auditing . its the group assignment I need the first 3 tasks to be done . the case is ‘KAUPTHING BANK ICELAND’ has to be 600 words in total
acct300_auditing_and_assurance_201660.pdf
Unformatted Attachment Preview
FACULTY OF BUSINESS
PETER FABER BUSINESS SCHOOL
SEMESTER 2 2016
ACCT300: Auditing and Assurance Services
UNIT OUTLINE
Credit points: 10
Prerequisites / incompatibles: ACCT100 Principles of Accounting and
ACCT207 Financial Accounting: Accounting Standards and Frameworks
It is your responsibility as a student to ensure that you have completed the
prerequisites for a particular unit. You may not enrol in this unit if you have
previously passed, or are currently enrolled in, any unit identified as incompatible
with this unit. If you do not meet these requirements, then you must see your Course
Coordinator.
Teaching team:
IN THE FIRST INSTANCE ALL ENQUIRIES SHOULD BE REFERRED TO YOUR
CAMPUS LECTURER
Brisbane Campus
Lecturer’s name: Mr Prasada Vajjhala (Campus lecturer*)
Office location: Level 3, TC.12, Building T, Banyo
Telephone: 7447
Email. Prasada.vajjhala@acu.edu.au
Contact me: Via email:
Consultation time: Friday 8.00-9.00 am
Melbourne Campus **
Lecturer’s name: Dr Bulend Terzioglu (Campus lecturer* and NLIC**)
Office location: Level 7, 250 Victoria Parade
Email: bulend.terzioglu@acu.edu.au
Telephone: 99533829
Contact me: Via email
Consultation time: Thursday 12.00-13.00
Page | 1
Strathfield Campus
Lecturer’s name: Dr Waleed Abdel-Qader (Campus lecturer*)
Office location: Level 10, 8-20 Napier Street, North Sydney
Telephone: 97392307
Contact me: Via email: waleed.abdel-qader@acu.edu.au
Consultation time:TBA
*Campus Lecturer
Will answer enquiries relating to what is happening in lectures or tutorials, e.g. who is
my group, what chapter are we reading?
**National Lecturer-In-Charge (NLCI)
Will answer enquiries relating to administrative and process issues, e.g. assignment
extensions, special considerations and other such items that need forms and
evidence (excluding deferred exam applications).
All queries should initially be directed to the campus lecturer. The campus
lecturer will consult with the NLIC if necessary.
Description:
Auditing and assurance services provide credence to published financial statements,
and therefore are one of the major activities of the accounting profession. This unit
introduces students to the concepts and practice of auditing, the way the profession
has developed and how it addresses current business and social needs. Particular
emphasis is placed on an appreciation of ethical standards and corporate
governance issues in auditing, and the role auditors play in developing and
reinforcing sound governance practices and processes
Mode/attendance pattern: Weekly Lectures and Tutorials
Instruction for this unit comprise of one two-hour lecture and one two-hour tutorial
each week for twelve weeks. Tutorials start in week1. You should anticipate
undertaking 150 hours of study for this unit, including class attendance, readings and
assignment preparation.
Duration: 12- week semester
Page | 2
LEARNING OUTCOMES
On successful completion of this unit, you should be able to:
1. Demonstrate an understanding of ethical issues encountered by auditors and
describe the role of auditors in enhancing common good. (GA3, GA4)
2. Describe the procedures to appraise clients, evaluate evidence, do a risk
analysis, do a materiality assessment and investigate fraud and possible reasons
that outlie irregularities in reporting.
3. Explain how to assess the effectiveness of internal controls (GA5)
4. Determine appropriateness of different types of audit reports (GA5, GA8)
5. Identify auditor’s responsibilities relative to subsequent events, and recommend,
and justify the appropriate auditing treatment. (GA5, GA8)
GRADUATE ATTRIBUTES
Each unit in your course contributes in some way to the development of the ACU
Graduate Attributes which you should demonstrate by the time you complete your
course. You can view the ACU Graduate Attributes for all courses at
http://www.acu.edu.au/204356. All Australian universities have their expected
Graduate Attributes – ACU’s Graduate Attributes have a greater emphasis on ethical
behaviour and community responsibility than those of many other universities. All of
your units will enable you to develop some attributes.
On successful completion of this unit, you should have developed your ability to:
GA3 apply ethical perspectives in informed decision making
GA4 think critically and reflectively
GA5 demonstrate values, knowledge, skills and attitudes appropriate to the discipline
and/or profession
GA8 locate, organise, analyse, synthesise and evaluate information
Page | 3
CONTENT
Topics will include:
•
•
•
•
•
•
•
•
•
•
•
•
The auditing and assurance services profession
Ethics, independence and corporate governance
The legal liability of auditors
Planning and risk
Overview of elements of the financial report audit process
Assessing inherent risk, other business risk and materiality
Understanding the internal control structure and assessing control risk
Procedures for collecting evidence
Tests of transactions
Tests of balances and audit sampling
Completion, review and communication
The auditor’s reporting obligations
QUALITY ASSURANCE AND STUDENT FEEDBACK
This unit has been evaluated through the ‘Student Evaluation of Unit’ (SEU) online
surveys. SEU surveys are usually conducted at the end of the teaching period. Your
practical and constructive feedback is valuable to improve the quality of the unit.
Please ensure you complete the SEU survey for the unit. You can also provide
feedback at other times to the unit lecturers, course coordinators and/or through
student representatives.
SCHEDULE
The schedule below lists the topics and when they will be discussed in class. It is
important that students read the appropriate material and prepare the tutorial work
before they attend the relevant class.
Page | 4
SCHEDULE
Week
W/c
Readings / Activities
Jubb et al. (2012)
Ch1
1 Aug 2016
Lecture Topic
Demand for audit and assurance services
8 Aug 2016
15 Aug 2016
Auditors’ legal environment
Audit quality and ethics
Audit planning and documentation
22 Aug 2016
Audit evidence
29 Aug 2016
Materiality & risk
5 Sept 2016
Internal control and control risk
12 Sept 2016
Fraud auditing
Ch9
19 Sept 2016
Audit of the sales and collection cycle
Ch12
1
2
Ch2
Ch3
Ch4
3
4
5
6
Ch5
Group presentations 1
Ch7
Group Presentations 1
Ch8
Group Presentations 1
7
8
26 Sept 2016 VACATION WEEK
9
3 Oct 2016
10 Oct 2016
Audit of transaction cycles and financial
balance statements I and II
Completing the audit
17 Oct 2016
Audit reporting
24 Oct 2016
Wrap-up and review
10
11
12
Ch15 & Ch16
Group Presentations 2
Ch17
Group Presentations 2
Ch18
Group Presentations 2
ASSESSMENT
In order to pass this unit, you are required to achieve an overall mark of at least 50
per cent and attempt all pieces of assessment. There is hurdle requirement in this
unit, to pass this unit; students are required to obtain a mark of at least 40% in the
final examination.
The assessment tasks for this unit are designed for you to demonstrate your
achievement of each learning outcome. (Note that from 2016, it is University policy to
have a maximum of 3 assessment tasks for a 10 credit point unit. Hurdle tasks are
not included in the limit of three assessment tasks as they do not count towards the
final grade.)
Page | 5
ASSESSMENT PROCEDURES
A range of assessment procedures will be used to meet the unit learning outcomes
and develop graduate attributes consistent with University assessment requirements.
Such procedures may include, but are not limited to: essays, reports, examinations,
student presentations or case studies.
OVERVIEW OF ASSESSMENTS:
Brief Description
of Assessment
Tasks.
Individual
assignment
Due Date
Weighting
(%)
20%
Learning
Outcome/s
Assessed
1
Graduate
Attributes
Assessed
GA3, GA4,
GA8
31 August 2016 23.00
Group
assignment
3 October 2016 23.00
30%
1,2
GA4, GA5,
GA8
Final
examination
Check the University
examination timetable
(7-27 Nov 2016)
50%
2,3,4,5
GA3, GA4,
GA5, GA8
ASSESSMENT 1: INDIVIDUAL ASSIGNMENT
The assignment is available in Appendix 1 of this unit outline.
Due date
Weighting
Length and format
Purpose
Learning outcomes
assessed
How to submit
Return of assignment
Assessment criteria
Page | 6
31 August 2016 by 23.00 hours
20%
1,000 words ±10%
To test students’ understanding of ethics and common
good in the auditing profession
1
Via LEO/ Turnitin ONLY
Two weeks on Turnitin. Students will be awarded a
grade (not a mark).
Assessment rubric is provided in Appendix 1
ASSESSMENT 2: GROUP ASSIGNMENT
The assignment is available in Appendix 2 of this unit outline.
Due date
Weighting
Length and format
Purpose
Learning outcomes
assessed
How to submit
Return of assignment
Assessment criteria
Page | 7
3 October 2016 by 23.00 hours
30%
3,000 words ±10%
Test students’ ability to apply audit theory and audit
standards to practical situations and promote collaborative
completion of tasks and professional presentation of
findings.
1, 2
Via LEO/Turnitin ONLY
Two weeks on Turnitin. Students will be awarded a grade
(not a mark).
Detailed grading rubric is provided in Appendix 2
ASSESSMENT 3: FINAL EXAMINATION
Due date
Weighting
Duration
Type
Purpose
Learning outcomes
assessed
During the examination period (7-27 November 2016). For
date, time and location of the exam, students should check the
Examination timetable
50%
Two hours with 10 minutes reading time
Closed book
The purpose of the final exam is to test whether you have
achieved the learning outcomes 2-5 of the course. The exam
will be of two hours duration with ten minutes of reading time.
