Auditing and Assurance Services

This subject has the following teaching availabilities in 2016:

Estimated total time commitment of 120 hours per semester

ACCT90012 Corporate Reporting or equivalent.

None

None

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For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://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%)
• 2000 word assignment due in the second half of the semester (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.