Students

ACCG340 – Auditing and Assurance Services

2016 – S2 Day

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor and Seminar Leader
Dominic Soh
accg340@mq.edu.au
Contact via Email
E4A 324
See consultation schedule on iLearn
Teaching administrator
Claudia Chau
accg340@mq.edu.au
Contact via Email
E4A 350B
Seminar Leader
Fiona Foster
accg340@mq.edu.au
Contact via Email
Seminar Leader
Wendy Patterson
accg340@mq.edu.au
Contact via Email
Seminar Leader
May Vargas
accg340@mq.edu.au
Contact via Email
Credit points Credit points
3
Prerequisites Prerequisites
39cp including [(ACCG308 or ACCG310) and (ACCG250 or ACCG251)]
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description
This unit examines auditing and assurance and the concepts which underlie these services. The unit focuses on financial statement audits conducted under the provisions of the Corporations Act 2001, although other assurance services will also be examined within the unit. Students develop an understanding of the key aspects of an audit and judgements involved in identifying, analysing and responding to specific audit risks typically within case based scenarios. The ability to identify and gather sufficient, appropriate audit evidence and to form appropriate audit conclusions, based on the evaluation of that evidence, will also be developed. Students in this unit will develop professional judgement and decision making skills and graduate capabilities of critical, analytical and integrative thinking and problem solving. These are valuable skills beyond the specific area of auditing.

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:

  • Evaluate and contrast between external and internal audit/assurance, and between various types of audit and assurance services within the current Australian and international regulatory, professional and ethical frameworks and environment
  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions
  • Develop capacity for effective collaboration (including peer support and learning), communication and reflective practice

General Assessment Information

  Expectations and Workload  
  Activities Hours
1 Weekly Seminars 37
2 Assessment Task 1 (Assessed Coursework) 10
3 Assessment Task 2 (Class Tests) 20
4 Assessment Task 3 (Case Study) 25
5 Assessment Task 4 (Final Examination) 30
6 Readings/self-study 28
  TOTAL 150

 

Turnitin

All applicable text based assessments must be submitted through Turnitin as per instructions provided in the unit guide and unit assessment guide. It is the student’s responsibility to ensure that work is submitted correctly prior to the due date. No hard copies of assessments will be accepted and only Turnitin records will be taken as records of submission.

Multiple submissions may be possible in some units via Turnitin prior to the final due date and time of an assessment task and originality reports may be made available to students to view and check their work. All identified matching text will be reconsidered carefully. Students should note that the system will not immediately produce the similarity score on a second or subsequent submission - it takes approximately 24 hours for the report to be generated. This may be after the due date so students should plan any resubmissions carefully. Please refer to instructions on how to submit your assignment through Turnitin and access similarity reports and feedback provided by teaching staff and available here. Should you have questions about Turnitin or experience issues submitting through the system, you must inform unit staff by emailing us at accg340@mq.edu.au. If the issue is technical in nature may also lodge OneHelp Ticket, refer to the IT help page.

It is the responsibility of the student to retain a copy of any work submitted. Students must produce these documents upon request. Copies should be retained until the end of the grade appeal period each term. In the event that a student is asked to produce another copy of work submitted and is unable to do so, they may be awarded zero (0) for that particular assessment task.

Assessment Tasks

Name Weighting Due
Assessed coursework 5% Weeks 3-13
Class tests 25% Week 4 and 13 Sep 2016
Case study 30% 17 and 24 Oct 2016
Final Examination 40% University Examination Period

Assessed coursework

Due: Weeks 3-13
Weighting: 5%

Students are required to complete regular assessed coursework activities consisting of homework submissions (5%). Details on homework questions will be provided in the Weekly Seminar Guide available on iLearn. The purpose of this activity is to encourage students to actively engage with the material covered in the Unit and to provide students with timely feedback on their performance regularly throughout the session.

Criteria and standards

Homework submissions will be marked on the basis of original effort. The marking criteria to be applied to homework submissions is provided in the Unit Assessment Guide available on iLearn.

Submission

Homework submissions are to be made using Turnitin on iLearn via links available in the folder for each week that a homework submission is due. Resubmission of homework questions is allowed until the due date and time (before the start of each student's registered seminar). This will overwrite any prior submission, and only the final submission will be marked.

Extensions and Penalties

No extensions will be granted.

