• Offered by Research School of Accounting
  • 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 2016
    Second Semester 2016
    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:

1. discuss the need for an independent audit and assurance function, and briefly describe the development of the role of the external and internal assurance provider in modern business society;

2. 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 a financial report audit and other assurance engagements;

3. describe the quality control procedures necessary to ensure that a competent assurance engagement is performed, and apply professional ethics including Code of Conduct to specific scenarios;

4. understand the financial report audit process, beginning with accepting clients, followed by understanding the client, evaluating business risk and assessing inherent risk, performing tests of controls to assess control risk and substantive tests to reduce detection risk, considering subsequent events and evaluating evidence gathered, ending in the formation of an audit opinion and communication of the results to the client;

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

6. for major transaction types and account balances, identify appropriate assertions at risk and apply appropriate audit procedures to test the assertions identified;

7. determine the appropriateness, in different circumstances, of different types of audit and review reports;

8. understand auditors’ legal liabilities, and be able to apply case law in making a judgement whether auditors might be liable to certain parties;

9. describe other assurance and non-assurance services provided by the auditing and assurance profession, and, for assurance services, understand the level of assurance provided;

10. develop students’ cognitive skills (especially analytical, appreciative, and communication 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

Typical assessment may include, but not restricted to, class participation, assignment(s), quizzes and examination(s).

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

Students are expected to have retained familiarity with the concepts studied in previous accounting, introductory commercial law (or equivalent), 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. Tuition fees are indexed annually. 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
2016 $3660
International fee paying students
Year Fee
2016 $4878
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
2781 15 Feb 2016 26 Feb 2016 31 Mar 2016 27 May 2016 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
7748 18 Jul 2016 29 Jul 2016 31 Aug 2016 28 Oct 2016 In Person N/A

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