Overview

The broad objective of this unit of study is to familiarise students with the underlying concepts, objectives and reporting function of the auditor. The unit deals with both theoretical and practical aspects of auditing. The aim is to integrate the concepts of auditing with practical approaches taken by the auditor to ensure participants gain a complete picture of the audit process.

Requisites

Concurrent prerequisites
ACC60005 Accounting Principles

OR

ACC60008 Accounting Systems and Reporting
AND
ACC80019 Financial Accounting and Theory

 

Teaching periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date
Semester 2
Location
Hawthorn
Start and end dates
29-July-2024
27-October-2024
Last self-enrolment date
11-August-2024
Census date
31-August-2024
Last withdraw without fail date
13-September-2024
Results released date
03-December-2024
Semester 2
Location
Hawthorn
Start and end dates
04-August-2025
02-November-2025
Last self-enrolment date
17-August-2025
Census date
31-August-2025
Last withdraw without fail date
19-September-2025
Results released date
09-December-2025

Learning outcomes

Students who successfully complete this unit will be able to:

  • Apply coherent and advanced knowledge of the nature and purpose of auditing within the regulatory auditing environment
  • Utilise knowledge of research principles to plan and execute a piece of research on a critical and current topic of auditing
  • Operate effectively as a leader and member of a group to achieve set goals relating to building of knowledge of auditing
  • Critically evaluate the audit process and the need for financial report audits
  • Apply the concepts of good corporate governance and ethical business practice and their significance for the auditor
  • Demonstrate an understanding of financial audit in practice including the use of data analytics in the conduct of an efficient and effective audit.

Teaching methods

Hawthorn

Type Hours per week Number of weeks Total (number of hours)
On-campus
Class		2.00 12 weeks 24
Unspecified Activities
Independent Learning		9.50 12 weeks 114
Online
Lecture		1.00 12 weeks 12
TOTAL150

Swinburne Online

Type Hours per week Number of weeks Total (number of hours)
Online
Directed Online Learning and Independent Learning		12.50 12 weeks 150
TOTAL150

Assessment

Type Task Weighting ULO's
2D AssignmentIndividual 10 - 20% 3,4,6 
ExaminationIndividual 40 - 60% 1,4,5,6 
Research ProjectGroup 30 - 40% 1,2,3 

Content

Theoretical topics studied include:

  • auditing methodology
  • formulation of auditing standards
  • audit independence and other ethical considerations
  • the rights, duties and legal liability of auditors
  • audit report and the concept of risk
  • materiality and audit evidence
  • encompassing a review of internal control structures
  • attendant control risk
  • impact of auditing in a CIS environment
  • Audit sampling methodologies
  • Audit data analytics

Study resources

Reading materials

A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.