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UNIT CODE: ACC303

AUDIT AND ASSURANCE

UNIT DESCRIPTION

This unit examines the essential role of audit and the professional auditor in modern business enterprises. It examines the legal obligations and responsibilities of companies, before explaining the audit process and describing the audit environment, including responsible agencies, legislation, and auditing standards and practice. The unit considers the concepts of operational risk assessment and materiality as well as the nature of audit evidence. The unit concludes with students being exposed to ethical requirements, corporate governance and other current issues in auditing and assurance.

STUDENT WORKLOAD + DELIVERY MODE

TIMETABLED HOURS

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RECOMMENDED PERSONAL HOURS

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TOTAL WORKLOAD HOURS

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STUDY LOAD

3 Hours per week

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5 Hours per week

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8 Hours per week

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Full time 

MODE OF DELIVERY

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This unit will be offered to students in the following mode/s:

+ Face-to-face (Domestic and International) 

+ Online (Domestic)

OVERVIEW

Award Course

Bachelor of Business Accounting

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Area

Accounting

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Unit Duration

12 Weeks

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Weekly Attendance Pattern

3 hour session

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Unit Level

300

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Unit Weighting

6 Credit Points

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Unit Type

Core Unit

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Pre-Requisites

ACC104 Accounting Information Systems (or equivalent)​

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Co-Requisites

N/A

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Work Integrated Learning

No

UNIT LEARNING OUTCOMES

  • Explain the role of the auditor in modern businesses with those of directors and financial employees

  • Evaluate the professional, legal and ethical responsibilities of an auditor and the need for independent audits

  • Assess the regulatory environment within which auditors operate

  • Outline the audit process for the conduct of a financial statement audit and justify the choice of audit report issued

  • Apply the auditing principles and standards, including audit assertions, audit evidence and materiality to case based scenarios

  • Assess the requirements of corporate financial reporting and related systems audits 

ASSESSMENT STRUCTURE

ASSESSMENT TASK

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  • Assessment 1: Tutorial Quizzes

  • Assessment 2: Group Report & Presentation

  • Assessment 3: Final Exam

  • Assessment 4: Engagement with the Process 

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