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 cases and discussion questions are used to demonstrate how the methodology is applied in practical situations. Research papers assist students with a better understanding of otherwise abstract auditing concepts and motivate students to further study the specific areas they may be more interested in.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Critically analyse the role and importance of auditing and assurance services, including the evolution of assurance functions in Australia, and evaluate the nature, scope and level of assurance provided by different types of engagements.
- Critically evaluate the regulatory and ethical environment in which auditors operate in Australia and apply the relevant auditing and assurance standards, ethical requirements, and regulatory provisions.
- Evaluate the effectiveness of quality management frameworks in supporting competent and independent assurance engagements, applying these frameworks to complex or ambiguous scenarios.
- Execute and critically evaluate the financial report audit process, encompassing client acceptance, risk assessment, planning, evidence gathering, and the formation and communication of audit opinions.
- Select, apply, and justify appropriate audit procedures, including tests of controls, substantive procedures, and audit sampling techniques.
- Evaluate audit evidence, assess the materiality and pervasiveness of identified misstatements, and defend the selection of an appropriate audit opinion with well-reasoned professional judgement.
- Critically analyse auditors' legal liabilities in Australia, applying relevant case law to construct and defend judgements about potential auditor liability in ambiguous circumstances.
- Produce well-reasoned, professionally structured written analysis on contemporary auditing and assurance issues, demonstrating critical reflection, independent judgement, and the capacity to engage with competing perspectives.
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]
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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
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.
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 |
|---|---|---|---|---|---|---|
| 3706 | 22 Feb 2027 | 01 Mar 2027 | 31 Mar 2027 | 28 May 2027 | 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 |
|---|---|---|---|---|---|---|
| 8710 | 26 Jul 2027 | 02 Aug 2027 | 31 Aug 2027 | 29 Oct 2027 | In Person | N/A |