Module Details

Module Code: BUSS C3319
Module Title: Audit and Assurance 1
Title: Audit and Assurance 1
Module Level:: 8
Credits:: 5
Module Coordinator: Myles Kelly
Module Author:: Mairead Bohan
Domains: Business
Module Description: The aim of this module is to equip students with a knowledge and understanding of the concepts and principles of the audit and assurance process (enabled by the students’ knowledge from Financial Accounting). The students will gain an appreciation of its application in the context of the professional regulatory and ethical framework.
The depth and breadth of module content and assessment are designed to gain maximum exemptions from professional accountancy bodies, appropriate to a B.A. (Honours) in Accounting program.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Define and explain the key terms, concepts and practices for the audit framework, regulatory environment, corporate governance, ethics and internal audit, audit planning and risk assessment, audit review and reporting.
LO2 Identify and apply appropriate audit and assurance techniques when presented with defined and undefined practical auditing, accounting and business problems.
LO3 Analyse and interpret results and outcomes within an auditing and assurance framework and make recommendations.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Additional Requisite Information
No Co Requisites listed
 
Indicative Content
Audit framework, regulation and Internal audit
The concepts of auditing, other assurance engagements and Statutory Audits, The regulatory environment, Professional ethics and conduct.Quality control in audit firms. Corporate governance, Internal Audit (differences with external audit).
Planning and Risk assessment
Objective and general principles, Assessing the Audit Risk. Understanding the entity and its environment, Materiality, fraud, laws & regulations, Analytical procedures, Planning an audit, Audit documentation.
Review and Reporting
Subsequent events, Going Concern, Written representations, Audit finalisation and the final review. Audit reports, Reports to Management.
Module Content & Assessment
Assessment Breakdown%
Continuous Assessment20.00%
End of Module Formal Examination80.00%

Assessments

Full Time

Continuous Assessment
Assessment Type Other % of Total Mark 20
Timing Week 7 Learning Outcomes 1,2,3
Non-marked No
Assessment Description
e.g. Class test/Case Study/MCQ
No Project
No Practical
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 80
Timing End-of-Semester Learning Outcomes 1,2,3
Non-marked No
Assessment Description
End-of-Semester Final Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

SETU Carlow Campus reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 4.00 4
Independent Learning Non Contact No Description Every Week 8.00 8
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 2.00 2
Independent Learning Time Non Contact No Description Every Week 8.00 8
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Martin Nolan, Christine Nangle. (2018), External Auditing and Assurance An Irish Textbook, 3rd. Chartered Accountants Ireland, [ISBN: 9781912350032].
  • Alan Millichamp,John R. Taylor. (2018), Auditing, 11th. Cengage, [ISBN: 9781473749306].
  • Kaplan Publishing. ACCA Audit and Assurance (AA) Study Text, Latest. Kaplan Publishing.
  • BPP Learning Media. ACCA Study Text: Applied Skills Audit and Assurance (International), Latest Edition. BPP Learning Media.
Supplementary Book Resources
  • Iain Gray, Stuart Manson, Louise Crawford. (2019), The Audit Process, 7th. Cengage, [ISBN: 9781473760189].
This module does not have any article/paper resources
Other Resources
Discussion Note: