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Faculty of Business and Law School of Accounting

Unit Outline

ACCT3000 Auditing Semester 2, 2018

Accounting Unit Outline ACCT3000 Auditing Semester 2, 2018 Unit study package code: ACCT3000 Mode of study:

Unit study package code:

ACCT3000

Mode of study:

Internal

Tuition pattern summary:

Note: For any specific variations to this tuition pattern and for precise information refer to the Learning Activities section.

Credit Value:

Pre-requisite units:

Lecture: 1 x 1.5 Hours Weekly Workshop: 1 x 1.5 Hours Weekly

This unit does not have a fieldwork component.

25.0

305229 (v.0) Advanced Financial Accounting 260 or any previous version

OR

ACCT2006 (v.0) Financial Reporting or any previous version

Co-requisite units:

Nil

Anti-requisite units:

Nil

Result type:

Grade/Mark

Approved incidental fees:

Information about approved incidental fees can be obtained from our website. Visit fees.curtin.edu.au/incidental_fees.cfm for details.

Unit coordinator:

Title:

Dr

Name:

Abhijeet Singh

Phone:

+61 8 9266 2382

Email:

Abhijeet.S@cbs.curtin.edu.au

Location:

Building: 407 - Room: 432

Consultation times:

Please Refer to Blackboard

Teaching Staff:

Administrative contact:

Name:

Ms Eveline Indra

Phone:

+61 8 9266 2869

Email:

eveline.indra@curtin.edu.au

Location:

Building: 407 - Room: 422a

Learning Management System: Blackboard (lms.curtin.edu.au)

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Acknowledgement of Country

We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and present. The Centre for Aboriginal Studies aspires to contribute to positive social change for Indigenous Australians through higher education and research.

Syllabus

An overview of assurance and ethics, independence and corporate governance. Understanding of the company audit process including audit planning - the concepts of materiality and audit risk. The evaluation and testing of internal control systems and substantive audit testing of transactions and balances. The finalisation of the audit and audit reporting.

Introduction

Welcome to Auditing for Semester 2, 2018! I hope that you find this a rewarding and interesting unit. The purpose of the unit is to introduce students to auditing, with the emphasis on practical auditing concepts, the auditor's decision-making processes and the appropriate audit procedures which auditors follow in different circumstances. The theme of the course is the external audit of reporting entities, from initial planning to final reporting in the context of a professional assurance environment.

We will begin the course by examining the audit process in an overview format and we will regularly return to this overview to identify the stage of the audit process we are examining. A significant part of this course is spent examining the audit planning process, which is the most important aspect of the audit. To this end, we will examine a number of examples during lectures and workshops that analyse financial statements and identify the key risk areas from the auditor’s perspective.

This is not very different from financial statement analysis studies you have completed in other areas of your degree. What is different is how we use this information in terms of the audit emphasis. Remember, auditors are not responsible for preparing the accounting information (i.e. the general purpose financial report). Their job is to audit the financial statements with a view to providing an audit opinion in accordance with Australian Auditing and Assurance Standards.

Auditing is a challenging unit and students should be mindful of the following points:

1.The purpose of the lecture notes (available on Blackboard) is to give guidance on the various topics covered in the course. As it is impossible to cover every aspect of a topic in such notes, it is essential that students acquaint themselves thoroughly with a topic by reading the relevant sections of the prescribed texts and other reference material prior to attending lectures.

2.The key to success in Auditing is PRACTICE . Students will be assisted in this process by considering workshop questions that ask for the application of auditing concepts. Students should set aside a minimum of ten hours per week to complete the readings, workshop practice questions, workshop assessment and to study sufficiently to achieve the required level of understanding and competence in the unit. Depending on your ability and academic background, you may need to devote more or less time to this unit than the hours shown. For example, ESL (English is a second language) students may need to devote more time to reading and review tasks than the hours shown.

Unit Learning Outcomes

All graduates of Curtin University achieve a set of nine Graduate Attributes during their course of study. These inform an employer that, through your studies, you have acquired discipline knowledge and a range of other skills and attributes which employers would value in a professional setting. Each unit in your course addresses the Graduate Attributes through a clearly identified set of learning outcomes. They form a vital part in the process referred to as assurance of learning. The learning outcomes notify you of what you are expected to know, understand or be able to do in order to be successful in this unit. Each assessment for this unit is carefully designed to test your knowledge of one or more of the unit learning outcomes. On successfully completing all of the assessments you will have achieved all of these learning outcomes.