Students who do not make a homework submission by the due date and time will receive a mark of zero (0), except for cases in which an application for Disruption to Studies is made and approved. Hardware or Internet connection issues are not acceptable as reasons for Disruption to Studies Notifications. Students should note, in particular, that zero (0) marks will be awarded for late submission or submission of an incorrect file for homework submissions. Penalties apply to submission of non-original work or work that bears close resemblance to response guides from prior sessions or from the textbook publisher.

What is required to complete the unit satisfactorily

It is expected that students spend approximately 10 hours of study for this assessment task.
On successful completion you will be able to:
  • Evaluate and contrast between external and internal audit/assurance, and between various types of audit and assurance services within the current Australian and international regulatory, professional and ethical frameworks and environment
  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions

Class tests

Due: Week 4 and 13 Sep 2016
Weighting: 25%

This assessment task consists of 2 class tests: A 15 minute diagnostic test in Week 4 and a 55 minute mid-semester test on 13 September in Week 7. The diagnostic test and mid-semester test are worth 5% and 20% of the final assessment for this Unit respectively. The purpose of the diagnostic test is to provide students with feedback on their knowledge and application of the material using a formative assessment task early in the session. The purpose of the mid-semester test is to provide students with practice on a summative assessment task and provide feedback on their progress midway through the session.

No calculators, dictionaries, books, or other materials or aids are permitted in the diagnostic test or mid-semester test.

Criteria and standards

The tests will be marked based on the appropriate application of knowledge and skills to short answer and case based questions. Refer to the Unit Assessment Guide for standards applicable to the tests.

Submission

The diagnostic test will be held in seminars in Week 4.

The mid-semester test will be held on 13 September in Week 7. Please note that there are no seminars scheduled in Week 7. Students MUST make themselves available on 13 September between 5:00 - 7:30pm to take the mid-semester test. The mid-semester test venue will be confirmed by Week 4. These details together with seating instructions will be provided to students on iLearn closer to the date.

Extensions and Penalties

No extensions will be granted. Students who do not sit the diagnostic test or mid-semester test will be awarded a mark of zero (0) for the task, except for cases in which a Disruption to Studies Notification is made and approved. A supplementary mid-semester test will be held in Week 8. Students are advised that once a determination is made on their Disruption to Studies Notification, they may not withdraw their notification and must submit themselves to partake in the supplementary test.

As per the Disruption to Studies Procedure, students are also advised that the time and date, deadline or format of the supplementary mid-semester test as a result of a Disruption to Studies Notification is not negotiable, and students must make themselves available to take the supplementary test. Failure to meet this requirement will result in a zero (0) mark being awarded. No further supplementary test will be provided. 

What is required to complete the unit satisfactorily

Students will be expected to undertake self-study study activities in preparation for the class tests. It is expected that students spend approximately 20 hours of study for the tests. We will endeavour to mark and return tests for review and provide feedback to students in the seminar following each test. The tests are confidential documents, and test scripts may not be retained by students.
On successful completion you will be able to:
  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions

Case study

Due: 17 and 24 Oct 2016
Weighting: 30%

Students are required to complete a case study assignment worth 30% based on a real life company. The assignment will consist of three (3) parts with group (Part 1) and individual components (Parts 2 and 3). Details regarding the nature of the assignment and its requirements will be made available on iLearn early in the session.

Criteria and standards

The properties on which the assessment task is will be assessed are as follows:

  1. Application of knowledge and skills to questions relating to case study company
  2. Quality of research and appropriate application to case study company
  3. Quality of communication and presentation of assignment
  4. In-depth reasoned self-reflection with authentic connections to workplace and personal development

The Unit Assessment Guide provides standards and a grading rubric for this assessment task..

Submission

Submission of Parts 1 and 2 must be made to Turnitin on iLearn by 5pm on Monday 17 October 2016. Self and peer assessment forms for the group case study assignment are to be completed individually and submitted in person in seminars in Week 10.

Submission of Part 3 must be made to Turnitin on iLearn by 5pm on Monday 24 October 2016.  

Detailed submission instructions will be provided in the case study assignment brief that will be made available on iLearn early in the session. Guidance on how to submit a Turnitin assignment may be accessed from http://mq.edu.au/iLearn/student_info/assignments.htm#turnitin.

Extensions and Penalties

No extensions will be granted.

There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission - 20% penalty). This penalty does not apply for cases in which a Disruption to Studies Notification is made and approved.

There will be a deduction of 25% of the total available marks made from the total awarded mark for the group component (Part 1) of the case study assignment for students who fail to form a group. It is the individual student’s responsibility to ensure that they are in a group early in the session. Further instructions on group formation will be provided in a seminar early in the session.

Without exception, any evidence of plagiarism discovered in submitted assignments will result in a detailed investigation and may result in a fail grade in the unit and exclusion from the University.

What is required to complete the unit satisfactorily

Students are expected to undertake independent and collaborative research, study and discussion for the case study. It is expected that students spend approximately 25 hours in completing this assessment task. The case study assignment will be marked and returned to students within approximately 3 weeks after submission.
On successful completion you will be able to:
  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions
  • Develop capacity for effective collaboration (including peer support and learning), communication and reflective practice

Final Examination

Due: University Examination Period
Weighting: 40%

A final examination is included as an assessment task for this unit to provide assurance that:

(i) learning in the unit belongs to the student; and

(ii) the student has attained the knowledge and skills tested in the exam.

The examination will cover topics across the entire course. Further information on the final exam will be provided in a seminar closer to the exam date.

Criteria and Standards

The final examination will be marked based on the appropriate application of knowledge and skills to short answer and case based questions. Refer to the Unit Assessment Guide for standards applicable to the final examination.

Final Examination conditions

A 2 hour closed-book final examination will be held during the University Examination period.

No calculators, dictionaries, books, or other materials or aids are permitted in the final examination.

Extensions and Penalties

Students who do not sit the final examination on the scheduled date and time specified in the University examination timetable will be awarded a mark of zero (0) for the final examination, except for cases in which a Disruption to Studies Notification is made and approved.

If a Supplementary Examination is granted as a result of the Disruption to Studies process the examination will be scheduled as per the Supplementary Examination timetable of the Faculty. The Supplementary Examination will be of the similar format as the final examination. 

A student may withdraw their Disruption to Studies Notification up to the point where the determination of whether it is Serious and Unavoidable has been made. After this determination, the student may not withdraw the Disruption to Studies Notification and must submit themselves to partake in the Supplementary Examination. Students are advised to familiarise themselves with the University’s Disruption to Studies Policy available at http://mq.edu.au/policy/docs/disruption_studies/policy.html. 

What is required to complete the unit satisfactorily

Students are required to achieve an overall pass for the unit and must pass the final exam to receive a passing grade in this unit. Students are expected to spend approximately 30 hours of study for the final exam.

Students who wish to obtain feedback on the final exam should refer to guidelines relating to the Grade Review process available on the web page of the Faculty of Business and Economics.
On successful completion you will be able to:
  • Evaluate and contrast between external and internal audit/assurance, and between various types of audit and assurance services within the current Australian and international regulatory, professional and ethical frameworks and environment
  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions

Delivery and Resources

Classes 

The unit requires 3 hours of face-to-face teaching per week in a 3 hour seminar. The seminar will provide a general overview of the topics and highlight key concepts and techniques for specific topics in each week, as well as facilitate further investigation and discussion of the concepts and their application in practical cases.

The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/ 

Changes to student timetables may only be made through eStudent. Students wishing to change their allocated seminar should log onto to eStudent and enrol in a seminar where there is a vacancy. Any question of an administrative nature in relation to seminar allocations should be addressed to accg340@mq.edu.au. Student enrolments must be finalised by the end of Week 1. No further changes may be made after Week 1.

Prizes

Details of prizes awarded by the Faculty of Business and Economics are available at: http://www.businessandeconomics.mq.edu.au/undergraduate_degrees/prizes_scholarships

Required and Recommended Texts and/or Materials

The required texts for the unit, which are available from the Co-op Bookshop are as follows: 

Martinov-Bennie, N., Roebuck, P. and Soh, D. (2014) Auditing and Assurance: A Case Studies Approach, Revised 6th Edition, LexisNexis Butterworths, Sydney, Australia.

Gay, G. and Simnett, R. (2015) Auditing and Assurance Services in Australia + Connect, 6th edition, McGraw-Hill, Sydney, Australia.

Additional required readings will also be made available on iLearn.

Students are also expected to read relevant standards and guidance which are available online at http://www.auasb.gov.au (ASAs, ASQC, ASRS, and AGS) and http//www.apesb.org.au (APES). These are also contained in the Chartered Accountants Australia and New Zealand Auditing Handbook that is available for purchase as follows:

Chartered Accountants Australia and New Zealand (2015) Auditing, Assurance and Ethics Handbook 2015, John Wiley & Sons Australia Ltd, Brisbane, Australia.

