Registry

Module Specifications

Archived Version 2008 - 2009

Module Title	Auditing and Professional Ethics
Module Code	AC512
School	DCUBS
Online Module Resources
Module Co-ordinator	Ms Brid Murphy	Office Number	Q155
Level	5	Credit Rating	5
Pre-requisite	None
Co-requisite	None

Module Aims

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.

Learning Outcomes

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 incorporating audit planning and detailed compliance and substantive audit work;

3. Appreciate ethical issues in a business and professional environment.

Indicative Time Allowances
	Hours
Lectures	36
Tutorials	10
Laboratories	0
Seminars	0
Independent Learning Time	29

Total	75
Placements
Assignments

NOTE

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.

Indicative Syllabus

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.

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, Sales and Debtors, Purchases and Creditors, Payroll.

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 etc.

Business and Professional Ethics: Fundamental principles of business ethics; Social responsibility.

Assessment
Continuous Assessment	20%	Examination Weight	80%

Indicative Reading List

1. Cosserat, G., 'Modern Auditing', 2nd edition Wiley 2004.

2. Beasley, M et al: Auditing Cases - 'An interactive Learining Approach', 3rd edition Pearson 2006.

3. Gray, I. and Manson, S., 'The Audit Process Principles', Practice and Causes, 3rd edition 2005.

4. Porter, B., Simon, I. and Hatherly, D., 'Principles of External Auditing', Wiley 2003.

5. Woolf, E.,' Auditing Today'. Prentice Hall 1997.

6. Dunn, J. Auditing: 'Theory & Practice' 2nd edition 1996.

Programme or List of Programmes

MBS

MBS in Accounting

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