Your course has been designed so that on graduating you will have achieved all of Curtin's Graduate Attributes

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

through the assurance of learning processes in each unit.

 

On successful completion of this unit students can:

Graduate Attributes addressed

1

Explain the regulatory and ethical framework in which auditors operate

1 Explain the regulatory and ethical framework in which auditors operate
1 Explain the regulatory and ethical framework in which auditors operate
1 Explain the regulatory and ethical framework in which auditors operate

2

Analyse financial information to identify key risk areas and their impact on the audit approach

2 Analyse financial information to identify key risk areas and their impact on the audit approach
2 Analyse financial information to identify key risk areas and their impact on the audit approach
2 Analyse financial information to identify key risk areas and their impact on the audit approach

3

Apply appropriate audit procedures to key risk areas

3 Apply appropriate audit procedures to key risk areas
3 Apply appropriate audit procedures to key risk areas
3 Apply appropriate audit procedures to key risk areas

4

Prepare and justify an audit opinion for a given set of circumstances

4 Prepare and justify an audit opinion for a given set of circumstances
4 Prepare and justify an audit opinion for a given set of circumstances
4 Prepare and justify an audit opinion for a given set of circumstances

Curtin's Graduate Attributes

Apply discipline knowledge Thinking skills Information skills

Apply discipline knowledge

Apply discipline knowledge Thinking skills Information skills

Thinking skills

Apply discipline knowledge Thinking skills Information skills

Information skills

(use analytical skills to solve problems)

(confidence to investigate new ideas)

    Learning how to learn
 
    Learning how to learn
 
    Learning how to learn

Learning how to learn

Communication skills

Technology skills

(apply principles learnt to new situations) (confidence to tackle unfamiliar problems)

International perspective Cultural understanding Professional Skills

International perspective

International perspective Cultural understanding Professional Skills

Cultural understanding

International perspective Cultural understanding Professional Skills

Professional Skills

(value the perspectives of others)

(value the perspectives of others)

(work independently and as a team) (plan own work)

Find out more about Curtin's Graduate attributes at the Office of Teaching & Learning website: ctl.curtin.edu.au

Learning Activities

The strategies used in this unit to facilitate your learning process include lectures, workshops, written assignments, a mid-semester examination, and an independent final examination.

Lectures

Each lecture will cover the material for the topic as detailed in the Program calender of this unit outline. In this unit, it is highly recommended that you come prepared to each lecture. By doing this, you can maximise the value of attending lectures and can contribute readily to discussions, if any, concerning objectives and content. In addition, your ability to both understand and demonstrate understanding of the material through any lecture activities (cooperatively or otherwise) will be significantly enhanced if you are adequately prepared. To assist you in achieving these objectives, you will be provided access to the lecture material (i.e. PowerPoint slides) the week before each lecture.

Workshops

The workshops provide students with an opportunity to improve their understanding and technical competence by completing a range of questions and problems related to each topic. In addition, workshop participation encourages the development of oral communication skills, teamwork and group skills, as well as problem solving and critical thinking skills. To this end, students are encouraged (and expected) to contribute and participate at the workshops. To get maximum benefit from the use of workshops, you should be prepared in advance for each workshop by having (a) analysed the topic in advance (b) completed the required readings (c) completed the set questions and problems (d) drafted a set of questions concerning problems encountered during reading of the topic and/or preparation for workshops.

In addition, one important aspect of using the workshops as a learning aid is the follow up. It really is in your best interests as soon as possible after the workshop to follow up on any aspects raised as a consequence of that workshop. You should ask yourself if you are satisfied that you have achieved the topic objectives. Were there any general issues that have not been addressed? Can you see how this topic relates to previous topics? Are there any technical or conceptual issues that are still causing you concern? Remember that what you get out of workshops is directly related to what you are willing to put into them by way of preparation and contribution. To assist you with this, the course material will keep closely to the required text.

