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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
Objectives

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;
  2. Legal Ethical and Professional Responsibilities of Auditors;
  3. Audit Evidence, Materiality and Risk,
  4. Internal Control and Control Risk;
  5. Auditing for Fraud;
  6. Audit Planning;
  7. Audit of the Sales and Collection Cycles - tests of controls;
  8. Audit of the Sales and Collection Cycles - Accounts receivable;
  9. Completing the Audit;
  10. The Implications and Types of Audit Reports.
Replacing Course(s) Nil
Transition Nil
Industrial Experience 0
Assumed Knowledge PACC6000 Financial Accounting 1
Modes of Delivery Internal Mode
Teaching Methods Lecture
Assessment Items
  • Examination: Class - Mid Semester
  • Essays / Written Assignments -
  • Examination: Formal -
Contact Hours
  • Lecture: for 3 hour(s) per Week for Full Term
Compulsory Components
  • Requisite by Enrolment: This course is only available to students enrolled in the Master of Professional Accounting, Master of Professional Accounting (Advanced) and Master of Professional Accounting/Master of Business.
Course Materials None listed
Timetable 2014 Course Timetables for PACC6002

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