This course is primarily focused on the external audit of corporate financial statements while also covering other assurance services, professional ethics, and legal liabilities. The lectures are structured to correspond with the auditing process in theory and practice, and inevitably integrate Australian and International Auditing Standards. The majority of the lectures deal with the various activities undertaken by external auditors. The main stages of the audit process are addressed including risk analysis in auditing, audit planning and documentation, fraud auditing, gathering and evaluating audit evidence (including performance of tests of controls and substantive audit procedures) and the formation of the audit opinion. Other topics, including auditors' legal responsibilities, audit quality and ethics, and other assurance services, are also covered as special topics. The lectures mainly deal with the concepts underlying the methodology, while the tutorials are used to demonstrate how the methodology is applied in practical situations.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Critically evaluate the role and importance of independent external auditing in enhancing the credibility of financial reporting in Australia.
- Apply Australian auditing standards and regulatory requirements issued by the Auditing and Assurance Standards Board and enforced by the Australian Securities and Investments Commission.
- Apply professional ethics and quality control principles to assurance engagements in accordance with the auditing profession’s Code of Conduct in Australia.
- Analyse and apply the financial statement audit process, from client acceptance and audit planning to forming an audit opinion and communicating findings.
- Identify risks of material misstatement and design audit procedures to test key assertions.
- Evaluate audit evidence and apply appropriate sampling techniques to design suitable audit procedures.
- Analyse and evaluate auditors’ legal responsibilities and the range of assurance and non-assurance services provided by the auditing profession.
- Communicate auditing issues clearly in writing, using logical arguments and critical reflection.
Other Information
Indicative Assessment
- Typical assessment may include, but not restricted to, class participation, assignment(s), quizzes and examination(s). (100) [LO 1,2,3,4,5,6,7,8]
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 on course reading, research, writing and assignment work.
Inherent Requirements
No inherent requirements for the course.
Requisite and Incompatibility
Prescribed Texts
Information about the prescribed textbook (if any) will be made available via the Class Summary.
Assumed Knowledge
The course is designed to be taken in the final year of an accounting degree or major. You are expected to have retained familiarity with the concepts studied in previous accounting, introductory commercial law, information systems and introductory statistics courses.
Minors
Fees
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you 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). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- 34
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found 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 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
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 |
|---|---|---|---|---|---|---|
| 3798 | 22 Feb 2027 | 01 Mar 2027 | 31 Mar 2027 | 28 May 2027 | In Person | N/A |