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Learning Resources

Essential texts

The required textbook(s) for this unit are:

l

Gay,R. and Simnett,R. (2017). Auditing & Assurance Services in Australia (6th Ed REVISED), McGraw Hill

(ISBN:9781760420901).

(ISBN/ISSN: 9781760420901)

l

Business Communication: A Handbook for Accounting Students and Graduates. Pearson Australia (ISBN:

9781488618789).

Students have the option of purchasing the physical textbook from the Curtin University Co-op Bookstore,

or purchasing the eBook through Pearson Website (http://www.pearson.com.au/9781488618789)

(ISBN/ISSN: 9781488618789)

l

CAANZ Auditing, Assurance and Ethics Handbook 2017: John Wiley & Sons (ISBN:9780730343028).

(ISBN/ISSN: 9780730343028)

Recommended texts

You do not have to purchase the following textbooks but you may like to refer to them.

l

Moroney, R., Campbell, F., Hamilton, J. (2013). Auditing : A Practical Approach (2nd Ed), John Wiley & Sons

(ISBN:9780730305606)

(ISBN/ISSN: 9780730305606)

l

Leung, P., Coram, P., Cooper, B.J., Richardson, P. (2015). Modern Auditing & Assurance Services (6th Ed), Australia:

John Wiley & Sons (ISBN:9781118615249).

(ISBN/ISSN: 9781118615249)

Other resources

This unit makes use of the Web-based learning resource, Blackboard. In Blackboard, you will find in electronic form:

l

PowerPoint slides for each workshop lecture;

l

One practice/mock mid-semester and final examination paper, including suggested solutions and marking guide. This will be made available on Blackboard two weeks prior to the respective examinations.

l

In “Announcements”, messages to you from time to time from the Unit Controller.

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Assessment

Assessment schedule

       

Unit

   

Task

Value

%

Date Due

Learning

Outcome(s)

Assessed

Late

Assessments

Accepted?*

Assessment

Extensions

Considered?*

1

Mid-Semester Test

30%

Week: 7 Day: Saturday Time: 1.30 PM

1,2,3

No

Yes

2

Case Study 1

10%

Week: 6 Day: Monday Time: 6:00 PM

1,2,3

Yes

Yes

3

Case Study 2

10%

Week: 13 Day: Monday Time: 6:00 PM

1,2,3

Yes

Yes

4

Final Exam

50%

Week: 16 & 17 Day: TBA Time: TBA

2,3,4

No

Yes

*Please refer to the Late Assessment and the Assessment Extension sections below for specific details and conditions.

Detailed information on assessment tasks

1. A mid-semester exam will be completed by you on 15/09/2018 (Saturday) commencing at 1.30 pm. The mid-semester examination will be a restricted book examination (with the exception of the CAANZ Auditing, Assurance and Ethics Handbook - see section titled 'additional information') of one hour and thirty minutes plus 10 minutes reading time and will cover all course materials from Chapters 1, 2, 3, 4 and 5. Please be at your respective venue by 1 pm. The details of the exam venue(s) will be posted on Blackboard.

The structure and format of the mid-semester exam is as follows: There will be 35 Multiple-Choice Questions worth 35 marks in total (i.e. one mark each) and one short-essay question worth 15 marks. This will then be scaled down to 30%. Students will be provided mock Mid-Semester exam paper which would provide details on the structure and format of the exam. Students can view their Mid Semester exam papers to receive feedback during the specific consultation hours that will be allocated.

2. The first case study assignment activity that constitutes 10% of the total assessment marks will involve a case study based on Chapter 3 of the prescribed textbook (Ethics, Independence and Corporate Governance). Students will be required to submit their assignment via Turnitin by 6pm, 03/09/2018 (Monday). The assignment will only be made known to students through Blackboard two weeks before the due date. Assessment will be based on the criteria in the Assignment Marking Guide

(AMG) that will be uploaded on Blackboard. Feedback on the assignment will be uploaded through the online

Assignment Marking Guide (AMG) on Blackboard. The instructions for submission of the assignments will be announced on Blackboard.

