• Offered by Research School of Accounting & Business Info Syst
  • ANU College ANU College of Business and Economics
  • Classification Specialist
    Transitional
  • Course subject Business
  • Areas of interest Accounting, Commerce
  • Academic career PGRD
  • Course convener
    • Dr Li Wei Jiang
    • Dr Masoud Azizkhani
  • Mode of delivery In Person
  • Offered in First Semester 2014
    Second Semester 2014
    See Future Offerings

This course examines the role of auditing and assurance in the assessment of the reliability of corporate financial information primarily in the context of the Australian institutional and legal environment, but cognisant of other jurisdictions too.  This examination includes reviewing the fundamental concepts of assurance provision, especially in the context of the audit of financial reports, gaining an understanding of requirements of auditors and other assurance providers pursuant to auditing standards, introducing basic audit and assurance techniques and procedures, and provision of an appropriate level of assurance on financial reports.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

Upon successful completion of the requirements for this course, students will be able to:

a)    discuss the need for an independent audit and assurance function and briefly describe the development of the role of the external and internal auditor in modern business society;

b)    explain the regulatory environment in which the auditor operates (including relevant sections of the Corporations Act 2001 and the auditing standards issued by the Australian Auditing and Assurance Standards Board (AUASB)) as well as the ethical pronouncements issued by the Accounting Professional and Ethical Standards Board (APESB), and apply those rules, standards and pronouncements to the conduct of financial report audit and review engagements;

c)    describe the quality control procedures necessary to ensure that a competent audit or review engagement is performed;

d)    follow the development of case law in respect of the definition of auditor's responsibilities to clients and to third parties;

e)    understand the audit and assurance process, beginning with gaining an understanding of the client and its associated business risks, followed by the assessment of controls to manage, mitigate or share those risks, followed again by the development of an audit program of tests of control and substantive tests and ending in the communication of the results to the shareholders;

f)     work with the concepts of audit risk and assurance, and audit testing procedures (including computer assisted auditing testing procedures) grouped by financial report and hence audit assertions, for major transaction types and account balances across the accounting cycles;

g)    describe the various levels of persuasiveness of different types of audit evidence and explain the broad principles of audit sampling techniques;

h)    determine the appropriateness, in different circumstances, of different types of audit and review reports and write (prepare) such reports;

i)      apply recent academic research to the theory and practice of financial report audits.

In addition, the course aims to develop students’ cognitive skills (especially analytical and appreciative skills) and behavioural skills (especially personal and interpersonal skills).

Other Information

See the course outline on the College courses page. Outlines are uploaded as they become available. 

Indicative Assessment

  • Weekly Assignment 10%
  • Mid Semester Examination 20%
  • Group Assignment 15%
  • Final Examination 55%

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Workload

Students taking this course are expected to commit at least 10 hours a week to completing the work. This will include 3 hours per week in class and at least 7 hours a week on average (including non-teaching weeks) on course reading, research, writing and assignment work.

Requisite and Incompatibility

To enrol in this course you must have completed BUSN7050 and be studying or have completed BUSN7057. You are not able to enrol in this course if you have previously completed BUSN3002

Assumed Knowledge

This course is designed to be taken in the final semester of an accounting major.  You are expected to have retained familiarity with the concepts previously studied in accounting, introductory commercial law, information systems and introductory statistics courses.

Fees

Tuition fees are for the academic year indicated at the top of the page.  

If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Students continuing in their current program of study will have their tuition fees indexed annually from the year in which you commenced your program. Further information for domestic and international students about tuition and other fees can be found at Fees.

Student Contribution Band:
3
Unit value:
6 units

If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees.  Where there is a unit range displayed for this course, not all unit options below may be available.

Units EFTSL
6.00 0.12500
Domestic fee paying students
Year Fee
1994-2003 $2922
2004 $3234
2005 $3234
2006 $3240
2007 $3240
2008 $3240
2009 $3240
2010 $3240
2011 $3240
2012 $3240
2013 $3240
2014 $3246
International fee paying students
Year Fee
1994-2003 $2922
2004 $3234
2005 $3234
2006 $3534
2007 $3618
2008 $3618
2009 $3618
2010 $3942
2011 $3942
2012 $3942
2013 $3942
2014 $3948
Note: Please note that fee information is for current year only.

Offerings, Dates and Class Summary Links

The list of offerings for future years is indicative only.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.

First Semester

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
3368 17 Feb 2014 07 Mar 2014 31 Mar 2014 30 May 2014 In Person N/A

Second Semester

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
7364 21 Jul 2014 08 Aug 2014 31 Aug 2014 30 Oct 2014 In Person N/A

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions