Overview
In this unit, students will examine the professional environment of the auditor, particularly auditing standards and practice statements, legal liability, ethics and current developments (eg. Audit Expectation Gap). Audit methodology and planning, internal control and exposure to influences of electronic data processing (EDP) on audit testing will also be examined. The unit material, while drawing on audit theory, is very practically based for the needs of future audit professionals. Statistical and non-statistical audit sampling is also covered in detail. With an emphasis on professional and ethical practice, students will gain an appreciation of the role and needs of audit professionals in business environments.
Details
Pre-requisites or Co-requisites
Pre-requisite: ACCT11081 or ACCT19084
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2018
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Student feedback
Clarification of assessment requirements early in the term would be beneficial.
Include an "Assessment Requirements Summary" at the beginning of the term in the "General Discussion" section of Moodle and in the first workshop.
- Evaluate the environment within which the professional auditor operates
- Identify and describe the range of activities, processes and responsibilities that an auditor faces in his/her professional role
- Analyse the legal liability and ethical issues, and formulate strategies using common law and ethical decision-making frameworks
- Examine how auditing techniques and theory can influence professional auditing practices and relate these to current research
- Design an audit program using the principles of internal control and audit testing procedures.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Online Quiz(zes) - 10% | |||||
| 2 - Practical Assessment - 15% | |||||
| 3 - Practical and Written Assessment - 15% | |||||
| 4 - Examination - 60% | |||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Communication | |||||
| 2 - Problem Solving | |||||
| 3 - Critical Thinking | |||||
| 4 - Information Literacy | |||||
| 5 - Team Work | |||||
| 6 - Information Technology Competence | |||||
| 7 - Cross Cultural Competence | |||||
| 8 - Ethical practice | |||||
| 9 - Social Innovation | |||||
| 10 - Aboriginal and Torres Strait Islander Cultures | |||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Online Quiz(zes) - 10% | ||||||||||
| 2 - Practical Assessment - 15% | ||||||||||
| 3 - Practical and Written Assessment - 15% | ||||||||||
| 4 - Examination - 60% | ||||||||||
Textbooks
Auditing : A Practical Approach
Edition: 3rd (2017)
Authors: Moroney, R; Campbell, F; & Hamilton, J.
Wiley
Milton Milton , Queensland , Australia
ISBN: 9780730326496 (ebook)
Binding: eBook
Additional Textbook Information
This is a digital only version of this text. At this stage there are no paper copies of this textbook available.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Media Player
- Microsoft Office (Word, Excel and PowerPoint)
All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)
For further information, see the Assessment Tasks.
r.grose@cqu.edu.au
Module/Topic
Introduction to Audit and Assurance
Chapter
1
Events and Submissions/Topic
Module/Topic
Ethics, Legal Liability and Client Acceptance
Chapter
2
Events and Submissions/Topic
Module/Topic
Risk assessment I
Chapter
3
Events and Submissions/Topic
Module/Topic
Risk assessment II
Chapter
4
Events and Submissions/Topic
Module/Topic
Audit Evidence
Chapter
5
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Internal Controls
Chapter
6
Events and Submissions/Topic
Item 1: Online Quiz Due: Week 6 Tuesday (17 April 2018) 8.00 pm AEST
Item 1: Online Quiz Due: Week 6 Tuesday (17 Apr 2018) 8:00 pm AEST
Module/Topic
Executing Tests of Controls
Chapter
8
Events and Submissions/Topic
Module/Topic
Performing Substantive Procedures
Chapter
9
Events and Submissions/Topic
Module/Topic
Testing Balance Sheet and Income Statement Accounts
Chapter
10 & 11
Events and Submissions/Topic
Item 2: Performance Due: Week 9 Tuesday (8 May 2018) 11:45 pm AEST
Item 3: Professional Practice Due: Week 9 Tuesday (8 May 2018) 11:45 pm AEST
Item 2: Performance Due: Week 9 Tuesday (8 May 2018) 11:45 pm AEST
Item 3: Professional Practice Due: Week 9 Tuesday (8 May 2018) 11:45 pm AEST
Module/Topic
Audit Sampling
Chapter
7 and Leung 13
Events and Submissions/Topic
Module/Topic
Completing and Reporting on the Audit
Chapter
12
Events and Submissions/Topic
Module/Topic
Revision
Chapter
All
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Online Quiz(zes)
Assessment item 1 consists of an open-book online quiz available in Moodle. The quiz will consist of a range of questions such as: multiple-choice and true/false questions. You must complete this quiz individually within the time period indicated. You will not be able to re-open the quiz after this date. Therefore, it is your responsibility to complete the quiz within the specified time period.