The exam is closed book.
2,3,4,5
REFERENCING
This unit requires you to use the Harvard referencing system. See the ‘Academic
referencing’ page from the Office of Student Success for more details.
ACU POLICIES AND REGULATIONS
It is your responsibility to read and familiarise yourself with ACU policies and
regulations, including regulations on examinations; review and appeals; acceptable
use of IT facilities; and conduct and responsibilities. These are in the ACU
Handbook, available from the website.
The Unit Outline Resources page (http://students.acu.edu.au/241467) contains
several important links as a starting point.
Assessment Policy and Procedures
You must read the Assessment Policy and Assessment Procedures in the University
Handbook: they include rules on deadlines; penalties for late submission;
extensions; and special consideration. If you have any queries on Assessment
Policy, please see your Lecturer in Charge.
Academic integrity
You have the responsibility to submit only work which is your own, or which properly
acknowledges the thoughts, ideas, findings and/or work of others. The Framework
for Academic Integrity and the Academic Honesty Policy are available from the
website. Please read them, and note in particular that plagiarism, collusion and
recycling of assignments are not acceptable. Penalties for academic dishonesty can
vary in severity, and can include being excluded from the course.
Page | 8
Turnitin
The ‘Turnitin’ application (a text-matching tool) will be used in this unit, in order to
enable:
•
•
students to improve their academic writing by identifying possible areas of
poor citation and referencing in their written work; and
teaching staff to identify areas of possible plagiarism in students’ written work.
While Turnitin can help in identifying problems with plagiarism, avoiding plagiarism is
more important. Information on avoiding plagiarism is available from the Academic
Skills Unit. For any assignment that has been created to allow submission through
Turnitin (check the Assignment submission details for each assessment task), you
should submit your draft well in advance of the due date (ideally, several days
before) to ensure that you have time to work on any issues identified by Turnitin. On
the assignment due date, lecturers will have access to your final submission and the
Turnitin Originality Report.
STUDENT SUPPORT
If you are experiencing difficulties with learning, life issues or pastoral/spiritual
concerns, or have a disability/medical condition which may impact on your studies,
you are advised to notify your Lecturer in Charge, Course Coordinator and/or one of
the services listed below as soon as possible. For all aspects of support please
contact the Office of Student Success.
Academic Skills offers a variety of services, including workshops (on topics such as
assignment writing, time management, reading strategies, referencing), drop-in
sessions, group appointments and individual consultations. It has a 24-hour online
booking system for individual or group consultations.
Campus Ministry offers pastoral care, spiritual leadership and opportunities for you
to be involved with community projects.
The Career Development Service can assist you with finding employment,
preparing a resume and employment application and preparing for interviews.
The Counselling Service is a free, voluntary, confidential and non-judgmental
service open to all students and staffed by qualified social workers or registered
psychologists.
Disability Services can assist you if you need educational adjustments because of
a disability or chronic medical condition; please contact them as early as possible.
Indigenous Units on each campus provide information and support for students.
The Unit Outline Resources web page (http://students.acu.edu.au/241467) provides
links for each service.
Page | 9
ONLINE RESOURCES AND TECHNOLOGY REQUIREMENTS
The LEO page for this unit contains further readings/ discussion forums.
TEXTS AND REFERENCES:
Prescribed text
Arens, A.A., Best, P., Shailer, G., Fiedler, B., Elder, R. J. & Beasley, M 2013,
Auditing, Assurance Services in Australia: An Integrated Approach, 9th edn, Pearson
Education, Sydney, NSW.
Recommended references
Auditing, Assurance and Ethics Handbook 2016 Australia, CAANZ, Sydney, NSW.
Beasley, MS, Buckless, FA. Glover, SM & Prawitt, DF. 2014, Auditing
Cases: An Interactive Learning Approach, 6th edn, Pearson.
Gay, G. & Simnett, R 2015, Auditing and Assurance Services in Australia, 6th edn,
McGraw-Hill Australia.
Jubb, C., Rittenberg, L.E., Johnstone, K.M. and Gramling, A 2012, Auditing and
Assurance: A Business Risk Approach, 3rd edn, Cengage Learning, Sydney, NSW.
Leung, P, Coram, P, Cooper, B & Richardson, P 2015, Modern Auditing and
Assurance Services, 6th edn, John Wiley & Sons Australia.
Martinov-Bennie, N, Roebuck, P & Soh, D 2014, Auditing and Assurance – A Case
Studies Approach, 6th edn, Lexis Nexis.
Messier, WF, Glover, SM & Prawitt, DE 2016, Auditing and Assurance
Services: A Systematic Approach, 10th edn, McGraw-Hill, Irwin.
