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Unit of study_
ACCT6007: Contemporary Issues in Auditing
2024 unit information
The focus of this unit is the development of knowledge and understanding of the key elements of the 'corporate financial report' audit process with particular reference to Australian Auditing Standards. Auditor's duties and responsibilities are considered before moving to planning the audit, performing the audit and arriving at an audit opinion. Students are exposed to the techniques used by auditors in carrying out audit procedures and evaluating audit evidence. Students are expected to further develop their critical thinking skills through applying technical audit principles to real-world auditing problems and corporate case studies. Students develop an appreciation for the essential role the auditor and the audit function play in enhancing the quality of financial statements and corporate governance. In this context, the unit critically examines contemporary audit issues, recent audit headlines and challenges faced by the audit profession in the Australian and global environment.
Unit details and rules
Managing faculty or University school:
Business (Business School)
| Study level | Postgraduate |
|---|---|
| Academic unit | Accounting |
| Credit points | 6 |
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Prerequisites:
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ACCT6001 |
|---|---|
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Corequisites:
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None |
| Prohibitions:
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None |
| Assumed knowledge:
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None |
At the completion of this unit, you should be able to:
- LO1. Explain the audit and assurance framework, audit processes, and the assurance function impact on users of corporate financial statements
- LO2. Describe and critically evaluate the concepts of audit risk and assurance, and follow audit testing procedures (including computer-assisted auditing testing techniques) grouped by financial report and audit assertions, for major transaction types and account balances across the accounting cycles
- LO3. Demonstrate an understanding of ethical challenges surrounding the audit profession and follow the development of case law in respect of the definition of auditor's responsibilities to clients and to third parties.
- LO4. Research and present to the workshop specific contemporary audit related issues
- LO5. Apply a critical understanding of the relationship between accounting and auditing in theory and in practice.
- LO6. Critically evaluate audit evidence, solve routine and complex auditing problems in straightforward and/or unfamiliar contexts using social, ethical, economic, regulatory, and global perspectives to make reasonable judgements both in an individual and group setting.
Unit availability
This section lists the session, attendance modes and locations the unit is available in. There is a unit outline for each of the unit availabilities, which gives you information about the unit including assessment details and a schedule of weekly activities.
The outline is published 2 weeks before the first day of teaching. You can look at previous outlines for a guide to the details of a unit.
| Session | MoA ? | Location | Outline ? |
|---|---|---|---|
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Semester 1 2024
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Normal day | Camperdown/Darlington, Sydney | |
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Semester 2 2024
|
Normal day | Camperdown/Darlington, Sydney |
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Modes of attendance (MoA)
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