The work you submit must be your own. Any plagiarism from other students’ work or from solutions circulating from ‘solutions manuals’ will result in an automatic zero score for the submission. Significant penalties are imposed where assignments are found to be plagiarised. The University policy on plagiarism and academic misconduct can be found on this webpage: http://academicintegrity.curtin.edu.au/local/docs/StudentPlagiarismGuide.pdf

3. The second assignment activity that constitutes another 10% of the total assessment marks will involve writing a memorandum based on your risk assessment as an auditor. You will also be required to provide recommendations on the audit approach to be used. Assignment 2 will be based on Chapters 4 to 9 of your prescribed textbook. An exemplar for the memorandum required is provided in the following prescribed textbook:

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Business Communication: A Handbook for Accounting Students and Graduates: Pearson Australia (ISBN:

9781488618772).

Students will be required to submit their assignment via Turnitin by 6pm, 22/10/2018 (Monday). Again, the assignment will only be made known to students through Blackboard two weeks before the due date. Assessment will be based on the criteria in the Assignment Marking Guide (AMG) that will be uploaded on Blackboard. The instructions for submission of the assignments will be announced on

Blackboard. Feedback on the assignment will be uploaded through the online Assignment Marking Guide (AMG) on Blackboard.

The work you submit must be your own. Any plagiarism from other students’ work or from solutions circulating from ‘solutions manuals’ will result in an automatic zero score for the submission. Significant penalties are imposed where assignments are found to be plagiarised. The University policy on plagiarism and academic misconduct can be found on this webpage: http://academicintegrity.curtin.edu.au/local/docs/StudentPlagiarismGuide.pdf

4. The final examination will cover material from each of the topics in the unit. The examination will be a closed book examination (with the exception of the CAANZ Auditing, Assurance and Ethics Handbook – see section titled 'additional information') and be of three hours and ten minutes duration. Mock exam paper with the information about the format and structure of the final examination will be posted on Blackboard during study week. Students will not be given individual information about the examination. Given the weighting of the assessment, students are strongly encouraged to prepare a study program as soon as possible. This will assist you in keeping abreast with the lecture and workshop workload as well as subsequently assist you with your revision.

The final examination will be held during the formal examination period. It is your responsibility to check the date and time of the final examination. University policy disallows information regarding the examination timetable to be given over the telephone and no final results are available prior to the Board of Examiners meeting held after the examination.

Pass requirements

To pass this unit you must attempt all assessments and receive an overall grade of 5 or more and a mark greater than or equal to 50.

Fair assessment through moderation

Moderation describes a quality assurance process to ensure that assessments are appropriate to the learning outcomes, and that students work is evaluated consistently by assessors. Minimum standards for the moderation of assessments are described in the Assessment and Student Progression Manual, available from policies.curtin.edu.au/findapolicy/

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Late assessment

Where the submission of a late assessment is permitted, late penalties will be consistently applied in this unit.

Where a late assessment is permitted for an assessment item or the entirety of the unit (refer to the Assessment Schedule table in this Unit Outline) and the student does not have an approved assessment extension:

1. For assessment items submitted within the first 24 hours after the due date/time, students will be penalised by a deduction of 5% of the total marks allocated for the assessment task;

2. For each additional 24 hour period commenced an additional penalty of 10% of the total marks allocated for the assessment item will be deducted; and

3. Assessment items submitted more than 168 hours late (7 calendar days) will receive a mark of zero.

Where late assessment is NOT permitted for an assessment item or the entirety of the unit (refer to the Assessment Schedule table in this Unit Outline) and the student does not have an approved assessment extension:

1. All assessment items submitted after the due date/time will receive a mark of zero.

Assessment extension

Where an application for an assessment extension is permitted for an assessment item(s) within this unit (refer to the Assessment Schedule table in this Unit Outline):

1. A student unable to complete an assessment item by/on the due date/time due to exceptional circumstances beyond the student's control, must apply for an assessment extension using the Assessment Extension Application Form (available from the Forms page at students.curtin.edu.au/administration/) as prescribed by the Academic Registrar.

2. The student will be expected to lodge the form with supporting documentation to the school representative nominated below.

3. Failure to submit this application in a timely manner, may impact upon the assessment process. For applications that are declined this may have significant ramifications on the possible marks awarded.

4. An application may be accepted up to five working days after the due date/time of the assessment item where the student is able to provide a verifiable explanation as to why he or she was not able to submit the application prior to the assessment due date/time.

