Students
ACCG8145 – Advanced Audit and Assurance
2024 – Session 2, In person-scheduled-weekday, North Ryde
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor and Lecturer
Jessica Zhang
Moderator
Dale Tweedie
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
ACCG925 or ACCG8125
|
| 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.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Homework Submissions | 10% | No | Throughout the semester |
| Class Test 1 | 10% | No | 23 August 2024 |
| Research Assignment | 10% | No | 1 September 2024 |
| Class Test 2 | 30% | No | 26 September 2024 |
| Final Examination | 40% | No | Exam Period |
Homework Submissions
Assessment Type 1: Practice-based task
Indicative Time on Task 2: 20 hours
Due: Throughout the semester
Weighting: 10%
Students are required to prepare homework questions for each topic which are submitted online.
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.
Class Test 1
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: 23 August 2024
Weighting: 10%
An online class test will be conducted during class time.
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 difficulty.
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:
- 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.
Research Assignment
Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 20 hours
Due: 1 September 2024
Weighting: 10%
The aim of the assignment is to allow students to demonstrate their ability to apply and integrate skills learnt 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:
- 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.
Class Test 2
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: 26 September 2024
Weighting: 30%
An online class test will be conducted during class time.
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 difficulty.
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:
- 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.
Final Examination
Assessment Type 1: Examination
Indicative Time on Task 2: 20 hours
Due: Exam Period
Weighting: 40%
An online computer exam, mirroring the ACCA exam conditions and length will be conducted on-campus during class time.
This exam is designed to provide feedback to students on their level of understanding of key topics and concepts covered and to identify any particular learning challenges or areas of difficulty.
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.
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
Unit delivery
Students are required to attend a weekly 3-hour seminar (commencing in Week 1). There are also learning resources that students are required to engage with to complement the weekly seminar.
Seminars will be held in an interactive format designed to facilitate further students' understanding and ability to apply concepts covered in learning resources to practical cases. Students will be expected to attend seminars prepared and willing to participate in exercises.
The timetable for classes can be found on the University website at: http://www.timetables.mq.edu.au/
Required texts and/or materials
Students are required to purchase two texts published by BPP Learning Media:
- ACCA Advanced Audit and Assurance (International) (AAA - INT) Workbook
- ACCA Advanced Audit and Assurance (International) (AAA - INT) Practice & Revision Kit
Students are also expected to read relevant standards and guidance, which are available online at https://www.iaasb.org/, https://www.ethicsboard.org/ and https://www.ifrs.org/issued-standards/list-of-standards/.
Additional readings and resources will be available on the unit iLearn site as required.
Technology Used and Required
Students will need access to a personal computer and the internet to attend class and to review and complete learning activities and resources, including assessment details and notices from the ACCG8145 iLearn site, as well as to complete and make submissions for the assessment tasks in this Unit.
Further information on technology requirements will be 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?
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 proactive approach to address any deficiencies in their understanding of the course material through independent research, inquiry, and consultations with peers and instructors as appropriate.
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 connect.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 the Service Connect Portal, 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.
Changes since First Published
| Date | Description |
|---|---|
| 22/07/2024 | This unit is now co-teached with ACCG8125. |
Unit information based on version 2024.02 of the Handbook