Registry

Module Specifications

Archived Version 2012 - 2013

Module Title	Assurance Services:Theory and Practice
Module Code	AC515
School	DCUBS
Online Module Resources
NFQ level	9	Credit Rating	5
Pre-requisite	None
Co-requisite	None
Compatibles	None
Incompatibles	None

Description

To develop further students' understanding of modern auditing procedures and to develop students' knowledge of current issues and recent developments in auditing.Students will examine the process of designing and implementating audit strategies, audit tests and the techniques employed by the modern auditor within the accounting profession. As part of their understanding of how the auditor reviews financial statements and reports thereon, students will consider issues such as managerial representations, the process of formulating the audit opinion as well audit qualifications and process of reaching the conlusion of the audit report. Finally, students will be provided with an extensive grounding in the contemporary issues within auditing such as auditing and fraud, auditor liability and the social and environmental aspects of auditing. The module will be delivered through a combination of lectures and tutorials.

Learning Outcomes

1. Complete substantive audit testing on individual audit components, including fixed assets, inventories, receivables, bank, payables and reserves.
2. Identify and evaluate the appropriateness and sufficiency of audit evidence.
3. Assess audit concerns with regard to post-balance sheet events, contingencies and going concern.
4. Perform a review of audit work documentation and audit conclusions.
5. Identify and evaluate the appropriateness of unqualified, modified and qualified audit reports.
6. Discuss further current issues in financial audit, including auditor liability and fraud.

*Type*	*Hours*	*Description*
Workload	Full-time hours per semester
Lecture	36	Weekly lectures
Assignment Completion	18	Independent student learning for continuous assessment
Independent Study	55	Independent study, lecture material review and preparation for formal examination
Independent Study	16	Reading of assigned texts and materials
Total Workload: 125

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

Indicative Content and Learning Activities

Audit Testing, Procedures and Techniques
Design and execution of audit strategy for Balance Shee components, Auditing in a computer environment; Audit of group financial statements.

Audit Review and Reporting
Going concern considerations and post balance sheet events review; Contingencies and commitments; Review and conclusion of an audit; Representations by management; Formation of an audit opinion; Audit reports including qualified audit reports. Concept of true and fair view.

Current Issues and Developments
The content of this section of the course will reflect the important issues at the time of teaching. Topics include: Auditors'liability to third parties; Auditors' responsibility in relation to fraud; Social and environmental auditing; Opportunities and challenges facing the auditing profession.

Assessment Breakdown
Continuous Assessment	20%	Examination Weight	80%

Type	Description	% of total	Assessment Date
Course Work Breakdown

Reassessment Requirement
Resit arrangements are explained by the following categories; 1 = A resit is available for all components of the module 2 = No resit is available for 100% continuous assessment module 3 = No resit is available for the continuous assessment component
Unavailable

Indicative Reading List

Cosserat and Rodda: 0, Modern Auditing, 3rd, Wiley,
ICAI: 0, Auditing and Assurance (CAP 2), 1st, ICAI,
Porter, Hatherly and Simon: 0, Principles of External Auditing, 3rd, Wiley,
Gray and Manson: 0, The Audit Process: Principles, Practice and Cases, 4th, Cengage Learning/Thomson,
Beasley, Buckless, Glover and Prawitt: 0, Auditing Cases: An Interactive Learning Approach, 4th, Pearson,

Other Resources

None

Programme or List of Programmes

MBS	MSc in Accounting
PBSSA	PG Exchange(Business School)

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