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Module Title |
Auditing and Professional Ethics
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Module Code |
AC512
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School |
DCUBS
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Online Module Resources
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Level |
5
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Credit Rating |
5
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Pre-requisite |
None
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Co-requisite |
None
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Module Aims
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To familiarise students with the regulatory framework of, and the principles underlying auditing; to give students an understanding of modern auditing procedures; and to provide students with an understanding of business and professional ethics.
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Learning Outcomes
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On completion of the module, the student should be able to:
1. appreciate the regulatory framework and principles underlying auditing;
2. understand basic auditing procedures;
3. appreciate ethical issues in a business and professional environment.
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Indicative Time Allowances
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Hours
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Lectures |
36
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Tutorials |
10
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Laboratories |
0
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Seminars |
0
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Independent Learning Time |
29
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Total |
75
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Placements |
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Assignments |
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NOTE
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Assume that a 5 credit module load represents approximately 75 hours' work, which includes all teaching, in-course assignments, laboratory work or other specialised training and an estimated private learning time associated with the module.
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Indicative Syllabus
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Fundamental Auditing Principles: Definition 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.
Current issues and developments in Auditing: Reflect the unimportant issues of the time of teaching. Topics covered in 2003/04 include Audit expectations gap, regulatory framework of Auditing Profession, recent legislation impacting on the work of auditors.
Professional, Legal and Ethical Framework of Auditing: Appointment 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.
Planning, 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 Control: Meaning 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.
Audit Testing, Procedures and Techniques: Objectives of audit testing techniques. Audit of Bank and Cash and Debtors.
Business and Professional Ethics: Fundamental principles of business ethics; Social responsibility; The employer/employee relationship; Ethics of financing business and insider information; Advertising and the protection of the customer.
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| Assessment | | Continuous Assessment | 0% | Examination Weight | 100% |
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Indicative Reading List
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ICAI Handbook: Statements of Auditing Standards
Cosserat, G., Modern Auditing, Wiley 2002
Woolf, E., Auditing Today. Prentice Hall 1997
Dunn, J. Auditing: Theory & Practice 2nd ed. 1996
Ferrell, O. and Fraedich, J. Business Ethics: Ethical Decision Making and Cases. Houghton Mifflin 1994.
Millichap, A.H. Auditing 7th ed. 1996
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Programme or List of Programmes
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| MBS | MBS in Accounting |
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