Registry
Module Specifications
Current Academic Year 2012 - 2013
Please note that this information is subject to change.
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| Description | |||||||||||||||||||||||||||||||||||||||||
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To familiarise students with the regulatory framework of, and the principles underlying auditing;To give students an understanding of modern auditing procedures;To provide students with an understanding of business and professional ethics. | |||||||||||||||||||||||||||||||||||||||||
| Learning Outcomes | |||||||||||||||||||||||||||||||||||||||||
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1. Discuss the purpose, role and fundamental principles of auditing 2. Discuss the importance of business and professional ethics in auditing 3. Outline the main steps of the audit process, including audit planning, risk assessment, controls testing and substantive testing 4. Identify and apply relevant audit regulation and standards 5. Identify and evaluate risk factors attaching to a prospective or continuing audit engagement 6. Discuss the importance of audit planning and complete an appropriate audit strategy and audit plan, with regard to a prospective or continuing audit engagement 7. Critically assess an internal control system and associated control risk factors 8. Discuss current issues in external financial audit, including auditor independence and expectations gap | |||||||||||||||||||||||||||||||||||||||||
All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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| Indicative Content and Learning Activities | |||||||||||||||||||||||||||||||||||||||||
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Fundamental Auditing Principles. Definition of auditing and distinction between auditing and accounting; Primary and secondary objectives of an audit; The concepts of materiality, audit evidence, audit risk, confidentiality, auditor independence, and a "true and fair" view.. Professional, Legal and Ethical Framework of Auditing. Appointment and remuneration of auditors; Letters of engagement; Powers, duties and rights of auditors; Professional ethics and rules of professional conduct; Removal of auditors; Case Law; Professional indemnity insurance. Planning, Controlling and Recording of Audit Work: Audit approach; Audit planning; The conduct of an audit; Recording audit evidence; Controlling and administering audit work.. Systems of Accounting and Internal Control. Meaning of internal controls; Limitations on the effectiveness of internal controls; Understanding, recording, evaluating and testing systems of accounting and internal controls; Reports to management; Reliance on internal audit.. Audit Testing, Procedures and Techniques. Objectives of audit testing techniques. Audit of Bank and Cash, Sales and Debtors, Purchases and Creditors, Payroll.. Current issues and developments in Auditing reflecting the important issues of the time of teaching. Topics include regulatory framework of Auditing Profession, recent legislation impacting on the work of auditors, Expectations gap etc.. Business and Professional Ethics. Fundamental principles of business ethics; Social responsibility.. | |||||||||||||||||||||||||||||||||||||||||
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| Indicative Reading List | |||||||||||||||||||||||||||||||||||||||||
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| Other Resources | |||||||||||||||||||||||||||||||||||||||||
| None | |||||||||||||||||||||||||||||||||||||||||
| Array | |||||||||||||||||||||||||||||||||||||||||
| Programme or List of Programmes | |||||||||||||||||||||||||||||||||||||||||
| MBS | MSc in Accounting | ||||||||||||||||||||||||||||||||||||||||
| PBSSA | PG Exchange(Business School) | ||||||||||||||||||||||||||||||||||||||||
| Timetable this semester: Timetable for AC512 | |||||||||||||||||||||||||||||||||||||||||
| Date of Last Revision | 12-JAN-11 | ||||||||||||||||||||||||||||||||||||||||
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