Advanced Auditing and Assurance Services

1 ACCG811 Advanced Auditing and Assurance ServicesS2 Day2013 Accounting and Corporate GovernanceContentsGeneral Information 2 Learning Outcomes 2 Assessment Tasks 3 Delivery and Resources 7 Unit Schedule 9 Policies and Procedures 10 Graduate Capabilities 11 Macquarie University has taken all reasonablemeasures to ensure the information in thispublication is accurate and up-to-date.

2 However,the information may change or become out-datedas a result of change in University policies,procedures or rules. The University reserves theright to make changes to any information in are advised to check the websiteversion of this publication [or the relevant facultyor department] before acting on any information inthis InformationImportant Academic DatesInformation about important academic dates including deadlines for withdrawing from units areavailable understanding of the overall audit function and the reasons for an with the professional, legal, ethical and regulatory framework within whichaudits and other audit related and Assurance engagements are carried ability to examine the audit process and the techniques used by auditors includingbusiness risk analysis.

3 Internal controls assessment, evidence collection and evaluation,Unit convenor and teaching staffUnit ConvenorFiona via Level 2 Via email (also preferred contact method)Credit points4 PrerequisitesACCG611 or admission to MCorpGvnce prior to 2013 or admission to MCom or MIntBus orMEc or MActPrac prior to 2011 CorequisitesCo-badged statusUnit descriptionThis is an Advanced unit in Auditing and Assurance Services which examines the process ofauditing and the concepts which underlay the practice. Although the focus of attention is onaudits of financial reports undertaken in compliance with the Corporations Act 2001 (Cth),reference is also made to other forms of audit and Assurance .

4 The unit is intended to providean overview of the audit process as it exists in Australia, and is consistent with InternationalAuditing Standards. The unit is both practical and theoretical, with students required to applytheir knowledge to discussing cases developed from guideACCG811 Advanced Auditing and Assurance of computer assisted audit techniques and audit understanding of current developments in audit practiceAssessment TasksNameWeightingDueAssessed Coursework5%Reviewed in 5 seminarsClass Test 15%Week 4 SeminarClass Test 220%Week 7 SeminarCase Study20%Week 10 SeminarFinal Examination50%University Examination PeriodAssessed CourseworkDue.

5 Reviewed in 5 seminarsWeighting:5%Independent work on seminar assigned questions is fundamental to satisfying the learningobjectives of this unit. You are not expected to always have the right answers from yourindependent work but you are expected to make a significant attempt to complete allseminar questions before each is expected that, in addition to attendance atthe weekly seminars, you will need to spend 2 4 hours per week on readings andseminar questions in preparation for the next be submitted in your designated seminarExtensionNo extensions will be grantedPenaltiesIncomplete work on any set questions will result in reduced or zero marks awardedThis Assessment Task relates to the following Learning Outcomes.

6 An understanding of the overall audit function and the reasons for an audit familiarisation with the professional, legal, ethical and regulatory framework within whichaudits and other audit related and Assurance engagements are carried out an ability to examine the audit process and the techniques used by auditors includingbusiness risk analysis, internal controls assessment, evidence collection and evaluation,use of computer assisted audit techniques and audit reporting an understanding of current developments in audit practiceUnit guideACCG811 Advanced Auditing and Assurance Test 1 Due:Week 4 SeminarWeighting:5%The aim of the 15 minute class test is to provide you with on-going feedback relating to yourunderstanding and learning progress within the course up to and including week 3.

7 No materials,dictionaries or calculators will be permitted in the be undertaken and submitted in your designated seminarExtensionNo extensions will be granted ie there will be no supplemenatry testsPenaltiesStudents who do not sit the class test in the designated seminar will be awarded a mark of zero (0) for the test,except for cases in which an application for special consideration is made and approved. In these cases, the weightingwill be transferred to the final examination Assessment Task relates to the following Learning Outcomes: an understanding of the overall audit function and the reasons for an audit an ability to examine the audit process and the techniques used by auditors includingbusiness risk analysis, internal controls assessment, evidence collection and evaluation,use of computer assisted audit techniques and audit reportingClass Test 2 Due:Week 7 SeminarWeighting.

8 20%The aim of the 1 hour class test is to provide you with on-going feedback relating to yourunderstanding and learning progress within the course. It is designed to test yourknowledge of the topics covered in the course to date. The focus will be to test your abilityto critically analyse and evaluate information provided and to perform the auditingprocesses and techniques taught within a specific audit client issue materials,dictionaries or calculators will be permitted in the information on theformat, style of questions and content focus of the test will be provided in the seminar inWeek be undertaken and submitted in your designated seminarExtensionNo extensions will be granted ie there will be no supplementary who do not sit the class test in their designated seminar will be awarded a mark of zero (0) for the test,except for cases in which an application for special consideration is made and approved.

9 In these cases, the weightingwill be transferred to the final examination Assessment Task relates to the following Learning Outcomes:Unit guideACCG811 Advanced Auditing and Assurance an understanding of the overall audit function and the reasons for an audit familiarisation with the professional, legal, ethical and regulatory framework within whichaudits and other audit related and Assurance engagements are carried out an ability to examine the audit process and the techniques used by auditors includingbusiness risk analysis, internal controls assessment, evidence collection and evaluation.

10 Use of computer assisted audit techniques and audit reportingCase StudyDue:Week 10 SeminarWeighting:20%The aim of the group case study and presentation is to test students ability to integrate skills learntin Auditing and Assurance Services to analyse a real Australian company from the auditor sperspective and within the framework of Auditing standards. Students within a group are expected toundertake both independent and collaborative research, study and discussion for group environment provides the opportunity for students to interact andcommunicate with each other as is done in regarding the nature of thecase studyand presentation.