Students
ACCG8145 – Advanced Audit and Assurance
2020 – Session 2, Special circumstance
Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group learning activities on campus for the second half-year, while keeping an online version available for those students unable to return or those who choose to continue their studies online.
To check the availability of face to face activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Moderator
Dominic Soh
Dominic Canestrari-Soh
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
ACCG925 or ACCG8125
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| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
The unit aims to evaluate the assurance engagement and other audit and assurance issues in the context of best practice and current developments. It covers the legal and regulatory environment and professional and ethical considerations, including professional liability, procedures in practice management, together with quality control and the acceptance and retention of professional engagements. The unit also covers the process of auditing of financial statements, including prospective financial information, due diligence and forensic audit. The current issues and developments as they relate to the provision of audit-related and assurance services are also covered. |
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: Recognise the legal and regulatory environment and its effect on audit and assurance practices.
- ULO2: Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.
- ULO3: Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments.
- ULO4: Identify and formulate the work required to meet the objectives of audit and non-audit assignments and draft suitable reports on assignments.
- ULO5: Evaluate findings and the results of work performed by critically applying the International Standards on Auditing.
- ULO6: Apply the current issues and developments relating to the provision of audit and assurance related services.
General Assessment Information
All applicable text based assessments must be submitted through Turnitin. 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.
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 | Hurdle | Due |
|---|---|---|---|
| Take Home Test 2 | 25% | No | 19 October |
| Final Examination | 55% | No | examination period |
| Take Home Test 1 | 20% | No | 7 September |
Take Home Test 2
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 30 hours
Due: 19 October
Weighting: 25%
In the second half of the session, a take-home test will be conducted. The test comprises medium and long form questions that may include numeric tasks.
On successful completion you will be able to:
- Recognise the legal and regulatory environment and its effect on audit and assurance practices.
- Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.
- Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments.
- Identify and formulate the work required to meet the objectives of audit and non-audit assignments and draft suitable reports on assignments.
- Evaluate findings and the results of work performed by critically applying the International Standards on Auditing.
Final Examination
Assessment Type 1: Examination
Indicative Time on Task 2: 40 hours
Due: examination period
Weighting: 55%
A two-hour online final examination for this unit will be held. The exam is a summative assessment designed to demonstrate knowledge and understanding attained during the session and may cover any of the topics taught. The exam questions and form will adopt the structure, form and substance of the equivalent ACCA professional exam.
On successful completion you will be able to:
- Recognise the legal and regulatory environment and its effect on audit and assurance practices.
- Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.
- Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments.
- Identify and formulate the work required to meet the objectives of audit and non-audit assignments and draft suitable reports on assignments.
- Evaluate findings and the results of work performed by critically applying the International Standards on Auditing.
- Apply the current issues and developments relating to the provision of audit and assurance related services.
Take Home Test 1
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 25 hours
Due: 7 September
Weighting: 20%
In the first half of the session, a take-home test will be conducted. The test comprises medium and long form questions that may include numeric tasks.
On successful completion you will be able to:
- Recognise the legal and regulatory environment and its effect on audit and assurance practices.
- Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.
- Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments.
- Identify and formulate the work required to meet the objectives of audit and non-audit assignments and draft suitable reports on assignments.
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
Students are required to attend 13 X 3 hour seminars on-line. Each seminar comprises a 2 hour lecture plus 1 hour for revision of exercises and course work.
Required Text Books
Students are required to purchase two texts published by BPP Learning Media:
- ACCA Advanced Audit and Assurance (International) Workbook ISBN 9781509782949 published 02/2020
- ACCA Advanced Audit and Assurance (International) Practice and Revision Kit ISBN 9781509783991 published 03/2020
Unit Schedule
|
Wk 1 |
Ch. 1 Regulatory environment & Ch. 2 Code of ethics and conduct |
|
Wk 2 |
Ch.3 Professional responsibilities and liability & Ch.4 Quality control |
|
Wk 3 |
Ch. 5 Accepting professional appointments & Ch.6 Planning and risk assessment |
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Wk 4 |
Ch. 6 Planning continued & Ch. 7 Evidence |
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Wk 5 |
Ch. 8 Evaluation and review - financial reporting revision |
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Wk 6 |
Ch.9 Group audits and transnational audits & Ch. 10 Completion |
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Wk 7 |
On-line (open book) timed test 1 |
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Wk 8 |
Ch.10 Completion continued & Ch. 11 Reporting |
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Wk 9 |
Ch. 12 Other assurance services & Ch. 13 Prospective financial information |
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Wk 10 |
Ch. 14 Forensic audits & Ch. 15 Social, environmental and public sector audits & Ch. 16 Current Issues |
| Wk 11 |
On-line (open book) timed test 2 |
| Wk 12 |
Revision and additional practice questions |
| Wk 13 |
Revision and additional practice questions |
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). 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
- Grade Appeal Policy
- Complaint Management Procedure for Students and Members of the Public
- Special Consideration Policy (Note: The Special Consideration Policy is effective from 4 December 2017 and replaces the Disruption to Studies Policy.)
Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/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/study/getting-started/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
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 help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
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
If you are a Global MBA student contact globalmba.support@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.