Auditing and Assurance Services

This subject has the following teaching availabilities in 2013:

Estimated total time commitment of 120 hours per semester

ACCT90012 Corporate Reporting or equivalent.

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For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

Development of an understanding of the processes and practices involved in external auditing of general purpose and other financial reports within the framework of Auditing Standards and the Corporations Law, exploration of underpinning theory as to why audits and other assurance services are demanded, the role these services play in reducing information risk and the various threats to auditor independence that present themselves.

On successful completion of this subject, students should be able to:

• Describe the ethical, legal and professional environments in which audit and assurance providers operate;
• Conduct client risk assessments pertinent to the audit and assurance process;
• Apply the concepts and processes used by audit and assurance service providers to gather evidence and formulate judgments with respect to the underlying information;
• Describe the various reporting obligations of and options available to audit and assurance providers.

• 3-hour end-of-semester examination (60%)
• 1-hour mid-semester test (20%)
• Assignments totalling not more than 2000 words (20%)

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evidence collection;
• Information analysis;
• Problem solving;
• Decision making;
• Oral/written communication;
• Collaborative learning and team work.

This subject cannot be taken by Master of Accounting students except with the permission of the Program Director, Master of Accounting.