ACCTING 3502 - Auditing
North Terrace Campus - Semester 1 - 2019
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General Course Information
Course Details
Course Code ACCTING 3502 Course Auditing Coordinating Unit Adelaide Business School Term Semester 1 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Prerequisites ACCTING 2501 Assumed Knowledge 48 units of program attempted and passed Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture Course Staff
Course Coordinator: Dr Philip Saj
Course Timetable
The full timetable of all activities for this course can be accessed from .
Tutorials commence in the second week of lectures. -
Learning Outcomes
Course Learning Outcomes
On successful completion of this course, students will be able to:
1) Articulate knowledge of fundamental audit concepts.
2) Apply critical thinking skills and solve auditing problems through the use of case studies.
3) Demonstrate the use of the Auditing, Assurance and Ethics Handbook.
4) Explain the legal framework under which Australian company audits are conducted and apply the professions code of conduct.
5) Demonstrate the ability to undertake research on significant auditing issues and to keep up-to-date with developments in auditing theory and practice.
6) Outline the role of auditing in society.University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1,2,3,4,5,6 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
2,3,4,5,6 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
4 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
1,2,3,4,5,6 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
2,3,4 Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
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Learning Resources
Required Resources
There are two prescribed books for this subject:
Textbook
Title: Audit and Assurance (First Edition).
Authors: Leung, P, Coram, P, Cooper, B J, and Richardson, P.
Date of Publication: 2019
Publisher: Wiley
Handbook
Auditing, Assurance and Ethics Handbook 2019
Chartered Accountants Australia and New Zealand
Publisher: WileyRecommended Resources
Students may find the following sources helpful in attempting to master the course material. All books listed below can be borrowed from the library.
Books
Title: Auditing and Assurance Services (6th Edition Revised).
Authors:Gay, G and Simnett R
Date of Publication: 2017.
Publisher: McGraw Hill
Title: Auditing and Assurance Services A systematic Approach (4th Edition)
Authors: W F Messier Jr, S M Glover, and D F Prawitt 2006.
McGraw Hill Irwin
New York
Understanding the New Auditing Standards Related to Risk Assessment
American Institute of Certified Public Accountants 2006.
American Institute of Certified Public Accountants
New York
Other resources in the Barr Smith Library
Australian Financial Review
Business Review Weekly
Acuity (Journal of the Institute of Chartered Accountants in Australia and New Zealand)
In The Black (Journal of CPA Australia)
The business sections of daily newspapers
Web sites
( CPA Australia)
(Institute of Chartered Accountants in Australia and New Zealand)
( Auditing and Assurance Standards Board)
(Financial Reporting Council)
(Australian Securities and Investments Commission)
Online Learning
This course uses Canvas extensively. The following material will be posted prior to and during the semester:
茂聜搂 Echo 360 recordings of lectures
茂聜搂 Handouts of lecture slides
茂聜搂 Weekly lecture and tutorial outlines (which, include tutorial questions)
茂聜搂 Lecture exercises
茂聜搂 Additional guidance notes
茂聜搂 Newspaper articles
茂聜搂 Readings
茂聜搂 Assessment information
茂聜搂 links to useful websites
茂聜搂 Short films
茂聜搂 Model answers to weekly questions
茂聜搂 Announcements
茂聜搂 Marks for in-course assessments -
Learning & Teaching Activities
Learning & Teaching Modes
The prime delivery mode is through one lecture and one tutorial per week. Lectures are of two hours duration. Lectures are recorded with through Echo360. The recording of lectures is offered as a back-up only. Students are strongly advised to attend all lectures.
Tutorial classes of one hour commence in Week 2. Tutorials are an important component of this course. Students are strongly advised to attend all tutorials.
Students are required to complete the assigned tutorial questions each week and be prepared to discuss questions in the tutorials. Solutions to selected questions will be provided.Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students to devote a total of 48 hours per week to their studies. This means that for this course students are expected to commit approximately nine hours of private study, that is, study outside classes. Students in this course are expected to attend all lectures and tutorials through the term.Learning Activities Summary
Week 1: Introduction to auditing, and an overview of the auditing process. Understanding the role of management in the preparation of the financial report.
Week 2: Understanding the role of management in the preparation of financial reports. Fundamental auditconceptsWeek 3: Fundamental audit concepts
Week 4: Fundamental audit concepts.
Week 5: Client acceptance. Planning the audit: knowledge of the business and evaluating business risk.
Week 6: Planning the audit: Assessing specific business risks and materiality; and Understanding and assessing internal control
Week 7: Tests of controls, including the application ofsamplingin tests of control.
Week 8: Substantive tests of transactions and balances, including the application ofsampling;
Week 9: Completing the Audit. The Auditor's reporting obligations
Week 10: The Auditor's reporting obligations. The professional and regulatory environment: Ethics
Week11:The professional and regulatory environment: Legal issues affecting auditors.
Week 12:Other Assurance Services; and Contemporary Issues in Auditing
Revision Lecture -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Assessment in this course comprises the following:
In-class tests (30%)
Exam (70%)
Further information on assessment is provided under the tab titled, "Assessment Detail".Assessment Related Requirements
As well as obtaining an overall pass grade of 50%, you are required to achieve a mark of 50% or more on the final exam to pass the course.Assessment Detail
There are four assessable items in this course. They are:
Test 1: Friday Week 5 at 11.10 am in Kerr Grant Lecture Theatre. Duration of the test is 25 minutes. This test covers material
from weeks 1, 2 and 3. This item is worth 10% of the marks for this course.
Test 2: Friday Week 8 at 11.10 am in Kerr Grant Lecture Theatre. Duration of the test is 25 minutes. This test covers material
from weeks 4, 5 and 6. This item is worth 10% of the marks for this course.
Test 3: Friday Week 11 at 11.10 am in Kerr Grant Lecture Theatre. Duration of the test is 25 minutes. This test covers material
from weeks 7, 8 and 9. This item is worth 10% of the marks for this
course.
Exam: The exam will be held during the exam period. It is worth 70% of the marks for this course. The exam covers all topics introduced during the semester. Sample exam papers will be provided later in the semester.
Please Note: To pass this course, students must achieve a mark of 50% in the exam and 50% overall.
Submission
No information currently available.
Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through .
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Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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