Module Specifications.
Current Academic Year 2024 - 2025
All Module information is indicative, and this portal is an interim interface pending the full upgrade of Coursebuilder and subsequent integration to the new DCU Student Information System (DCU Key).
As such, this is a point in time view of data which will be refreshed periodically. Some fields/data may not yet be available pending the completion of the full Coursebuilder upgrade and integration project. We will post status updates as they become available. Thank you for your patience and understanding.
Date posted: September 2024
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Description To familiarise students with the regulatory framework of, and the principles underlying auditing; To give students an understanding of modern auditing procedures; To provide students with an understanding of business and professional ethics. | |||||||||||||||||||||||||||||||||||||||||||
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Learning Outcomes 1. Discuss the purpose, role and fundamental principles of auditing 2. Discuss the importance of business and professional ethics in auditing 3. Outline the main steps of the audit process, including audit planning, risk assessment, controls testing and substantive testing 4. Identify and apply relevant audit regulation and standards 5. Identify and evaluate risk factors attaching to a prospective or continuing audit engagement 6. Discuss the importance of audit planning and complete an appropriate audit strategy and audit plan, with regard to a prospective or continuing audit engagement 7. Critically assess an internal control system and associated control risk factors 8. Discuss current issues in external financial audit, including auditor independence and expectations gap, corporate governance, fraud, auditing in a computerised environment, using the work of others | |||||||||||||||||||||||||||||||||||||||||||
All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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Indicative Content and Learning Activities
Fundamental Auditing PrinciplesDefinition of auditing and distinction between auditing and accounting; Primary and secondary objectives of an audit; The concepts of materiality, audit evidence, audit risk, confidentiality, auditor independence, and a "true and fair" view.Professional, Legal and Ethical Framework of AuditingAppointment and remuneration of auditors; Letters of engagement; Powers, duties and rights of auditors; Professional ethics and rules of professional conduct; Removal of auditors; Case Law; Professional indemnity insurance.Introduction to the Audit ProcessPlanning, Controlling and Recording of Audit Work: Audit approach; Audit planning; The conduct of an audit; Recording audit evidence; Controlling and administering audit work.Systems of Accounting and Internal ControlMeaning of internal controls; Limitations on the effectiveness of internal controls; Understanding, recording, evaluating and testing systems of accounting and internal controls; Reports to management; Reliance on internal audit.Control Testing, Procedures and TechniquesObjectives of control testing and techniques: Sales and Receivables, Purchases and Payables, Payroll, Bank and Cash,.Current issues and developments in Auditing reflecting the important issues of the time of teaching.Topics include regulatory framework of Auditing Profession, recent legislation impacting on the work of auditors, expectations gap, auditing in a computerised environment, using the work of others etc.Professional EthicsFundamental principles of professional and relevant guidance | |||||||||||||||||||||||||||||||||||||||||||
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Indicative Reading List
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Other Resources None | |||||||||||||||||||||||||||||||||||||||||||