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 1 - 2024

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 Student Evaluation Questionnaire

Feedback

Useful Feedback

Recommendation

Efforts will be made to improve feedback.

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.

ACCT19064 supports external accreditation requirements for business acumen, critical thinking and communication competencies.

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 , Australia
ISBN: 9781488609138
Binding: Paperback

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Zoom Capacity (webcam and microphone)
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: 04 Mar 2024

Module/Topic

Introduction to the auditing profession  

Chapter

1

Events and Submissions/Topic

Introduction 

 

Week 2 Begin Date: 11 Mar 2024

Module/Topic

Legal environment and ethics

Chapter

2 & 3

Events and Submissions/Topic

Legal environment and ethics

 

Week 3 Begin Date: 18 Mar 2024

Module/Topic

Audit objectives and evidence

Chapter

4 & 5

Events and Submissions/Topic

Audit objectives and evidence

 

 

 

Week 4 Begin Date: 25 Mar 2024

Module/Topic

Audit planning and documentation

Chapter

6

Events and Submissions/Topic

Audit planning and documentation

 

Week 5 Begin Date: 01 Apr 2024

Module/Topic

Materiality and risk

Chapter

7

Events and Submissions/Topic

Materiality and risk

 

 

Vacation Week Begin Date: 08 Apr 2024

Module/Topic

No classes

Chapter

Events and Submissions/Topic

Week 6 Begin Date: 15 Apr 2024

Module/Topic

Internal control

Chapter

8

Events and Submissions/Topic

Internal control

 

Week 7 Begin Date: 22 Apr 2024

Module/Topic

Fraud and technology in the audit environment

Chapter

9 & 10

Events and Submissions/Topic

Fraud and technology in the audit environment

 


Assessment 1 - Online Quiz Due: Week 7 Friday (26 Apr 2024) 11:45 pm AEST
Week 8 Begin Date: 29 Apr 2024

Module/Topic

The audit program, sales and collection

Chapter

11, 12 & 13

Events and Submissions/Topic

The audit program, sales and collection

 

 

 


Assessment 2 - Practical Assessment Due: Week 8 Friday (3 May 2024) 11:45 pm AEST
Week 9 Begin Date: 06 May 2024

Module/Topic

Audit sampling

Chapter

14

Events and Submissions/Topic

Audit sampling

 

Week 10 Begin Date: 13 May 2024

Module/Topic

Audit of transaction cycles

Chapter

15 & 16

Events and Submissions/Topic

Audit of transaction cycles I & II

 


Assessment 3 - Practical and Written Assessment Due: Week 10 Friday (17 May 2024) 11:45 pm AEST
Week 11 Begin Date: 20 May 2024

Module/Topic

Completing the audit and audit reporting  

Chapter

17 &18

Events and Submissions/Topic

 

Week 12 Begin Date: 27 May 2024

Module/Topic

Unit revision

Chapter

Events and Submissions/Topic

 

Review/Exam Week Begin Date: 03 Jun 2024

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 10 Jun 2024

Module/Topic

Exam week

Chapter

Examination Period

Events and Submissions/Topic

 

Assessment Tasks

1 Online Quiz(zes)

Assessment Title
Assessment 1 - Online Quiz

Task Description

Task Description:

· Online MCQ based on the lecture material presented in weeks 1 - 6.

· This assessment item consists of an open-book online quiz available in Moodle.

· You must complete this quiz individually within the time period indicated.

· You will not be able to reopen the quiz after the assessment date.

· There are no extensions available for the online quiz.

· You only will have one attempt for the quiz.

· The quiz will open Monday in Week 5 and close Friday in Week 7.

Once you open the quiz you will have 40 minutes to complete 20 questions.


Number of Quizzes


Frequency of Quizzes

Other


Assessment Due Date

Week 7 Friday (26 Apr 2024) 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

Assessment Criteria:

This assessment item will assess your knowledge and problem-solving skill in relation to auditing topics 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
Assessment 2 - Practical Assessment

Task Description

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 (3 May 2024) 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

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 via Moodle through Turnitin.

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
Assessment 3 - Practical and Written Assessment

Task Description

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 10 Friday (17 May 2024) 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

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 online via Moodle through Turnitin.

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?