Company Auditing
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
Rule
Concurrent Pre-requisite
ACC60005 Accounting Principles
AND
ACC80006 Financial Reporting (Discontinued)
OR
Concurrent Pre-requisite
ACC60008 Accounting Systems and Reporting
AND
ACC80019 Financial Accounting and Theory
OR
ACC60008 Accounting Systems and Reporting
AND
ACC80019 Financial Accounting and Theory
02-November-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 |
| TOTAL | 150 |
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 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| 2D Assignment | Individual | 10 - 20% | 3,4,6 |
| Examination | Individual | 40 - 60% | 1,4,5,6 |
| Research Project | Group | 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.