|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 outcomesStudents who successfully complete this unit will be able to:
1. Explain central audit concepts and justify the reasons for an assurance service, such an audit of financial statements as a means for risk management;
2. Identify key relevant legal, ethical and professional aspects that affect the responsibilities of auditors;
3. Design audit plans and apply audit procedures in assessing business risks and collecting audit evidence through internal control and substantive tests;
4. Prepare and communicate audit opinions;
5. Discuss key developments in audit research and how these research developments have informed auditors and users of audit reports.
Graduate attributes1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
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 - adopt an informed and balanced approach across professional and international boundaries
PrerequisitesAccounting for Managers; Accounting Systems and Practices.
|Year||Location||Teaching period||Teaching start date||Delivery mode||Unit convener|
Moroney, Campbell & Hamilton (2017). Auditing: A Practical Approach (3rd ed.), John Willey and Sons, Australia, ISBN: 97811183779011
You may find it useful to consult some HK resources financial and business media, professional journals such as the Business section of the South China Morning Post https://www.scmp.com/business. Hong Kong Business https://hongkongbusiness.hk/. The Hong Kong section of the Financial Times https://www.ft.com/topics/places/Hong_Kong and the business section of Chanel NewsAsia https://www.channelnewsasia.com/news/business/.
The Hong Kong Institute of Certified Public Accountants http://www.hkicpa.org.hk/en/standards-and-regulations/standards/auditing-assurance/ provides relevant content, particularly the HKICPA Handbook Volume III (standards on auditing and related issues). http://app1.hkicpa.org.hk/ebook/HKSA_Members_Handbook_Master/volumeIII/contentpage.pdf.
And other resources are also useful, including http://www.iaasb.org/new-auditors-report
A range of excellent textbooks are available in this area including:
- 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., Abdul Manaf Rosli Bin & Bin 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., Loft, A. & Woods, M. (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. M. & 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 you must submit each assessment item, obtain at least 50 percent in the final exam and obtain a final cumulative mark of at least 50 percent. All assessments must be submitted by the due date unless an extension has been granted by the unit convenor.
Required IT skills
Work placement, internships or practicums
- HKBU Trimester 3, 2018, On-Campus, UCI - Hong Kong Baptist University, Hong Kong (191841)
- Semester 2, 2018, On-Campus, UC - Global Business College of Australia, Melbourne (179294)
- Semester 2, 2018, On-Campus, UC - TAFE Queensland, South Bank (179291)
- Semester 2, 2018, On-Campus, UC - Canberra, Bruce (179293)
- HKBU Trimester 1, 2018, On-Campus, UCI - Hong Kong Baptist University, Hong Kong (180806)
- Term 3, 2017, On-Campus, UCI - Hong Kong Baptist University, Hong Kong (173468)
- Semester 2, 2017, On-Campus, UC - TAFE Queensland, South Bank (174084)
- Semester 2, 2017, On-Campus, UC - Canberra, Bruce (167366)
- Term 4, 2016, On-Campus, UCI - Hong Kong Baptist University, Hong Kong (155307)
- Semester 2, 2016, On-Campus, UC - Canberra, Bruce (150993)
- Semester 2, 2016, On-Campus, UC Melbourne - Chadstone Campus (150982)
- Term 2, 2016, On-Campus, UCI - Hong Kong Baptist University, Hong Kong (155306)
- Semester 2, 2015, On-Campus, UC - Canberra, Bruce (139135)
- Term 3, 2015, On-Campus, UCI - Hong Kong Baptist University, Hong Kong (143609)