CQUniversity Unit Profile
ACCT19064 Auditing & Professional Practice
Auditing & Professional Practice
All details in this unit profile for ACCT19064 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student).
The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.
General Information

Overview

In this unit, you will examine the professional environment of the auditor, particularly audit standards, audit practice, legal liability, ethics and current developments (e.g., Audit Expectation Gap). Audit methodology and planning, internal control assessments and exposure to influences of information technology 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, you will gain an appreciation of the role and needs of audit professionals in business environments.

Details

Career Level: Undergraduate
Unit Level: Level 3
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

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 2 - 2022

Brisbane
Melbourne
Online
Sydney

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).

Class and Assessment Overview

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

Bundaberg, Cairns, Emerald, Gladstone, Mackay, Rockhampton, Townsville
Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview

1. Online Quiz(zes)
Weighting: 10%
2. Practical Assessment
Weighting: 15%
3. Practical and Written Assessment
Weighting: 15%
4. Online Test
Weighting: 60%

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.

Previous Student Feedback

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 Unit Evaluations

Feedback

Workshops should focus more on answering workshop questions.

Recommendation

More time will be devoted to answering the set workshop questions.

Feedback from Unit Evaluations

Feedback

Workshops introduced real auditing practices.

Recommendation

The unit will add to this by further integrating Excel into the lectures and assignments.

Feedback from Unit Evaluations

Feedback

Some students were concerned with delays in receiving feedback on assignments

Recommendation

Although the average feedback of the four assignments amounted to 1less than 10 days (which is within CQU guidelines), markers will nonetheless make a concerted effort to return the first of the four assignments within 10 days.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Exercise judgement under supervision to provide possible solutions to routine audit and accounting problems in straightforward concepts using appropriate regulatory, ethical, economic and governance perspectives
  2. Integrate theoretical and technical audit and accounting knowledge in an audit context
  3. Critically apply theoretical and technical audit and accounting knowledge and skills to provide possible solutions to routine audit related issues
  4. Justify and communicate audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports
  5. Reflect on performance to identify and action learning opportunities and self-improvements.


Alignment of Learning Outcomes, Assessment and Graduate Attributes
N/A Level
Introductory Level
Intermediate Level
Graduate Level
Professional Level
Advanced Level

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 - Online Test - 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
Textbooks and Resources

Textbooks

Prescribed

Auditing, Assurance Services & Ethics in Australia

Edition: 10th edn (2017)
Authors: Arens, Best, Shailer, Fiedler Elder & Beasley
Pearson Australia
Melbourne Melbourne , Victoria
ISBN: 9781488609138
Binding: Paperback

Additional Textbook Information

This book is available to read online through the Library website. If you would like your own copy, you can purchase either paper or eBook copies at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code).

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Media Player
  • Microsoft Office (Word, Excel and PowerPoint)
Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)

For further information, see the Assessment Tasks.

Teaching Contacts
Kazi Islam Unit Coordinator
k.islam@cqu.edu.au
Schedule
Week 1 Begin Date: 11 Jul 2022

Module/Topic

Introduction to Auditing

Chapter

1 & 18

Events and Submissions/Topic

Week 2 Begin Date: 18 Jul 2022

Module/Topic

Audit Objectives & Evidence

Chapter

4  & 5

Events and Submissions/Topic

Week 3 Begin Date: 25 Jul 2022

Module/Topic

Planning & Documentation

Chapter

6

Events and Submissions/Topic

Week 4 Begin Date: 01 Aug 2022

Module/Topic

Materiality & Audit Risk

Chapter

7

Events and Submissions/Topic

Week 5 Begin Date: 08 Aug 2022

Module/Topic

Internal Controls

Chapter

8

Events and Submissions/Topic

Vacation Week Begin Date: 15 Aug 2022

Module/Topic

Chapter

Events and Submissions/Topic

Week 6 Begin Date: 22 Aug 2022

Module/Topic

Legal Environment & Ethics

Chapter

2 & 3

Events and Submissions/Topic

Week 7 Begin Date: 29 Aug 2022

Module/Topic

Audit Program - Sales and Collection

Chapter

11, 12 & 13

Events and Submissions/Topic

Online Quiz(zes) Due: Week 7 Friday (2 Sept 2022) 11:45 pm AEST
Week 8 Begin Date: 05 Sep 2022

Module/Topic

Audit Transaction Cycles

Chapter

15 & 16

Events and Submissions/Topic

Practical Assessment Due: Week 8 Friday (9 Sept 2022) 11:45 pm AEST
Week 9 Begin Date: 12 Sep 2022

Module/Topic

Sampling

Chapter

14

Events and Submissions/Topic

Week 10 Begin Date: 19 Sep 2022

Module/Topic

Fraud & IT

Chapter

9 & 10

Events and Submissions/Topic

Week 11 Begin Date: 26 Sep 2022

Module/Topic

Completing the Audit

Chapter

17 & 18

Events and Submissions/Topic

Practical and Written Assessment Due: Week 11 Friday (30 Sept 2022) 11:45 pm AEST
Week 12 Begin Date: 03 Oct 2022

Module/Topic

Revision

Chapter

All Chapters

Events and Submissions/Topic

Review/Exam Week Begin Date: 10 Oct 2022

Module/Topic

No teaching in this week 

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 17 Oct 2022

Module/Topic

Chapter

Events and Submissions/Topic

Assessment Tasks

1 Online Quiz(zes)

Assessment Title
Online Quiz(zes)

Task Description

Assessment item 1 consists of an open-book online quiz available in Moodle. The quiz will consist of a range of multiple-choice questions from weeks 1 to 6. The quiz will open Monday in Week 5 and close Friday in Week 7. You will have to complete and submit 20 questions in 40 minutes. You will not be able to re-open the quiz after the due date and time. There are no extensions available for the online quiz. 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, you need to monitor your emails closely so you can complete the quiz as instructed.