The following texts/resources are recommended as useful references:

Leung, P., Coram, P., Cooper, B. and Richardson, P. (2014) Modern Auditing & Assurance Services, 6th Edition, John Wiley & Sons Australia Ltd, Brisbane, Australia.

Moroney, R., Campbell, F. and Hamilton, J. (2013) Auditing: A practical approach, 2nd Edition, John Wiley & Sons Australia Ltd, Brisbane, Australia.

Arens, A., Best, P., Shailer, G., Fielder, B., Elder, R. and Beasley, M. (2013) Auditing, Assurance Services and Ethics in Australia: An Integrated Approach, 9th Edition, Pearson, Sydney, Australia.

CPA Australia (2014) Small Entities Audit Manual (SEAM), Available from: http://www.cpaaustralia.com.au/documents/seam-manual.pdf [Accessed 14 February 2016]

Technology Used and Required

Students will need access to a personal computer and the internet to obtain seminar slides, additional readings, assessment details and notices from the ACCG340 iLearn site, as well as to complete and make submissions for the assessment tasks in this Unit.

The iLearn site this unit can be found at: http://iLearn.mq.edu.au

You are strongly encouraged to regularly visit the website to check for important announcements and use it as a resource to enhance your learning experience.

What is required to complete this unit satisfactorily

In  addition to the requirements outlined in the Assessment tasks section above, students are required to achieve an overall pass for the unit and pass the final exam to achieve a passing grade in this unit, students are expected to be independent learners who assume personal responsibility for their learning and take a pro‐active approach to addressing any deficiencies in their understanding of the course material through independent research and inquiry and consultations with peers and instructors as appropriate. A detailed learning approach is provided in the Weekly Seminar Guide available on iLearn.

Unit Schedule

Wk

Topics

 Week Commencing

1

Course overview

Introduction to auditing and assurance services

 1 Aug

2

Planning the audit

Audit documentation

Materiality

 8 Aug

3

Understanding the entity and risk assessment

Considering the risk of fraud

Other risk considerations

 15 Aug

4

Financial report assertions

Internal controls

Tests of controls

DIAGNOSTIC TEST

 22 Aug

5

Audit evidence

Audit procedures in response to assessed risks

Audit strategy

 29 Aug
6

Analytical procedures

Audit sampling

Using the work of others

 5 Sep
7†

MID-SEMESTER TEST (13 September)†

  
  MID-SEMESTER BREAK  

8‡

Governance and the auditor

Audit committees

Internal auditing

 3 Oct‡

9

IT systems: Internal control

IT systems: Substantive testing

E-commerce environment and audit implications

 10 Oct

10

Auditors' legal liability

Professional ethics and auditor independence

Audit quality

 17 Oct
11

Completing the audit

Subsequent events

Going concern

Audit reporting

 24 Oct

12

Other assurance services

Public sector auditing and assurance

Current issues

 31 Oct

13

Course review and revision

 7 Nov

† There are no seminars in Week 7. Students MUST make themselves available between 5 - 7:30pm on Tuesday 13 September to take the mid-semester test. Details on the mid-semester test and test venue registration will be available on iLearn by Week 4.

‡ There are no seminars on Monday 3 October (Labour Day) in Week 8. Students registered in the Monday seminar need to attend an alternative seminar in this week. Refer to http://students.mq.edu.au/student_admin/timetables for a list of alternative seminars for the unit for this week only.

Learning and Teaching Activities

Seminars

Seminar slides will be available on the unit web page. It is the individual student’s responsibility to download and print these slides. It is expected that students will read the materials and specified references prior to attending seminars. Using the concepts and techniques covered in seminars or references, students are required to prepare full solutions to weekly assigned seminar questions before attending their allocated seminar. A separate seminar guide detailing seminar questions and activities will be made available on iLearn at the start of the semester. Suggested response guides to selected seminar questions will be placed on the unit web page at the end of each week. Students are expected to participate in discussions in seminars as it allows them to review and/or clarify the learning material, benefit from the experience and thinking of other students, tests whether their understanding is sound, assists in developing critical thinking skills, as well as develops confidence in communicating.

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html

New Assessment Policy in effect from Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy_2016.html. For more information visit http://students.mq.edu.au/events/2016/07/19/new_assessment_policy_in_place_from_session_2/

Assessment Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy.html

Grading Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/grading/policy.html

Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html

Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html​

Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.

