Students studying this module will develop an understanding of the operational, practical and theoretical issues in auditing. Students will develop an awareness of the audit process, its limitations and the influence of regulation on audits. In order to balance theory with practice, the module will cover relevant international standards on auditing and relevant statutes such as the Companies Acts, Fraud Act, Money Laundering Act and Bribery Act. Case law, in so far as it affects auditing practices, will also be discussed. Ethics, corporate governance, environmental and social issues, fair values and information technology will also form part of the course curriculum.
On successful completion of the module, students will be able to:
This module is delivered in a single teaching block through seven hours of weekly class contact. These class sessions are normally used to deliver and demonstrate topic material and for students to discuss the topics and present their learning. Students will be directed to research papers and current articles reported in the business press and professional journals and will be expected to analyse these articles and contribute to class discussion. These discussions will provide an opportunity for students to appreciate the link between theory and practice. Students will learn to develop commercial awareness through reading the business press and will be encouraged to discuss topics and their work in groups, enabling peer learning. Students will also be expected to make short topic presentations to encourage skills in public speaking as well as to provide opportunities for formative feedback on understanding of topics.
Due to the experiential nature of the learning on this degree, and the importance of professional development enabling students to develop practical skills, learn from and interact with others, attendance is compulsory. Any students not attending a minimum of 80% of their timetabled sessions will be at risk of academic failure or termination from the course.
Definitive UNISTATS Category | Indicative Description | Hours |
---|---|---|
Scheduled learning and teaching | There will normally be seven hours of class contact per teaching week incorporating lecture delivery and student discussion and activities | 63 |
Guided independent study | Guided independent study will include the pre-lecture reading, reading journal and research articles, seminar preparation and practical exercises | 237 |
Total (number of credits x 10) | 300 |
Summative assessment will take the form of coursework and an end-of-module exam.
The coursework will comprise four equally weighted individual pieces of work. Each piece of coursework will be limited to a maximum of 800 words and will require students to comment on a particular audit issue, a current newspaper topic or research article. These will aid students' analytical and communication skills and help prepare students for the exam.
The exam will be three hours in duration and will use essay-based questions to assess both understanding and evaluation of theory and practice, and short-case scenario questions to assess interpretation and application of appropriate audit standards or statute.
Learning Outcome | Assessment Strategy |
---|---|
1) Explain the validity and significance of key theories underpinning audit | Summative: exam and coursework |
2) Evaluate the audit process and the various techniques that are applied | Summative: exam and coursework |
3) Appraise the efficiency and effectiveness of audit regulation | Summative: exam and coursework |
4) Analyse the drivers for and practice of corporate governance | Summative: exam and coursework |
5) Evaluate internal controls, techniques and internal audit tests, including the use of ICT | Summative: exam and coursework |
Description of Assessment | Definitive UNISTATS Categories | Percentage |
---|---|---|
Four individual pieces of coursework | Coursework | 30% |
Three-hour exam | Written exam | 70% |
Total (to equal 100%) | 100% |
It IS NOT a requirement that any major assessment category is passed separately in order to achieve an overall pass for the module.
Gray, I., Manson, S. and Crawford, L., 2015. The Audit Process. 6th ed. Cengage Learning.
Institute of Chartered Accountants in England and Wales. Audit & Assurance Advanced Stage Technical Integration. ICAEW Study Manual.
Cosserat, G. and Rodda, N. Modern Auditing. Chichester: John Wiley & Sons.
Millichamp, A. and Taylor, J. Auditing. Cengage Learning.
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