Students
ACCG8304 – CPA - Advanced Audit and Assurance
2024 – Session 1, In person-scheduled-weekday, North Ryde
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Jessica Zhang
Haiyan Jiang
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|---|---|
| Credit points |
Credit points
10
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| Prerequisites |
Prerequisites
(ACCG907 or ACCG8307) and (ACCG908 or ACCG8308) and (ACCG913 or ACCG8313)
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| Corequisites |
Corequisites
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| Co-badged status |
Co-badged status
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| Unit description |
Unit description
This unit provides extended formal academic support to students concurrently enrolled in the Advanced Audit and Assurance unit of the CPA program. The overall objective of this unit is to provide a body of knowledge to help students understand the nature and diversity of auditing and assurance services including quality control for audit firms and the code of ethics. It presents an overview of the auditing process and examines the objectives of the audit and assurance engagements and the environment within which an auditor or assurance practitioner operates. Ethical and professional responsibilities are emphasised to help students develop professional scepticism, professional judgement and awareness of ethical values and attitudes expected of audit professionals globally. Advanced audit techniques such as eCommerce, data analytics, group audits, using other auditors, experts, and internal auditing are analysed. Government sector auditing through performance audit engagements including attestation and direct engagements are explored along with contemporary developments in assurance engagements thereby providing future practice management opportunities in the audit and assurance services performance. |
Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- ULO1: Apply the assurance framework in financial report audit, review and assurance engagements.
- ULO2: Describe the professional, legislative and regulatory requirements for audit, review and assurance engagements.
- ULO3: Analyse and evaluate the complete audit process in accordance with international auditing standards.
- ULO4: Apply relevant standards to the assessment of fraud and going concern in financial statement audits.
- ULO5: Research and interpret current issues in contemporary assurance developments, such as performance audits in the public sector, and other assurance services.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Homework Submissions | 10% | No | Throughout the semester |
| Class Test 1 | 10% | No | Friday 1 March 2024 |
| Research Assignment | 10% | No | Sunday 10 March 2024 |
| Class Test 2 | 40% | No | Tuesday 2 April 2024 |
| CPA external examination | 30% | Yes | CPA Examination Period |
Homework Submissions
Assessment Type 1: Participatory task
Indicative Time on Task 2: 20 hours
Due: Throughout the semester
Weighting: 10%
Students are required to prepare homework questions for each Module which are submitted online. The questions comprise of both a mix of multiple choice and written answer responses which will assist in reinforcing audit knowledge and content learnt in class.
On successful completion you will be able to:
- Apply the assurance framework in financial report audit, review and assurance engagements.
- Describe the professional, legislative and regulatory requirements for audit, review and assurance engagements.
- Analyse and evaluate the complete audit process in accordance with international auditing standards.
- Apply relevant standards to the assessment of fraud and going concern in financial statement audits.
- Research and interpret current issues in contemporary assurance developments, such as performance audits in the public sector, and other assurance services.
Class Test 1
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: Friday 1 March 2024
Weighting: 10%
An online class test comprising multiple choice questions will be conducted after the completion of Module 2 content. This test is designed to provide feedback to students on their level of understanding of key topics and concepts covered to date and to identify any learning challenges or areas of difficulties. Students who achieve poor results are encouraged to attend staff consultation to implement learning strategies to improve their performance.
On successful completion you will be able to:
- Apply the assurance framework in financial report audit, review and assurance engagements.
- Describe the professional, legislative and regulatory requirements for audit, review and assurance engagements.
- Analyse and evaluate the complete audit process in accordance with international auditing standards.
Research Assignment
Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 20 hours
Due: Sunday 10 March 2024
Weighting: 10%
The aim of the assignment is to allow students to demonstrate their ability to apply and integrate the skills learnt in Modules 1-3 in order to analyse a real company from the auditor’s perspective. The assignment requires research, employing publicly available information, on internal and external environments, operations, strategies and analysis of an annual report and other relevant information, including financial information.
On successful completion you will be able to:
- Apply the assurance framework in financial report audit, review and assurance engagements.
- Describe the professional, legislative and regulatory requirements for audit, review and assurance engagements.
- Analyse and evaluate the complete audit process in accordance with international auditing standards.
- Apply relevant standards to the assessment of fraud and going concern in financial statement audits.
- Research and interpret current issues in contemporary assurance developments, such as performance audits in the public sector, and other assurance services.
