PACC6002

Auditing and Assurance Services

10 Units

The course introduces students to the major conceptual and technical aspects of auditing. Emphasis is placed on financial statement audits conducted under the Corporations Law. The course also provides insight into other types of audit and assurance activities and emphasises the risk-based approach to auditing.

Faculty Faculty of Business and Law
School Newcastle Business School
Availability Semester 2 - 2015 (Sydney Bathurst Street)
Semester 1 - 2015 (Sydney Bathurst Street)
Learning Outcomes

On successful completion of this course, students will be able to:

  1. Comprehend the conceptual underlying theory of auditing;
  2. Interpret the legal, ethical and societal role and responsibilities of the auditor;
  3. Apply professional auditing techniques;
  4. Identify and assess contemporary auditing and assurance issues;
  5. Critically analyse financial information to facilitate the implementation of auditing techniques;
  6. Demonstrate written and oral communication skills in explaining auditing concepts;
  7. Work effectively as part of a team in exploring and resolving audit issues.
Content

The topics in this course include the following:

  1. The Professional and Regulatory Environment of Auditing; Legal, Ethical and Professional Responsibilities of Auditors;
  2. Audit Evidence;
  3. Materiality and Risk Assessment;
  4. Internal Control and Control Risk;
  5. Auditing for Fraud;
  6. Audit Planning;
  7. Audit of the Transaction Cycles – Tests of Controls and Substantive Procedures;
  8. Completing the Audit; and
  9. The Implications and Types of Audit Reports.
Requisites
Assumed Knowledge PACC6000 Financial Accounting 1
Assessment Items
  • Presentation: Group Assignment / Presentation
  • Written Assignment: weekly work submission and performance
  • Quiz: Mid-semester quiz
  • Formal Examination: Formal Exam
Contact Hours
  • Lecture: for 3 hour(s) per Week for Full Term
Timetable 2015 Course Timetables for PACC6002

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