Auditing and Assurance

Course code ACFI3005Units 10Level 3000Faculty of Business and LawNewcastle Business School

In the absence of an independent audit, the users of financial statements would be constrained in respect of the amount of reliance that they could place on the financial statements. Consequently, the provision of an independent and professional audit opinion improves the quality and reliability of financial information presented to decision makers. The major conceptual and technical aspects of auditing are introduced, while emphasis is upon financial statement audits conducted under the Corporations Act 2001, students will also be exposed to other types of audit and assurance activities while examining the legal, ethical and societal role and responsibilities of the auditor.

Available in 2015

Callaghan CampusSemester 2
OurimbahSemester 2
UoN SingaporeTrimester 2, Trimester 3
Previously offered in 2014
ObjectivesUpon successful completion of the course it is intended you will be able to:
1. Comprehend and apply the conceptual underlying theory of auditing;
2. Interrelate the legal, ethical and societal role and responsibilities of the auditor;
3. Demonstrate a practical awareness of professional auditing techniques;
4. Recognise and appraise contemporary auditing issues.
5. Analyse, evaluate and synthesise both quantitative and qualitative information to inform auditing theory and practice.
6. Research practice and issues impacting auditing and assurance, effectively communicating knowledge and outcomes in oral
and written contexts.
ContentThis course introduces the major conceptual and technical aspects of auditing. Emphasis is placed on financial statement audits conducted under the Corporations Law. Provides insight into other types of audit and assurance activities. Emphasises the risk-based approach to auditing.
Replacing Course(s)ACFI3050
TransitionThis course is not available to students who have successfully completed ACFI3050.
Industrial Experience0
Assumed KnowledgeACFI2001
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Tutorial
Assessment Items
Essays / Written Assignments2 assignments
Examination: Formal2.5 hrs
Quiz - ClassMid semester
Contact HoursLecture: for 2 hour(s) per Week for Full Term
Tutorial: for 1 hour(s) per Week for 10 weeks
Timetables2015 Course Timetables for ACFI3005