function of auditing exists and critically evaluate how its role has changed through time;
• discuss the nature and extent of the auditors’ responsibilities to users of the financial statements and critically evaluate the arguments for and against limiting auditor liability.
• critically evaluate the strengths and weaknesses of different auditing processes and techniques;

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• fundamental principles and issues involved in certifying financial statements.
• the auditing concepts which underpin practice;
• the regulatory environment for auditing;
• key elements in the auditing process;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• communicate ideas and arguments fluently and effectively in a variety of written forms;
• work effectively in groups and recognise problems associated with team working.
• communicate ideas and arguments orally and through formal presentations;

Auditing concepts; auditors’ role in society; standards and responsibilities of auditors (including legal liability); regulation of auditing; audit evidence, Risk based approach; audit testing; completion of an audit; audit reports; current issues in auditing.

There will be two lectures and one class per week. The lectures will introduce you to material. Classes will provide a forum in which some of the key issues can be explored in depth and concepts applied to different situations. Group presentations will take place throughout the module to re-enforce the material that has been covered in the lecture periods.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

In-class activities

• Assessment Type: Formative
• Feedback: Answers and feedback will be supplied with the questions
• Final Assessment: No
• Group Work: No

Mock Examination

• Assessment Type: Formative
• Feedback: Discussion during seminars
• Final Assessment: No
• Group Work: No

Discussion board activity

• Assessment Type: Formative
• Feedback: Classes and office hours
• Final Assessment: No
• Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.