22730 Autumn 2015 Subject Outline

Topics: Auditing, Financial audit, Audit Pages: 11 (4491 words) Published: April 25, 2015
SUBJECT OUTLINE
22730 Auditing and Assurance Services
Course area

UTS: Business

Delivery

Autumn 2015; City

Credit points 6cp
Requisite(s)

(22748 Financial Reporting and Analysis AND 22754 Corporate Accounting AND ( 22747 Accounting for Managerial Decisions OR 22784 Accounting: Concepts and Applications))
These requisites may not apply to students in certain courses. There are also course requisites for this subject. See access conditions.

Result type

Grade and marks

Subject coordinator
Subject Coordinator : Dr Brett Govendir
Office : CB08.07.91
Phone : +61 2 9514 3582
Email : Brett.Govendir@uts.edu.au
Consultation: Refer to the 'Staff Information' tab on UTSOnline for details All queries for subject administration (e.g., exams, classes, special considerations, appeals) are to be directed to the Subject Coordinator. All communication should be from your official UTS student email address. Staff will not respond to requests from non-UTS email accounts (e.g., Hotmail or Gmail).

Subject description
This subject addresses the provision of auditing and assurance services. It focuses mainly on the attest services offered by auditors to provide credibility of information in company and other organisation financial statements. It also considers the expansion of assurance services beyond the traditional financial statement audit into such areas as risk assessment, information system reliability, asset protection, detection and prevention of fraud and electronic commerce. It also deals with the methodology necessary to complete a financial statement audit or to provide other assurance services, and the criteria and professional standards used to measure information quality and integrity. The subject studies the audit process of understanding client's operations and risk, analytical review and the pivotal importance of evaluation of the quality of client internal control and evaluates internal control in a COSO framework. While internal control systems are evaluated assuming a business environment where information systems are an integral part of control systems and client operations, a variety of information technology environments (including the use of enterprise resource planning (ERP) systems such as SAP e-commerce applications) are introduced. The subject provides an understanding of professional, ethical and legal requirements and responsibilities in completing and reporting on assurance tasks. It is accredited by the accounting professional bodies.

Subject objectives
Upon successful completion of this subject students should be able to: 1. discuss the role of auditors and auditing in providing financial statement audits on the quality of information firms' annual financial reports

2. demonstrate the methodologies necessary to provide assurance and audit services in conjunction with the criteria used to measure information quality and authenticity, especially in the areas of risk assessment, audit planning, audit execution and the formulation of opinions

3. explain the professional legal and ethical requirements and responsibilities in completing and reporting on assurance and audit tasks

03/02/2015 (Autumn 2015)

© University of Technology, Sydney

Page 1 of 8

4. work as a member of an assurance/audit team designing audit tasks and making judgments, and communicating assurance/auditing findings to appropriate users.
This subject also contributes specifically to the following program learning objectives: Research and apply forward thinking accounting strategies in complex and unfamiliar workplace situations in order to facilitate management decision making (1.1)

Satisfy the academic requirements for membership of CPA Australia and the ICAA (5.1) Execute a substantial research-based or professionally focused project (5.2)

Contribution to the development of graduate attributes
This subject addresses the provision of auditing and assurance services. It sets out the...

References: 03/02/2015 (Autumn 2015)
© University of Technology, Sydney
Corporations Act 2001
Competition and Consumer Act 2010 (replacing Trade Practises Act 1974)
is located in Student Services, on level 3 building 1 at City campus and via the Student Services area at Kuring-gai
(phone 9514 2327 or 9514 2361).
03/02/2015 (Autumn 2015)
© University of Technology, Sydney
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