In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/

Results

Results shown in iLearn, 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.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.

Student Services and Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

Student Enquiries

For all student enquiries, visit Student Connect at ask.mq.edu.au

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.

Graduate Capabilities

Capable of Professional and Personal Judgement and Initiative

We want our graduates to have emotional intelligence and sound interpersonal skills and to demonstrate discernment and common sense in their professional and personal judgement. They will exercise initiative as needed. They will be capable of risk assessment, and be able to handle ambiguity and complexity, enabling them to be adaptable in diverse and changing environments.

This graduate capability is supported by:

Learning outcomes

  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions
  • Develop capacity for effective collaboration (including peer support and learning), communication and reflective practice

Assessment tasks

  • Assessed coursework
  • Class tests
  • Case study
  • Final Examination

Discipline Specific Knowledge and Skills

Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.

This graduate capability is supported by:

Learning outcomes

  • Evaluate and contrast between external and internal audit/assurance, and between various types of audit and assurance services within the current Australian and international regulatory, professional and ethical frameworks and environment
  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions

Assessment tasks

  • Assessed coursework
  • Class tests
  • Case study
  • Final Examination

Critical, Analytical and Integrative Thinking

We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.

This graduate capability is supported by:

Learning outcomes

  • Analyse case based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
  • Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including tests of controls and substantive tests) in responding to specific risks in case based scenarios
  • Apply professional judgement and decision making in determining the nature, extent and timing of audit procedures, the treatment of subsequent events, and in formulating audit opinions
  • Develop capacity for effective collaboration (including peer support and learning), communication and reflective practice

Assessment tasks

  • Assessed coursework
  • Class tests
  • Case study
  • Final Examination

Changes from Previous Offering

The following changes have been introduced since the last offering of this unit:

  • Assessed coursework assessment task - reduction in weighting and removal of seminar preparation activities.
  • Case study assignment assessment task - increased weighting of individual components to align with the new assessment policy.
  • Minor changes to timing of mid-semester test and consequent changes to unit schedule.
  • Content has been updated where there have been developments in research and practice in Australia and internationally e.g. audit reporting.

Research and Practice, Global and Sustainability

This unit uses research by Macquarie University researchers:

  • Martinov-Bennie, N.,  Frost, G. and Soh,  D. (2012). "Assurance on sustainability reporting: State of play and future directions" in Contemporary Issues in Sustainability Reporting and Assurance, S. Jones and J. Ratnatunga (eds.), Emerald Group Publishing Limited, UK. 

This unit uses research from external sources:

  • Cohen, J., Krishnamoorthy, G. and Wright, A. (2004). "The Corporate Governance Mosaic and Financial Reporting Quality." Journal of Accounting Literature 23: 87-152

  • Eilifsen, A. and Messier Jr., W. F. (2013). "Materiality Guidance of the Major Auditing Firms." Auditing: A Journal or Practice & Theory, Forthcoming. Available at: http://ssrn.com/abstract=2274845. [Accessed 14 February 2016]

  • Cohen, J. R. and Simnett. R. (2014). "CSR and Assurance Services: A Research Agenda." Auditing: A Journal or Practice & Theory, Forthcoming. Available at http://ssrn.com/abstract=2463837. [Accessed 14 February 2016]

  • Glover, S. M., Prawitt, D. F. and Drake, M. S. (2014). "Between a Rock and a Hard Place: A Path Forward for Using Substantive Analytical Procedures in Auditing Large P&L Accounts: Commentary & Analysis." SSRN working paper series, available at: http://ssrn.com/abstract=2408765. [Accessed 14 February 2016]

This unit examines topical issues and developments in the auditing profession in Australia and internationally such as through the following resources:

  • International Auditing and Assurance Standards Board (IAASB) (2013). "Exposure Draft: Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs)", International Federation of Accountants (IFAC), New York. Available at: http://www.ifac.org/auditing-assurance/auditor-reporting-iaasbs-1-priority. [Accessed 14 February 2016]

This unit addresses global and sustainability issues as direct areas of study and as necessary implications arising from the materials, assessment and academic discussion and debate in classes/seminars. We promote sustainability by developing ability in students to research and locate information within accounting discipline. We aim to provide students with an opportunity to obtain skills which will benefit them throughout their career. The unit materials have a reference list at the end of each chapter/module/text containing all references cited by the author. These provide some guidance to references that could be used to research particular issues.