Moroney, R., Campbell, F. & Hamilton, J 2013, Auditing: A Practical Approach, 2nd
edn, John Wiley & Sons Australia, Sydney, NSW.
Thibodeau, J. & Freier, D 2013, Auditing and Accounting Cases: Investigating Issues
of Fraud and Professional Ethics, McGraw-Hill.
RELEVANT ACADEMIC JOURNALS
Accounting, Auditing and Accountability Journal
Accounting and Finance
Accounting Horizons
Accounting, Organizations and Society
Auditing: A Journal of Practice & Theory
Australian Accounting Review
Internal Auditing
International Journal of Auditing
Page | 10
Journal of Auditing and Finance
Journal of International Accounting, Auditing and Taxation
Managerial Auditing Journal
RELEVANT PROFESSIONAL ASSOCIATIONS
Australian Financial Markets Association (AFMA)
The International Auditing and Assurances Standards Board (IAASB)
The Institute of Business and Professional Ethics (IBPE)
The Institute of Internal Auditors Australia (IIAA)
RELATED BUSINESS MAGAZINES AND NEWSPAPERS (AUSTRALASIA)
In the Black (published by CPA Australia)
Charter (published by the Institute of Chartered Accountants Australia and New
Zealand)
The Australian Financial Review
Business Review Weekly (BRW)
Financial Times
Asia Times
Far Eastern Economic Review
Hong Kong Business
The Straits Times
The Wall Street Journal Asia
USEFUL WEBSITES
Auditing and Assurance Standards Board (AUASB) http://www.auasb.gov.au/
Australian Accounting Standards Board (AASB) http://www.aasb.com.au/
Australian National Audit Office (ANAO) http://anao.gov.au
Australian Securities and Investment Commission (ASIC) http://asic.gov.au
Australasian Legal Information Institute (ALII) http://austlii.edu.au
CPA Australia http://www.cpaaustralia.com.au
Chartered Accountants Australia and New Zealand http://www.caanz.org.au
Academic Dishonesty
The University has a detailed policy academic dishonesty. Students are advised to
read
it
at:
http://www.acu.edu.au/__data/assets/pdf_file/0016/103741/Academic_Honesty.pdf I
n particular, there are severe penalties for instances of academic dishonesty
including plagiarism. Students are advised that any materials submitted for
assessment may be subjected to electronic checking for originality. The software
used for checking originality compares works submitted by students with published
material from a variety of sources, including the Internet. Students must provide a
hard copy version of each assessment to the School Office and submit an identical
electronic copy to the relevant Lecturer via “LEO”/”email” as appropriate for your unit.
Page | 11
OTHER UNIT INFORMATION:
It is your responsibility as a student to ensure that you have the prerequisites or corequisites for a particular unit. You may not enrol in this unit if you have previously
passed, or are currently enrolled in, any unit identified as incompatible with this unit.
If you do not meet these requirements, then you must see your Course Coordinator.
You should also become very familiar with the Student Tutorials in the Learning
Management System (LEO, Learning Environment Online), since almost all ACU
units now utilise Online Learning.
POLICIES, RESOURCES AND SUPPORT
Unit Outline Resources
It is the responsibility of all students to access, read and familiarise themselves with
the following ACU Policies and Regulations. These are to be found in the ACU
Handbook, which is readily available on the Internet. The Academic Honesty Policy
is very important and you must understand that plagiarism, collusion and recycling of
assignments are not acceptable. You must read the Assessment Policy and
Procedures. If you have any queries please see your Lecturer, Tutor or Course
Coordinator.
Policies and Procedures
This area includes the Academic Honesty Policy (including information on
plagiarism); Academic Regulations and Policies – see especially Assessment
(attendance, extension for an assignment, factors affecting performance completion
of assessment tasks, group work and collaborative assessment, personal
circumstances affecting assessment, submission, collection and retention of
assessment tasks, resubmission of assessment tasks); Examinations (including
deferred exams); Review and appeals; Acceptable use of IT facilities; Conduct and
responsibilities; Graduate Attributes.
Resources
This area includes the ACU Handbook, the Online Learning (LEO) Login (Learning
Management System); Online Learning Assistance and Online Learning Tutorials
and guidance.
Support
If you are experiencing difficulties with learning, life issues or pastoral/spiritual
concerns, or have a disability/medical condition which may impact on your studies,
you are advised to notify your Lecturer, Tutor or Course Coordinator and/or contact
the Office of Student Success or visit the Student Life website for one of the
services listed below as soon as possible. The support areas include:
Academic Skills Unit which offers a variety of services, including
workshops (on topics such as assignment writing, time management,
reading strategies, referencing), drop-in sessions, group appointments and
individual consultations. It has a 24-hour online booking system for
individual or group consultations. The website also describes the Harvard
referencing style that must be used in preparing all assig …
Purchase answer to see full
attachment
Recent Comments