Class Test 2
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 60 hours
Due: Tuesday 2 April 2024
Weighting: 40%
An online class test comprising multiple-choice questions will be conducted after the completion of Module 5 content, covering all module content. This test is designed to provide feedback to students on their level of understanding of key topics and identify particular learning difficulties prior to the final CPA exam. Students who achieve poor results are encouraged to attend staff consultation to implement learning strategies to improve their performance.
On successful completion you will be able to:
- Apply the assurance framework in financial report audit, review and assurance engagements.
- Describe the professional, legislative and regulatory requirements for audit, review and assurance engagements.
- Analyse and evaluate the complete audit process in accordance with international auditing standards.
- Apply relevant standards to the assessment of fraud and going concern in financial statement audits.
- Research and interpret current issues in contemporary assurance developments, such as performance audits in the public sector, and other assurance services.
CPA external examination
Assessment Type 1: Examination
Indicative Time on Task 2: 40 hours
Due: CPA Examination Period
Weighting: 30%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
Examination administered by CPA Australia. Students need to achieve at least a PASS mark in this CPA external examination. If students do not pass this CPA examination, students will not pass this unit.
On successful completion you will be able to:
- Apply the assurance framework in financial report audit, review and assurance engagements.
- Describe the professional, legislative and regulatory requirements for audit, review and assurance engagements.
- Analyse and evaluate the complete audit process in accordance with international auditing standards.
- Apply relevant standards to the assessment of fraud and going concern in financial statement audits.
- Research and interpret current issues in contemporary assurance developments, such as performance audits in the public sector, and other assurance services.
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Please go to iLearn for details of delivery.
Unit Schedule
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ACCG8304 Schedule |
Topic/Content description |
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Week commencing 29 January |
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Week commencing 5 February |
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Week commencing 12 February |
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Week commencing 19 February |
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Week commencing 26 February |
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Friday 1 March |
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Week commencing 4 March |
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Week commencing 11 March |
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Week commencing 18 March |
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Sunday 24 March |
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Week commencing 25 March |
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Sunday 31 March |
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Week commencing 1 April |
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Wednesday 10 April – Sunday 28 April |
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Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Assessment Procedure
- Complaints Resolution Procedure for Students and Members of the Public
- Special Consideration Policy
Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct
Results
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au
Academic Integrity
At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
The Writing Centre
The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.
- Workshops
- Chat with a WriteWISE peer writing leader
- Access StudyWISE
- Upload an assignment to Studiosity
- Complete the Academic Integrity Module
The Library provides online and face to face support to help you find and use relevant information resources.
Student Services and Support
Macquarie University offers a range of Student Support Services including:
- IT Support
- Accessibility and disability support with study
- Mental health support
- Safety support to respond to bullying, harassment, sexual harassment and sexual assault
- Social support including information about finances, tenancy and legal issues
- Student Advocacy provides independent advice on MQ policies, procedures, and processes
Student Enquiries
Got a question? Ask us via AskMQ, or contact Service Connect.
IT Help
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Grading Policy
|
MQ (70%) |
CPA (30%) |
Overall (MQ Final Grade) |
Recommended Actions |
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Pass |
Pass |
Pass |
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Pass |
Fail |
Incomplete |
Re-enrol with CPA Australia ONLY |
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Pass |
FA |
Incomplete |
Re-enrol with CPA Australia ONLY |
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Fail |
Pass |
Fail |
Re-enrol with MQ ONLY |
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Fail |
Fail |
Fail |
Re-enrol with MQ and CPA Australia |
|
Fail |
FA |
FA |
Re-enrol with MQ and CPA Australia |
To be eligible to pass the unit, it is necessary to:
Gain the necessary knowledge by preparing fully and attending classes regularly and attempting ALL assessment components.
Obtain at least a PASS assessment in the CPA external examination. Note that if you do NOT pass the CPA exam, you cannot attain a pass in this Unit in this Session.
If a student passes the MQ component but fails the external CPA exam, an Incomplete grade (UL) will be given. The student must re-enrol in the failed subject with CPA Australia in the following session. If the student does not sit for the CPA exam in the following session, the UL grade will change to a Fail grade.
If a student deferred the CPA Exam in the session enrolled with MQ, the student must inform the MQBS Student Services by submitting an AskMQ inquiry so the grade can remain as UL for a session. The student will need to sit for the CPA exam in the following session and based on the CPA exam result, the grade will be finalised.
If a student has failed the same external CPA exam twice, the MQ Incomplete grade will be changed to a Fail grade, and the student will need to re- enrol with MQ and CPA Australia in the following session.
The UL grade will only be kept for one session.
Unit information based on version 2024.01R of the Handbook