Where an application for an assessment extension is NOT permitted for an assessment item(s) within this unit (refer to the Assessment Schedule table in this Unit Outline):

1. All assessment items submitted after the due date/time will be subject to late penalties or receive a mark of zero depending on the unit permitting late assessment submissions.

Deferred assessments

If your results show that you have been granted a deferred assessment you should immediately check OASIS for details.

Deferred examinations/tests will be held from 04/02/2019 to 15/02/2019 . Notification to students will be made after the Board of Examiners’ meeting via the Official Communications Channel (OCC) in OASIS.

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Further assessment

Further assessments, if granted by the Board of Examiners, will be held between 04/02/2019 and 15/02/2019 . Notification to students will be made after the Board of Examiners meeting via the Official Communications Channel in OASIS.

It is the responsibility of the student to be available to complete the requirements of a further assessment. If your results show that you have been granted a further assessment you should immediately check OASIS for details.

Reasonable adjustments for students with disabilities/health circumstances likely to impact on studies

A Curtin Access Plan (CAP) is a document that outlines the type and level of support required by a student with a

disability or health condition to have equitable access to their studies at Curtin. This support can include alternative exam or test arrangements, study materials in accessible formats, access to Curtin’s facilities and services or other support as discussed with an advisor from Disability Services (disability.curtin.edu.au). Documentation is required from your treating Health Professional to confirm your health circumstances.

If you think you may be eligible for a CAP, please contact Disability Services. If you already have a CAP please

provide it to the Unit Coordinator at the beginning of each study period.

Referencing style

The referencing style for this unit is Chicago.

More information can be found on this style from the Library web site:

Privacy

As part of a learning or assessment activity, or class participation, your image or voice may be recorded or transmitted by equipment and systems operated by Curtin University. Transmission may be to other venues on campus or to others both in Australia and overseas.

Your image or voice may also be recorded by students on personal equipment for individual or group study or assessment purposes. Such recordings may not be reproduced or uploaded to a publically accessible web environment. If you wish to make such recordings for study purposes as a courtesy you should always seek the permission of those who are impacted by the recording.

Recording of classes or course materials may not be exchanged or distributed for commercial purposes, for compensation, or for any other purpose other than personal study for the enrolled students in the unit. Breach of this may subject a student to disciplinary action under Statute No 10 – Student Disciplinary Statute.

If you wish to discuss this please talk to your Unit Coordinator.

Copyright

The course material for this unit is provided to you for your own research and study only. It is subject to copyright. It is a copyright infringement to make this material available on third party websites.

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Academic Integrity (including plagiarism and cheating)

Any conduct by a student that is dishonest or unfair in connection with any academic work is considered to be academic misconduct. Plagiarism and cheating are serious offences that will be investigated and may result in penalties such as reduced or zero grades, annulled units or even termination from the course. Assessments under investigation will not be given a mark until the matter is concluded. This may result in the unit grade being withheld or a grade of Fail Incomplete (F-IN) until a decision has been made by the Student Disciplinary Panel. This may impact on enrolment in further units/study periods.

Plagiarism occurs when work or property of another person is presented as one's own, without appropriate acknowledgement or referencing. Submitting work which has been produced by someone else (e.g. allowing or contracting another person to do the work for which you claim authorship) is also plagiarism. Submitted work is subjected to a plagiarism detection process, which may include the use of text matching systems or interviews with students to determine authorship.

Cheating includes (but is not limited to) asking or paying someone to complete an assessment task for you or any use of unauthorised materials or assistance during an examination or test.

From Semester 1, 2016, all incoming coursework students are required to complete Curtin’s Academic Integrity Program (AIP). If a student does not pass the program by the end of their first study period of enrolment at Curtin, their marks will be withheld until they pass. More information about the AIP can be found at:

Refer to the Academic Integrity tab in Blackboard or academicintegrity.curtin.edu.au for more information, including student guidelines for avoiding plagiarism.

Information and Communications Technology (ICT) Expectations

Curtin students are expected to have reliable internet access in order to connect to OASIS email and learning systems such as Blackboard and Library Services.

You may also require a computer or mobile device for preparing and submitting your work.

