Availabilities:

2021 unit offering information will be available in September 2020

Unit description

Covering of ethical and quality control issues, the assurance framework encompasses auditing, review and agreed-upon procedures, with different levels of assurance provided for each to meet the requirements of users/clients. The main focus will be on the audit - an independent examination of the financial information prepared by the management of an entity. The impact of materiality and risk on evidence gathering and documentation requirements which support the opinion are introduced.

Unit content

This unit comprises four modules. The list below shows in brackets, the recommended number of weeks for the Introduction and each module as well as content for each module: 

Module 1: Overview, client acceptance and evidence (3 weeks):

• Introduction and perception with Overview

• Ethics, legal liability & client acceptance 

Module 2: Planning and sampling (3 weeks):

• Understanding the client (what to look out for)

• Assessing audit risk & materiality (using what you find)

• Evidence & workpapers (Types of procedures & sampling)

Module 3: Execution, controls and substantive strategy (4 weeks):

• Understanding (the design of) internal controls

• Testing internal controls operate effectively

• Significance of substantive procedures

• Testing transactions & balances

Module 4: Concluding and reporting (1 week):

• Completing the audit, documentation & reporting the audit opinion

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
On completion of this unit, students should be able to:GA1GA2GA3GA4GA5GA6GA7
1understand the meaning and nature of auditing and assurance servicesIntellectual rigourEthical practiceLifelong learning
2identify and apply key auditing standards, ethical and quality control requirements for audit and assurance engagementsIntellectual rigourEthical practiceLifelong learning
3discuss the importance of internal controls and IT (Information Technology) to the audit processIntellectual rigourEthical practiceLifelong learning
4identify and apply various audit evidence gathering techniquesIntellectual rigourEthical practiceLifelong learning
5evaluate and apply the significance of materiality and risk to the steps in the audit process for gathering evidenceIntellectual rigourEthical practiceLifelong learning
6evaluate and apply the use of different types of audit opinions on financial reports.Intellectual rigourEthical practiceLifelong learning

On completion of this unit, students should be able to:

  1. understand the meaning and nature of auditing and assurance services
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA5: Lifelong learning
  2. identify and apply key auditing standards, ethical and quality control requirements for audit and assurance engagements
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA5: Lifelong learning
  3. discuss the importance of internal controls and IT (Information Technology) to the audit process
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA5: Lifelong learning
  4. identify and apply various audit evidence gathering techniques
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA5: Lifelong learning
  5. evaluate and apply the significance of materiality and risk to the steps in the audit process for gathering evidence
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA5: Lifelong learning
  6. evaluate and apply the use of different types of audit opinions on financial reports.
    • GA1: Intellectual rigour
    • GA3: Ethical practice
    • GA5: Lifelong learning

Teaching and assessment

Notice

Intensive offerings may or may not be scheduled in every session. Please refer to the timetable for further details.

Southern Cross University employs different teaching methods within units to provide students with the flexibility to choose the mode of learning that best suits them. SCU academics strive to use the latest approaches and, as a result, the learning modes and materials may change. The most current information regarding a unit will be provided to enrolled students at the beginning of the study session.

Fee information

Domestic

Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.
Commencing 2021 Commonwealth Supported only. Student contribution band: 3

Fee paying courses
For POSTGRADUATE or UNDERGRADUATE full fee paying courses please check Domestic Postgraduate Fees OR Domestic Undergraduate Fees

International

Please check the international course and fee list to determine the relevant fees.

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