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BUU44670 Audit and Assurance

5 ECT credits - (Semester One Module)

Lecturer

Niamh Penrose

Module Outline

Analysis of modern auditing theory and practice, focusing on the application of key auditing procedures and enabling students to appreciate the function, role and reporting requirements of an auditor in providing assurance to users of financial statements.

Learning and Teaching Approach

Lectures that explain theoretical facts along with the use of International Standards of Auditing. Case studies will be used extensively to illustrate the application of theory.

Learning Outcomes

On successful completion of this module, students should:

• Have an appreciation of the auditing function and be able to illustrate specific knowledge of key international auditing standards, as used in auditing practice worldwide.
• Demonstrate comprehension of the role, responsibility and duty of the auditor as well as the purpose, benefits and limitations of auditing.
• Assess the importance of ethics in auditing and the independence of the auditor.
• Outline the main steps in the audit process.
• Demonstrate the importance of audit planning and factors impacting on it.
• Evaluate and assess audit risk and its constituent components.
• Evaluate control procedures in an internal control system.

Pre-requisite:

BUU22530 Introduction to Accounting / BUU33530 Financial Accounting

Textbook and Readings

Required core course textbook: All required material will be uploaded to Blackboard. General Supplemental Readings: Additional technical auditing articles will also be uploaded to Blackboard.

Assessment

End of Semester One Examination (70%) will be 2 hours in duration; The (30%) assignment will be posted on Blackboard and done at home by students.
Reassessment will be 100% exam in the Reassessment period.