For general ICT assistance, in the first instance please contact OASIS Student Support:

For specific assistance with any of the items listed below, please contact The Learning Centre:

l

Using Blackboard, the I Drive and Back-Up files

l

Introduction to PowerPoint, Word and Excel

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Additional information

Other information on Mid Semester and Final Exam

Students will be allowed to take only their CAANZ Auditing, Assurance and Ethics Handbook into the exam venue. The handbook may be underlined, highlighted and tagged. The title and number of both the Auditing Standard and its respective sections can be written on the tags. The Handbook cannot be written in nor can it include notes or additional sheets. Students in breach of this rule will have their handbook removed and shall be subject to the university’s policy on cheating. Students who choose to use borrowed handbooks/used handbooks have the responsibility for ensuring that their handbook does not breach the requirements above.

Remember to bring your Curtin Student ID card to all examinations and place it on the desk in front of you. You will not be allowed to complete the examination without your ID card.

The Curtin School of Accounting Facebook page will also contain much information that may be of use to you, including careers information. Please sign up if you are on Facebook and join in the community!

The information here is available through other channels, but it is all here for ease of access.

Enrolment:

It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the eStudent option on OASIS, where you can also print an Enrolment Advice.

Further Assessment Student Eligibility:

A student is eligible for consideration for further assessment if they:

l

Are enrolled in a unit within their first 200 credit points of study in their course OR in a unit in their final study period of a course; and

l

Have attempted all required assessment tasks in the unit;

l

Have not been found guilty of academic misconduct in the unit.

Please note, Further Assessment are granted by the Board of Examiners.

Enrolment

It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the eStudent option on OASIS, where you can also print an Enrolment Advice.

Student Rights and Responsibilities

It is the responsibility of every student to be aware of all relevant legislation, policies and procedures relating to their rights and responsibilities as a student. These include:

l

the Student Charter

l

Values and Signature Behaviours

l

the University's policy and statements on plagiarism and academic integrity

l

copyright principles and responsibilities

l

the University's policies on appropriate use of software and computer facilities

Information on all of the above is available through the University's "Student Rights and Responsibilities" website at: students.curtin.edu.au/rights.

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Student Equity

There are a number of factors that might disadvantage some students from participating in their studies or assessments to the best of their ability, under standard conditions. These factors may include a disability or medical condition (e.g. mental illness, chronic illness, physical or sensory disability, learning disability), significant family responsibilities, pregnancy, religious practices, living in a remote location or another reason. If you believe you may be unfairly disadvantaged on these or other grounds please contact Student Equity at eesj@curtin.edu.au or go to http://eesj.curtin.edu.au/student_equity/index.cfm for more information

You can also contact Counselling and Disability services: http://www.disability.curtin.edu.au or the Multi-faith services: http://life.curtin.edu.au/health-and-wellbeing/about_multifaith_services.htm for further information.

It is important to note that the staff of the university may not be able to meet your needs if they are not informed of your individual circumstances so please get in touch with the appropriate service if you require assistance. For general wellbeing concerns or advice please contact Curtin's Student Wellbeing Advisory Service at:

Recent unit changes

Students are encouraged to provide unit feedback through eVALUate, Curtin's online student feedback system. For more information about eVALUate, please refer to evaluate.curtin.edu.au/info/.

To view previous student feedback about this unit, search for the Unit Summary Report at

To view previous student feedback about this unit, search for the Unit Summary Report at https://evaluate.curtin.edu.au/student/unit_search.cfm. See https://evaluate.curtin.edu.au/info/dates.cfm to find out when you can eVALUate this unit.

Recent changes to this unit include:

We welcome feedback as one way to keep improving this unit. Students are encouraged to provide unit feedback through eVALUate, Curtin's online student feedback system (see evaluate.curtin.edu.au/info/). Recent changes to this unit include:

1. Improved iLecture functionality; 2. A text customised to the Auditing unit; 3. Inclusion of two individual written assessments addressing the attributes of disciplinary knowledge and ethical reasoning; and 4. Reduced weightage of the final exam towards the overall mark. See evaluate.curtin.edu.au to find out when you can eVALUate this unit.

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting

Program calendar

Program Calendar – Semester 2 2018

Lecture topics and workshop questions are selected from the required text. Australian Auditing Standards (ASAs), Auditing and Assurance Standards (AUSs), the Code of Ethics for Professional Accountants (APES 110), Guidance Statements (GSs), the Standards on Review Engagements (ASREs) and the Standards on Assurance Engagements (ASAEs) are located in the CAANZ Auditing, Assurance and Ethics Handbook.