Number of Quizzes

1


Frequency of Quizzes

Other


Assessment Due Date

Week 7 Friday (2 Sept 2022) 11:45 pm AEST


Return Date to Students

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 unit website via the Gradebook.


Weighting
10%

Assessment Criteria

This assessment item will assess your problem-solving skills in relation to auditing concepts covered in weeks 1 to 6.


Referencing Style

Submission
Online

Submission Instructions
The online quiz is to be completed online within Moodle.

Learning Outcomes Assessed
  • Exercise judgement under supervision to provide possible solutions to routine audit and accounting problems in straightforward concepts using appropriate regulatory, ethical, economic and governance perspectives
  • Integrate theoretical and technical audit and accounting knowledge in an audit context
  • Critically apply theoretical and technical audit and accounting knowledge and skills to provide possible solutions to routine audit related issues
  • Justify and communicate audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports

2 Practical Assessment

Assessment Title
Practical Assessment

Task Description

This assessment is part of an overall integrated research project completed by each student, focused on his/her own

allocated ASX listed company. Details are provided on the Moodle site for this unit defining the specific tasks to be

completed for the assignment. You are required to submit an academic report which addresses these tasks in the

context of your allocated ASX listed company.


Assessment Due Date

Week 8 Friday (9 Sept 2022) 11:45 pm AEST


Return Date to Students

Assignment feedback and marks will be available in Moodle in two weeks after the due date.


Weighting
15%

Assessment Criteria

You will be assessed on your ability to demonstrate and communicate your analysis and understanding of a business

situation or knowledge of a theoretical aspect in relation to an external audit. In addition to the marks awarded based on

the comprehensiveness, correctness and critical analysis presented in the report, marks are also awarded for

appropriate writing style, including referencing, grammar, punctuation, syntax and spelling.


Referencing Style

Submission
Online

Submission Instructions
Submit your MS Word document and Microsoft Excel spreadsheet through Turnitin on Moodle.

Learning Outcomes Assessed
  • Exercise judgement under supervision to provide possible solutions to routine audit and accounting problems in straightforward concepts using appropriate regulatory, ethical, economic and governance perspectives
  • Integrate theoretical and technical audit and accounting knowledge in an audit context
  • Critically apply theoretical and technical audit and accounting knowledge and skills to provide possible solutions to routine audit related issues
  • Justify and communicate audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports
  • Reflect on performance to identify and action learning opportunities and self-improvements.

3 Practical and Written Assessment

Assessment Title
Practical and Written Assessment

Task Description

Assessment Item 3 is a continuation of the requirements in Assessment Item 2.


Assessment Due Date

Week 11 Friday (30 Sept 2022) 11:45 pm AEST


Return Date to Students

Assignment feedback and marks will be available in Moodle.


Weighting
15%

Assessment Criteria

You will be assessed on your ability to demonstrate and communicate your analysis and understanding of a business

situation or knowledge of a theoretical aspect in relation to an external audit. In addition to the marks awarded based on

the comprehensiveness, correctness and critical analysis presented in the report, marks are also awarded for

appropriate writing style, including referencing, grammar, punctuation, syntax and spelling.


Referencing Style

Submission
Online

Submission Instructions
Submit your MS Word document through Turnitin on Moodle.

Learning Outcomes Assessed
  • Exercise judgement under supervision to provide possible solutions to routine audit and accounting problems in straightforward concepts using appropriate regulatory, ethical, economic and governance perspectives
  • Integrate theoretical and technical audit and accounting knowledge in an audit context
  • Critically apply theoretical and technical audit and accounting knowledge and skills to provide possible solutions to routine audit related issues
  • Justify and communicate audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports
  • Reflect on performance to identify and action learning opportunities and self-improvements.

4 Online Test

Assessment Title
Online Test

Task Description

This is an online test to be completed individually on Moodle by the due time. Further information is available on Moodle.


Assessment Due Date

To be completed during the examination period.


Return Date to Students

Results will be released after approval of grades.


Weighting
60%

Assessment Criteria

This online test will examine students' ability in identifying relevant theory and demonstrating knowledge, applying relevant

theory and knowledge to solve problems, and quality of writing, grammar, syntax and spelling.


Referencing Style

Submission
Online

Submission Instructions
To be completed and submitted via Moodle by the due date and time.

Learning Outcomes Assessed
  • Exercise judgement under supervision to provide possible solutions to routine audit and accounting problems in straightforward concepts using appropriate regulatory, ethical, economic and governance perspectives
  • Integrate theoretical and technical audit and accounting knowledge in an audit context
  • Critically apply theoretical and technical audit and accounting knowledge and skills to provide possible solutions to routine audit related issues
  • Justify and communicate audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports

Academic Integrity Statement

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?