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ACCT20075 - Financial Auditing and Ethics

General Information

Unit Synopsis

This course deals with the examination of the financial auditing environment. It specifically addresses issues dealing with the auditing standards and practice statements, ethics, current developments and legal liability. The course also examines the legal, ethical and professional requirements that determine the conduct of the financial audit. The course balances both theoretical and practical aspects of financial auditing. Students are introduced to statistical and non-statistical sampling as well as audit methodology, planning and internal control. If you have successfully completed the course ACCT20040 you should not enrol in this course.

Details

Level Postgraduate
Unit Level 9
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites

Students must successfully complete ACCT20071 Foundations of Financial Accounting prior to enrolling in this course.

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).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 3 - 2014

Term 1 - 2017 Profile
Brisbane
Distance
Melbourne
Sydney
Term 2 - 2017 Profile
Brisbane
Distance
Melbourne
Sydney
Term 1 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 2 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 1 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2019 Profile
Online
Term 1 - 2020 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2020 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2020 Profile
Online
Term 1 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 1 - 2022 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2022 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2022 Profile
Online

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).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Postgraduate 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.

Assessment Tasks

Assessment Task Weighting
1. Written Assessment 20%
2. Practical and Written Assessment 30%
3. Examination 50%

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

Past Exams

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Previous Feedback

Term 1 - 2021 : The overall satisfaction for students in the last offering of this course was 4.1 (on a 5 point Likert scale), based on a 54.17% response rate.

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.

Source: Informal student feedback.
Feedback
Students benefit from completing a practical, applied research project focused on their assigned ASX company.
Recommendation
This assessment item will be continued.
Action Taken
Students were given a practical, applied research project that focused on their assigned ASX company.
Source: Unit Evaluation
Feedback
Students supported the use of examples to illustrate audit practice
Recommendation
Will continue to use practical examples in lectures and workshops.
Action Taken
Nil.
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Evaluate and apply systems theory and the risk-based approach to the practice of financial auditing.
  2. For a given business scenario, analyse the internal controls applicable to the transaction cycles of the business, then correctly apply the appropriate control and substantive tests for each cycle.
  3. Evaluate and apply the appropriate auditing standard for a given situation.
  4. Critically evaluate and report on the ethical and legal aspects of planning, executing and reporting on a financial audit.
  5. Evaluate the different types of audit reports that can be presented, and apply the appropriate report for a given situation.

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5
1 - Written Assessment
2 - Practical and Written Assessment
3 - Examination
Alignment of Graduate Attributes to Learning Outcomes
Advanced Level
Professional Level
Graduate Attributes Learning Outcomes
1 2 3 4 5
1 - Knowledge
2 - Communication
3 - Cognitive, technical and creative skills
6 - Ethical and Professional Responsibility
Alignment of Assessment Tasks to Graduate Attributes
Advanced Level
Professional Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7
1 - Written Assessment
2 - Practical and Written Assessment
3 - Examination