Week

Begin

Lecture/

Pre-

Tutorial

Prescribed

Date

readings

Auditing

Seminar

Standards

1.

30

July

Assurance and auditing: an overview

Audit regulation, structure of the profession and auditor’s liability

Chapters 1 & 2

No questions to prepare but to attend workshop for unit familiarisation.

ASQC 1

 

ASA 101, 200, 220, 315 & 700

APES 210 & 320

   

ASAE 3000

2.

 

6

Ethics, independence and corporate governance

Chapter 3

RQ* 1.2, 1.11

ASQC 1

August

ASA 102, 200 & 240

 

DP** 1.14, 1.15, 2.21

APES 110 & 320

3.

 

13

Overview of elements of the financial reporting audit process

Chapter 4

RQ 3.4, 3.6, 3.7

ASA 200, 230, 315, 320, 330, 450, 500, 501, 540, 580, 600 &

August

 

DP 3.17, 3.25

620

GS 011

4.

 

20

Planning, understanding the entity and evaluating business risk

Chapter 5

RQ 4.4, 4.7, 4.9

ASQC 1

August

ASA 210, 220, 300, 315, 330, 510, 520 &

 

DP 4.17, 4.19, 4.25

710

APES 110, 305 &

320

5.

 

27

 

Tuition Free Week

August

 

6.

3 Sept

Assessing inherent risk and other specific business risks

Chapter 6

RQ 5.3, 5.11

ASA 200, 240, 250,

300, 315, 330, 550 &

     

570

Case Study 1 due by 03/09/2018 (Monday) 6PM

DP 5.16, 5.27

7.

10

Sept

Understanding and assessing internal control

Chapter 7

RQ 6.1, 6.9, 6.10

ASA 315, 402 & 610

 

DP 6.15, 6.26

Mid Semester Exam on 15/09/2018 (Saturday)

1.30PM

8.

17

Sept

Tests of controls

Chapter 8

RQ 7.7, 7.8

ASA 315, 330, 402 & 500

Faculty of Business and Law School of Accounting

Faculty of Business and Law School of Accounting
       

DP 7.16, 7.18

 

9.

24

Sept

 

Tuition Free Week

   

Substantive tests of transactions and balances – cash, sales, purchases and inventory system

 

RQ 8.6, 8.8

ASA 315, 330, 500,

10.

1

Oct

Chapter 9

501, 505, 520, 540,

   

560

& 620

GS 016

 

DP 8.19, 8.20

11.

8

Oct

Substantive tests of transactions and balances – accounts payable, payroll, non-current assets/liabilities, owners’ equity

Chapter 9

 

ASA 315, 330, 500, 501, 505, 520, 540,

 

RQ 9.5, 9.8

560

& 620

DP 9.22, 9.25

GS 016

12.

15 Oct

Completion and review

Chapter

RQ 9.9, 9.11

ASA 320, 450, 500, 520, 540, 550, 560, 570, 580 & 720

11

DP 9.27, 9.28

13.

22

Oct

The auditor’s reporting obligations

Chapter

RQ 11.4, 11.13

ASA 101, 260, 265, 450, 570, 700, 701, 705, 706, 710 & 720

 

12

Case Study 2 due by 22/10/2018 (Monday) 6PM

DP 11.19, 11.27

GS 006 & 010

14.

29

Oct

Revision lecture

 

RQ 12.6, 12.7

 
 

DP 12.22, 12.23

15.

5

Nov

 

Study Week

16.

12

Nov

 

Examination Week 1

 

17.

19

Nov

 

Examination Week 2

 

RQ* = Review Questions DP** = Discussion Problems and Case Studies IMPORTANT: In order to assist you with developing a study plan, please note that, in terms of estimated work time per week, reading/lecture preparation requires an average of 3 hours, lecture/workshop attendance an average of 3 hours and completion of workshop questions and revision an average of 4 hours. This potentially requires you to allocate an average of 10 hours per week for ACCT3000 Auditing. Depending on your ability and academic background, you may need to devote more or less time to this unit than the hours shown.