| Semester 2, 2021 Online | |
| Short Description: | Auditing |
| Units : | 1 |
| Faculty or Section : | Faculty of Business, Education, Law and Arts |
| School or Department : | School of Business |
| Student contribution band : | Band 4 |
| ASCED code : | 080101 - Accounting |
| Grading basis : | Graded |
Staffing
Examiner:
Requisites
Pre-requisite: (ACC1102 or ACC2102) and ACC2115
Other Requisites
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at .
Rationale
This course builds on knowledge developed in the financial accounting courses of the accounting major. Auditing is an important component of the regulation and quality assurance processes associated with financial reporting. This course specifically focuses on how financial statement audits are conducted within the Australian professional, ethical and legal framework.
Synopsis
This course introduces the concepts and practices of company financial report audits within the assurance framework. It deals primarily with the process by which the external company auditor appraises and reports on the truth and fairness of the company's financial statements. The course is oriented towards the auditing profession and, in keeping with current practice, adopts a risk-based audit approach and follows the Australian Auditing Standards that are based on the International Standards on Auditing. The course explores how financial statement audits are conducted in computer-based and manual environments for selected systems. Limited practical exposure to auditing is provided through requiring students to complete a case study, using teamwork, as part of the assessment for the course.
Objectives
On completion of this course students will be able to:
- develop problem solving, critical thinking, teamwork and judgement skills in relation to the practice of auditing in contemporary business organisations;
- analyse and apply the regulatory framework that applies to auditing practice;
- consider and critically analyse the ethical issues relating to the practice of auditing;
- effectively communicate results from the application of the auditing process.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | The auditing and assurance environment | 25.00 |
| 2. | Audit decision and planning processes | 30.00 |
| 3. | Conducting and evaluating audit tests | 35.00 |
| 4. | Completing the audit | 10.00 |
Text and Materials
ALL textbooks and materials available to be purchased can be sourced from (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2021&sem=02&subject1=ACC3118)
Please for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)
Reference Materials
Student Workload Expectations
| Activity | Hours |
|---|---|
| Assessments | 20.00 |
| Directed Study | 36.00 |
| Private Study | 109.00 |
Assessment Details
| Description | Marks out of | Wtg (%) | Due Date | Notes |
|---|---|---|---|---|
| ONLINE QUIZ 1 | 30 | 15 | 17 Aug 2021 | |
| GROUP ASSIGNMENT | 100 | 35 | 04 Oct 2021 | |
| ONLINE EXAMINATION | 100 | 50 | End S2 | (see note 1) |
Notes
- This will be an online exam. Students will be provided further instruction regarding the exam by their course examiner via StudyDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.
Important assessment information
-
Attendance requirements:
There are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration. -
Requirements for students to complete each assessment item satisfactorily:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item. -
Penalties for late submission of required work:
Students should refer to the Assessment Procedure (point 4.2.4) -
Requirements for student to be awarded a passing grade in the course:
To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course. -
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course. -
Examination information:
An Online Examination is one in which candidates may have access to any printed or written material. -
Examination period when Deferred/Supplementary examinations will be held:
Deferred and Supplementary examinations will be held in accordance with the Assessment Procedure . -
University Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at .
Assessment Notes
-
Referencing in assignments:
Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at .