|Available teaching periods||Delivery mode||Location|
|View teaching periods|
|0.125||3||Faculty Of Business, Government & Law|
|Discipline||Study level||HECS Bands|
|School Of Information Systems & Accounting||Level 3 - Undergraduate Advanced Unit|| Band 4 2021 (Commenced After 1 Jan 2021)
Band 4 2021 (Commenced After 1 Jan Social Work_Exclude 0905)
Band 5 2021 (Commenced Before 1 Jan 2021)
Learning outcomesAfter successful completion of this unit, students will be able to:
1. Evaluate the reasons for an assurance service, such an audit of financial statements as a means of risk management;
2. Identify key relevant legal, ethical and professional aspects that affect the responsibilities of auditors;
3. Design audit plans and apply appropriate audit procedures required in assessing business risks and collecting audit evidence through control tests and substantive tests;
4. Evaluate audit evidence as a basis to form an audit opinion;
5. Prepare and communicate audit opinions; and
6. Evaluate key developments in audit research and how these research developments have informed auditors and users of audit reports.
Graduate attributes1. UC graduates are professional - communicate effectively
1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - take pride in their professional and personal integrity
2. UC graduates are global citizens - think globally about issues in their profession
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
Prerequisites11216 Accounting and Decision Support Systems.
- 6223 Auditing PG.
Equivalent units6398 Auditing.
Assumed knowledgeStudents enrolled in this unit should have a basic understanding and practical knowledge of accounting. They should be able to prepare financial statements.
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4a List of Required Texts/Readings:
Moroney, Campbell & Hamilton (2017). Auditing: A Practical Approach (3rd ed.), John Willey and Sons, Australia, ISBN: 9780 7303 26496 (print and ebook)
You may find it useful to consult Australian financial and business media, professional journals such as the Australian Financial Review, Business Review Weekly, National Accountant, CA Magazine, Auditing and Standards Board of Australia. A range of excellent textbooks available in this area which include:
- Australian Auditing and Assurance Standards Board (2016), Auditing and Assurance Standards (AUS), available at: http://www.auasb.gov.au/Pronouncements/Auditing-and-Assurance-Standards.aspx
- Chartered Accountants of Australia and New Zealand (2016), Auditing, Assurance and Ethics Handbook 2017.
- Alvin, A. A. (2013). Auditing and Assurance Services in Australia, 9th edition, Prentice Hall: Sydney.
- Jubb, C., Rittenberg, L.E., Johnstone, K.M. & Gamling, A (2012). Auditing: a business risk approach, Thomson/South-Western, Mason, Ohio. USA.
- Soltani, B. (2007). Auditing: an international approach, Financial Times Prentice Hall, Harlow, England; New York.
- Louwers, T., Ramsay, R., Sinason, D. & Strawser, J. (2005). Auditing and Assurance Services, 1st Ed.; McGraw-Hill Irwin, Boston.
- Power, M. (1999). The Audit Society: Rituals of Verification, Oxford University Press, Oxford, UK.
The following journal articles are also recommended:
- A. Amran, A Manaf Rosli Bin, B Che Haat & Mohd Hassan (2009) Risk reporting: An exploratory study on risk management disclosure in Malaysian annual reports, Managerial Auditing Journal, Volume 24 (1): 39-57.
- Arnold, B. & Paul de Lange (2004), Enron: an examination of agency problems, Critical Perspectives on Accounting, Volume 15, (6–7), August–October: 751-765.
- Carey, P., W. Robert Knechel & George Tanewski (2013), Costs and Benefits of Mandatory Auditing of For-profit Private and Not-for-profit Companies in Australia, Australian Accounting Review, Volume 23, (1): 43–53.
- Chabrak, C., & Nabyla Daidj (2007), Enron: Widespread myopia, Critical Perspectives on Accounting, Volume 18, (5): 539-557.
- Christopher, J., Gerrit Sarens & Philomena Leung (2009), A critical analysis of the independence of the internal audit function: evidence from Australia, Accounting, Auditing & Accountability Journal, Volume 22 (2); 200 – 220.
- Cooper, David J., Tina Dacin & Donald Palmer (2003), Fraud in accounting, organizations, and society: Extending the boundaries of research, Accounting, Organizations and Society, Volume 38 (6–7): 440-457.
- Deegan, C. & Michaela Rankin (1997), The materiality of environmental information to users of annual reports, Accounting, Auditing & Accountability Journal, Volume (10): 562 – 583.
- El-Mary, E. & Kathryn A. Hansen (2008), Factors affecting auditors' utilization of evidential cues: Taxonomy and future research directions, Managerial Auditing Journal, Volume 23 (1): 26-50.
- Ettredge, M., Elizabeth Emeigh Fuerherm and Chan Li (2014), Fee pressure and audit quality, Accounting, Organizations and Society, Volume 39 (4): 247-263.
- Guénin-Paracini, H., Bertrand Malsch, Anne & Marché Paillé (2014), Fear and risk in the audit process, Accounting, Organizations and Society, Volume 39 (4): 264-288.
- Guiral, A; Ruiz, W. & , Choi, H.J., (2014), Audit report information content and the provision of non-audit services: Evidence from Spanish lending decisions, Journal of International Accounting, Auditing and Taxation, Volume 23 (1): 44-57.
- Humphrey, C., Anne Loft & Margaret Woods (2009), The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis, Accounting, Organizations and Society, Volume 34 (6-7): 810-825.
- Fischer, M. J. (1996), Realizing the benefits of new technologies as a source of audit evidence: An interpretive field study, Accounting, Organizations and Society, Volume 21 (1-2): 219-242.
- Jamal, J. & Shyam Sunder (2011), Is mandated independence necessary for audit quality?, Accounting, Organizations and Society, Volume 36 (4-5): 284-292.
- Knechel, W.R. (2007), The business risk audit: Origins, obstacles and opportunities, Accounting, Organizations and Society Volume 32 (4): 383-408.
- Koh, H.C. & E-Sah Woo, (1999), The expectation gap in auditing, Managerial Auditing Journal, Volume 13 (3):147–154.
- McLeod, R. & Harun Harun (2014), Public Sector Accounting Reform at Local Government Level in Indonesia. Financial Accountability & Management, 30 (2): 238–258.
- Unerman, J. & Brendan O'Dwyer (2004), Enron, WorldCom, Andersen et al.: a challenge to modernity, Critical Perspectives on Accounting, Volume 15 (6-7): 971-993.
Submission of assessment items
Special assessment requirements
To pass this unit students must (1) submit each assessment item, (2) obtain at least 50% marks of the final exam and (3) obtain a final cumulative mark of at least 50% from all assessments.
Students have a responsibility to uphold University standards on ethical scholarship. Good scholarship involves building on the work of others and use of others' work must be acknowledged with proper attribution made. Cheating, plagiarism, and falsification of data are dishonest practices that contravene academic values. Refer to the University's Student Charter for more information.
To enhance understanding of academic integrity, all students are expected to complete the Academic Integrity Module (AIM) at least once during their course of study. You can access this module within UCLearn (Canvas) through the 'Academic Integrity and Avoiding Plagiarism' link in the Study Help site.
Use of Text-Matching Software
The University of Canberra uses text-matching software to help students and staff reduce plagiarism and improve understanding of academic integrity. The software matches submitted text in student assignments against material from various sources: the internet, published books and journals, and previously submitted student texts.
Inclusion and engagement
Th unit follows the university rules
Required IT skills
Work placement, internships or practicums