Auditing PG (6223.5)
|Available teaching periods||Delivery mode||Location|
|View teaching periods|| Flexible
| UC - Canberra, Bruce
UC - Global Business College of Australia, Melbourne
|0.125||3||Faculty Of Business, Government & Law|
|Discipline||Study level||HECS Bands|
|Canberra Business School||Post Graduate Level|| Band 3 2013-2020 (Expires 31 Dec 2020)
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 outcomesStudents who successfully complete this unit will be able to: 1. Discuss and evaluate the theoretical basis of assurance services and auditing, its role as a risk management function and legal, professional and social environment related to assurance services and auditing;
2. Apply professional judgments required in assessing business risks and in the preparation of audit plans and audit procedures;
3. Use appropriate audit procedures to collect audit evidence through an analysis of business risks, internal control and substantive tests;
4. strengthen key management competencies in decision-making, oral and written communication, report writing, critical thinking, problem-solving, planning and teamwork.
5. Evaluate and critique key research developments in auditing such as expectation gaps, auditor independence, accounting materiality, going concern and other relevant issues.
Graduate attributes1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
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
As a postgraduate unit, this unit also expects students to enhance their ability and skills in relation to research analysis, problem solving and critical thinking both practice and research of assurance service and auditing profession.
Prerequisites6222 Accounting Systems and Practices G.
|Year||Location||Teaching period||Teaching start date||Delivery mode||Unit convener|
|2021||UC - Canberra, Bruce||Semester 2||02 August 2021||Flexible||Dr David Carter|
|2021||UC - Global Business College of Australia, Melbourne||Semester 2||02 August 2021||On-Campus||Dr David Carter|
|2022||UC - Global Business College of Australia, Melbourne||Semester 2||01 August 2022||On-Campus||Prof Raechel Johns|
|2022||UC - Canberra, Bruce||Semester 2||01 August 2022||Flexible||Dr David Carter|
Moroney, Campbell & Hamilton (2017). Auditing: A Practical Approach (3rd ed.), John Willey and Sons, Australia, ISBN: 9780730326496 (print and ebook)
Details on how to acquire the text are included under resources for students on Canvas.
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 (AUSs), 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:
- 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.
Refer to the Assessment Policy and Procedures.
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.
To enhance understanding of academic integrity, it is expected that all students will complete the LearnOnline Academic Integrity Module (AIM) at least once during their course of study. You can access this module with the UCLearn (canvas( through the "Avoiding Plagiarism' link in the Study Help site.
Use of Text-Matching Software
The University of Canberra has available, through LearnOnline (Moodle), text-matching software that helps 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. Click here for more information.
The amount of time you will need to spend on study in this unit will depend on a number of factors including your prior knowledge, learning skill level and learning style. Nevertheless, in planning your time commitments you should note that for a 3cp unit the total notional workload over the semester or term is assumed to be 150 hours. These hours include time spent in classes. The total workload for units of different credit point value should vary proportionally. For example, for a 6cp unit the total notional workload over a semester or term is assumed to be 300 hours.
Required IT skills
Work placement, internships or practicums
- 11218 Auditing
- 6398 Auditing.