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Auditing and Assurance Services - ATAX0060
Library

 
Faculty: Faculty of Law
 
 
School:  Australian School of Taxation
 
 
Course Outline: See below
 
 
Campus: ATAX Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 0
 
 
Enrolment Requirements:
 
 
Prerequisite: ATAX0015
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
 

Description

This course examines the practice of auditing and the concepts which underlie the practice. It examines the shift from the traditional auditing services where a high level of assurance is provided to the demand for lower levels of assurance for products other than the financial report. The focus of attention is on the financial report audit carried out under the provisions of the Australian Corporations Securities Legislation. New audit methodologies are also examined. The course provides an overview of the audit process as it exists in Australia. It is broken into a number of modules, each forming part of the audit process.


Recommended Prior Knowledge

ATAX0015 Intermediate Financial Accounting (formerly Advanced Financial Accounting and Reporting) is the prerequisite for this course.

Course Objectives

The main objectives of this course are to:
  • Develop students' understanding of the audit function and of the reasons for an audit
  • Familiarise students with the professional, legal, commercial and regulatory constraints within which audits are carried out
  • Examine techniques used by auditors including risk analysis, evidence collection and evaluation, and audit reporting
  • Familiarise students with current developments in audit practice and research
  • Explain the nature and importance of professional ethics
  • Familiarise students with the requirements of the professional code of conduct

Main Topics

  • The auditing and assurance framework
  • The audit process, risk and planning
  • Risk assessment and internal controls
  • Evidence collection
  • IT and the auditor
  • Completion and reporting
  • Ethics, auditors and the law
  • The public sector and current issues

Assessment

Assignment 1 - 20%
Assignment 2 - 15%
My eLearning Vista MCQ Quizzes, 3 quizzes (5% each) - 15%
Final Exam, Closed book, 2 hours duration - 50%

Course Texts

Prescribed

  • Gay G and Simnett R, Auditing and Assurance Services in Australia (Sydney, Irwin/McGraw Hill, Revised 3rd ed, 2007)
  • Trussel J M and Frazer JD, The Lakeside Company, Case Studies in Auditing (Prentice-Hall 11th ed, 2008)
  • Auditing Standards can be accessed via the web at http://www.auasb.gov.au/standards.htm
Citation and Style Guides
The following is a selection of acceptable citation and style guides, which you may use as the basis for your written work. You must purchase or have access to one of the following publications:
  • Rozenberg P, Australian guide to uniform legal citation (Sydney: Lawbook Co, 2nd ed, 2003)
  • Stuhmcke A, Legal referencing (Sydney: Butterworths, 3rd ed, 2005)
  • Australian guide to legal citation (Melbourne University Law Review Association, 2nd ed, 2002) - Available from http://mulr.law.unimelb.edu.au/aglc.asp

Note that in disciplines other than Law (ie, Accounting and Economics) the literature in these courses has, for the most part, been written in the Harvard style and in these courses you may prefer to use the Harvard style of referencing. Guides to using the Harvard style can be accessed at the following websites:

http://www.lc.unsw.edu.au/onlib/ref.html
http://www.usq.edu.au/library/infoabout/ref_guides/default.htm

In this course, it is acceptable to use either one of the prescribed legal styles, or the Harvard style. However, whatever style you adopt must be used consistently and correctly - you must not mix one style with another.

Recommended
Refer to Course Profile supplied by Lecturer.

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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.