Unit convenor and teaching staff |
Unit convenor and teaching staff
Jessica Zhang
Cissy Zhan
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
130cp at 1000 level or above including (ACCG308 or ACCG3008) and (ACCG250 or ACCG2050)
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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 examines the theory and practice of auditing and assurance services. The unit focuses on the external audit of corporate financial reports while also considering a broader range of financial and non-financial assurance services. Students will develop a comprehensive understanding of the audit process and the professional auditing environment. Students will also be exposed to ethical requirements, corporate governance and other current issues in auditing and assurance, including data analytics. The unit is applied in nature and will require students to work through learning resources and assessment tasks based on contemporary Auditing Standards and real-world auditing case studies. |
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Submission of assessment tasks
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.
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 daisy.chen@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.
Late Assessment Submission Penalty
Unless an application for Special Consideration has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.
For any late submissions of time-sensitive tasks, such as scheduled tests, exams, performance assessments, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration
Name | Weighting | Hurdle | Due |
---|---|---|---|
Mid-session test | 20% | No | Wednesday 3 January 2024 |
Case Study | 20% | No | Wednesday 10 January 2024 |
Final Examination | 60% | No | Final Exam Period 22-26 January 2024 |
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: Wednesday 3 January 2024
Weighting: 20%
A mid-session test will be held to give students practice on a summative assessment task and to provide feedback on their progress midway through the session.
Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 25 hours
Due: Wednesday 10 January 2024
Weighting: 20%
Students will apply their knowledge of audit processes and procedures developed in the unit to a case study. Students will complete this assessment and submit their responses as part of a group and individually.
Assessment Type 1: Examination
Indicative Time on Task 2: 45 hours
Due: Final Exam Period 22-26 January 2024
Weighting: 60%
A two-hour examination will be held during the University Examination period.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Unit delivery and learning resources
Students are required to attend all the lectures and tutorials (lectures commence on Monday 11 December 2023 , tutorials commence on Wednesday13 December 2023).
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 tutorial should log onto to eStudent and enrol in a tutorial where there is a vacancy. Student enrolments must be finalised by the end of Week 1. No further changes may be made after Week 1.
Required and Recommended Texts and/or Materials
The required texts for the unit, which are available from the Booktopia bookshop are as follows:
Gay, G. and Simnett, R. (2018) Auditing and Assurance Services in Australia + Connect, 7th edition, McGraw-Hill, Sydney, Australia.
Martinov-Bennie, N., Soh, D. and Frohbus, K. (2017) Auditing and Assurance: A Case Studies Approach, 7th Edition, LexisNexis Butterworths, 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 (2020) Auditing, Assurance and Ethics Handbook 2021, John Wiley & Sons Australia Ltd, Brisbane, Australia.
Technology Used and Required
Students will need access to a personal computer and the internet to get access to learning materials, including lecture slides, assessment details and announcement from the Unit Convenor on ACCG3040 iLearn site, as well as to complete and make submissions for the assessment tasks in this Unit.
Further information on any specific technology requirements will be made available on the unit iLearn site.
The unit iLearn 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 Unit Assessment guide, available on ilearn, students are required to achieve an overall pass for the unit 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 the Unit Convenor Jessica Zhang.
Session | Topics | Date | |
1 | Introduction | Monday 11 December 2023 | |
2 |
Planning the audit Understanding the entity and risk assessment 1 Audit strategy |
Wednesday 13 December 2023 | |
3 |
Understanding the entity and risk assessment 2 Considering the risk of fraud Other risk considerations Materiality |
Thursday 14 December 2023 | |
4 |
Financial report assertions Internal controls Tests of controls 1 |
Monday 18 December 2023 | |
5 |
Tests of controls 2 Substantive tests Audit procedures in response to assessed risks |
Wednesday 20 December 2023 | |
6 |
Analytical procedures Audit evidence Audit documentation Audit sampling Using the work of others |
Thursday 21 December 2023 | |
7 |
[MID-SESSION TEST] |
Wednesday 3 January 2024 | |
8 |
IT systems: Internal controls and tests of controls |
Thursday 4 January 2024 | |
9 |
IT systems: Substantive testing E-commerce environment and audit implications Data analytics |
Monday 8 January 2024 | |
10 |
Completing the audit Subsequent events Going concern Audit reporting CASE STUDY SUBMISSION (11.55 PM Wednesday 10 January 2024) |
Wednesday 10 January 2024 | |
11 |
Professional ethics and auditor independence Auditor liability Audit quality |
Thursday 11 January 2024 | |
12 |
Corporate governance, audit committees Internal auditing Other assurance services Public sector auditing and assurance |
Monday 15 January 2023 | |
13 | Course review and revision | Wednesday 17 January 2024 |
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:
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.
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 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
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.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.
The Library provides online and face to face support to help you find and use relevant information resources.
Macquarie University offers a range of Student Support Services including:
Got a question? Ask us via AskMQ, or contact Service Connect.
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.
Unit information based on version 2023.05 of the Handbook