If you experience a computer transmission problem you cannot resolve, you are required to contact the unit coordinator by email (the online system records your attempt on the quiz). The unit coordinator will contact you within 24 hours of your email. Therefore, monitor your emails closely so you can complete the quiz as instructed.
1
Week 6 Tuesday (17 Apr 2018) 8:00 pm AEST
Available from 8:00 am Sunday 15 April to 8:00 pm Tuesday 17 April 2018 only.
Week 6 Tuesday (17 Apr 2018)
Your results of the quiz will be automatically generated and will be displayed upon completion of the quiz. You can access your results again on the course website via the Gradebook. You will be able to check your quiz for incorrect answers after the quiz has closed.
This assessment item will assess your problem-solving skills in relation to the auditing concepts covered in chapters 1 to 5 inclusive.
- Evaluate the environment within which the professional auditor operates
- Identify and describe the range of activities, processes and responsibilities that an auditor faces in his/her professional role
- Problem Solving
- Ethical practice
2 Practical Assessment
Assessment Item 2 requires you to work with a team to complete the weekly workshop tasks (see workshop schedule). You are required to attend and actively participate as an effective team member during the weekly workshops (Group Space activities for distance students) for weeks 5 to 8 inclusive. You will work closely with your audit team during the workshops (Group Space for distance students) to collaboratively work towards building the permanent and current working paper files relating to the Cloud 9 audit.
This is a progressive task where you will gradually build the audit working papers for discussion and/or submission to your Audit Manager. Worksheets are provided in Moodle for each weekly activity. Your team will keep a record of each member's weekly contribution using the Team Participation and Activity Sheet provided in Moodle. Even though you will perform these tasks as part of a small audit team, you will be assessed as an individual based on your performance within the team. Marks will be awarded for active participation based on your contribution towards your team’s output for weeks 5 to 8 inclusive.
You will be expected to adequately prepare for the workshops so that you can make valuable contributions to your team’s output. There will be no marks awarded to passive students as marks are based solely on individual contributions towards the team’s completed working papers during the four-week period. Evidence of your participation will be sourced from Team Participation and Activity Sheets, Reflective Journals and observation in workshops/Group Space.
Refer to the assessment block in Moodle for further details about this assessment item.
Week 9 Tuesday (8 May 2018) 11:45 pm AEST
Submit via Moodle
Week 11 Friday (25 May 2018)
Results will be released in Moodle via the gradebook with the return of assessment item 3 marked assignments.
This assessment task is criterion-based. You will be assessed through your ability to demonstrate the skills and attributes, information literacy, team work, problem solving and ethical practice during the audit of Cloud 9 Pty Ltd. It also takes into account evaluations by your peers (Performance Bonus). Evidence of participation in the team-based assessment tasks will be gathered from the Team Participation and Activity Sheets, observation by Audit Managers, and Reflective Journal entries. The marking sheet for this team-based assessment is available in the Assessment block in Moodle.
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- Evaluate the environment within which the professional auditor operates
- Identify and describe the range of activities, processes and responsibilities that an auditor faces in his/her professional role
- Analyse the legal liability and ethical issues, and formulate strategies using common law and ethical decision-making frameworks
- Examine how auditing techniques and theory can influence professional auditing practices and relate these to current research
- Problem Solving
- Information Literacy
- Team Work
- Ethical practice
3 Practical and Written Assessment
Assessment Item 3 consists of two components which are directly linked to the requirements of Assessment Item 2. For Assessment Item 2 you are required to actively participate in small audit teams to complete various audit related tasks for the Cloud 9 audit. As such, Assessment Item 2 provides the environment for Assessment Item 3.
Assessment Item 3 requires you to individually maintain an online Reflective Journal to record your experiences as you work with your team and document the development of your graduate skills and attributes (i.e. documenting your evidence). You will then prepare and submit a two-page Performance Review Summary outlining how you achieved the graduate attributes and unit goals while working in your team during weeks 5 to 8 inclusive.
More details are provided about this assessment item in the Assessment block in Moodle. A web-page is setup as an online Reflective Journal for you to use and a template is provided for the Performance Review Summary.
Week 9 Tuesday (8 May 2018) 11:45 pm AEST
Submit via Moodle
Week 11 Friday (25 May 2018)
Return via Moodle feedback.
This assessment task is criterion-based. The overarching criterion for this individual assessment task is your ability to frequently reflect on your performance and develop skills associated with self awareness, team work, decision making, information literacy and ethical practice. The marking sheet for this individual assessment is available in the Assessment block in Moodle.
- Evaluate the environment within which the professional auditor operates
- Examine how auditing techniques and theory can influence professional auditing practices and relate these to current research
- Design an audit program using the principles of internal control and audit testing procedures.
- Problem Solving
- Information Literacy
- Team Work
- Ethical practice
Examination
Calculator - non-programmable, no text retrieval, silent only
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
