CO5118 - Auditing and Assurance Services

Course or course code of students permitted to enrol: Students enrolled in any postgraduate certificates, diplomas or degrees offered by the University are permitted to enrol in this subject. Course or course code of students not permitted to enrol: Students enrolled in any undergraduate qualifications offered by the University are not permitted to enrol in this subject.

This subject examines the practice of auditing and the relevant underlying concepts. Although the emphasis is on the statutory audit, other topics include: risk analysis; analytical review; statistical sampling techniques; auditing in a computer information systems environment and audit reporting.

Learning Outcomes

• collaborate effectively with team members, to assume leadership and to manage differences and conflicts;
• describe the assurance functions processes and practices and critically appraise the importance of assurance reports;
• explain and apply the professional, legal, ethical, commercial and regulatory framework within which financial audits and other audit related and assurance engagements are carried out;
• evaluate the levels of risks inherent in financial accounting reports, the persuasiveness of forms of evidence available to the auditor and plan appropriate evidence gathering tasks to minimise overall assurance risk;
• distinguish between the types of audit reports and choose an appropriate opinion;
• effectively communicate orally and in writing the findings of an audit investigation.

Subject Assessment

• Written > Examination (centrally administered) - (50%) - Individual
• Written > Examination - In class - (20%) - Individual
• Written > Case study analysis - (30%) - Individual.

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.