Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit convenor & lecturer
Mark Abraham
Contact via email
room 223 Building 4ER
Mondays 16:00 - 17:00
Moderator
Dominic Soh
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
ACCG925
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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 best practice in the audit and assurance of an organisation’s financial information. Focusing on the legal and regulatory environment, including money laundering, professional and ethical considerations, a Code of Ethics and professional liability will be discussed. Practice management, including quality control, the acceptance and retention of professional engagements, the audit of financial statements, including planning, evidence and review are integral parts of the audit and assurance task and will be examined in this unit. The unit also considers other audit and assurance tasks, including the quality of projected financial information and the reporting of that information. Most importantly, students will consider current issues and developments relating to the provision of audit related and assurance services.
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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:
Name | Weighting | Hurdle | Due |
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Assessed coursework | 10% | No | Throughout |
Class test 1 | 15% | No | 12 September 2019 |
Class test 2 | 20% | No | 24 October 2019 |
Final Exam | 55% | No | To be advised |
Due: Throughout
Weighting: 10%
Homework exercises form a critical part in the study process, as they serve to reinforce concepts that are covered in lectures or online. Students often failed a unit when they had not followed a consistently disciplined approach over the session. To this end, students will be required to attend seminars with their homework. The lecturer will check that these are satisfactorily attempted.
The lecturer will collect homework or seminar exercises on five (5) random occasions, without prior notice.
Collected exercises will be worth 10%, with each submission counting for 2%.
Type of Collaboration: Individual Submission: Written homework is to be submitted online prior to the beginning of a class. Submission of seminar exercises will be at the end of the class. Late Submission:Extensions and penalties
No extensions will be granted. Students who do not make a homework submission will receive a zero mark except for cases in which an application for Special Consideration is made and approved. Penalties apply to submission of non original work or work that bears close resemblance to response guides from the textbook publisher.
Criteria and standards
Marks will be given on the basis of original effort and are awarded for evidence that corrections are made.
Due: 12 September 2019
Weighting: 15%
Extensions and penalties
No extensions will be granted. Students who do not sit the class test will be awarded a mark of zero for the task except for cases in which an application for Special Consideration is made and approved. A supplementary test will be held at a later date. Students are advised that once a determination is made on their application for Special Consideration, they may not withdraw their application and must submit themselves to partake in the supplementary test.
As per the Special Consideration Procedure, students are also advised that the time and date deadline or format of the supplementary test as a result of a Special Consideration application is not negotiable and students must make themselves available to take the supplementary test. Failure to meet this requirement will result in a zero mark being awarded. No further supplementary test will be provided.
Criteria and standards
Marks will be given on the appropriate application of knowledge and skills to short answer and case based questions.
Due: 24 October 2019
Weighting: 20%
Submission of the written test is to be made to the lecturer at the end of the test.
Length: 90 minutes Late Submission:Extensions and penalties
No extensions will be granted. Students who do not sit the class test will be awarded a mark of zero for the task except for cases in which an application for Special Consideration is made and approved. A supplementary test will be held at a later date. Students are advised that once a determination is made on their application for Special Consideration, they may not withdraw their application and must submit themselves to partake in the supplementary test.
As per the Special Consideration Procedure, students are also advised that the time and date deadline or format of the supplementary test as a result of a Special Consideration application is not negotiable and students must make themselves available to take the supplementary test. Failure to meet this requirement will result in a zero mark being awarded. No further supplementary test will be provided.
Criteria and standards
Marks will be given on the appropriate application of knowledge and skills to short answer and case based questions.
Due: To be advised
Weighting: 55%
The only exception to sitting an examination at the designated time is because of documented illness or unavoidable disruption. In these circumstances you may wish to consider applying for Special Consideration. The University’s Special Consideration Policy is available at
https://students.mq.edu.au/study/my-study-program/special-consideration
Required Text: |
Required Text Book You are required to purchase both the Approved Workbook and the Practice and Revision Kit for Advanced Audit and Assurance - International, both published by BPP Learning Media. |
Unit Web Page: |
Access to iLearn |
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Topic |
Material |
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Week 1 - August 1 |
Regulatory enbvironment Code of ethics |
Workbook Practice & revision kit |
Week 2 - August 8 |
Professional liability Quality control |
Workbook Practice & revision kit |
Week 3 - August 15 |
Obtaining and accepting appointments Planning and risk assessment |
Workbook Practice & revision kit |
Week 4 - August 22 |
Planning and risk assessment continued Evidence |
Workbook Practice & revision kit |
Week 5 - August 29 |
Review the application of financial reporting standards |
Workbook Practice & revision kit |
Week 6 - September 5 |
Group and transnational audits |
Workbook Practice & revision kit |
Week 7 - September 12 |
In-class test 1 Completion |
Workbook Practice & revision kit |
September 19 |
Break |
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September 26 |
Break |
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Week 8 - October 3 |
Completion continued Reporting |
Workbook Practice & revision kit |
Week 9 - October 10 |
Audit related & other assurance services Prospective financial information |
Workbook Practice & revision kit |
Week 10 - October 17 |
Forensic audits Social, environmental and public sector auditing |
Workbook Practice & revision kit |
Week 11 - October 24 |
In-class test 2 Current issues |
Workbook Practice & revision kit |
Week 12 - October 31 |
Revision |
Workbook Practice & revision kit |
Week 13 - November 7 |
Revision |
Workbook Practice & revision kit |
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:
Undergraduate 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).
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 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
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
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
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.
Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.
This graduate capability is supported by:
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
This unit addresses global and sustainability issues and the relevant implications arising from the materials, assessment, academic discussion and debate in classes/seminars.Throughout the unit additional references and materials are provided to facilitate research.