Auditing is an important process necessary to provide assurance about the accuracy and transparency of corporate financial statements. This subject introduces the principles and practices of external auditing in the public accounting domain within the framework of Australian and International Auditing Standards. Whilst the audit risk model and each phase of the audit process is presented, emphasis is also placed on ethical considerations, independence and corporate governance.
|Faculty||Bond Business School|
1. Explain the purpose, nature and limitations of financial statement auditing.
2. Demonstrate an understanding of the principles of professional ethics and auditor independence and the role of regulators.
3. Explain the phases of an audit, and how understanding an entity and its environment assists the auditor in developing audit strategies and obtaining evidence.
4. Demonstrate the ability to make decisions about various elements of the audit risk model, and determine how those decisions influence decisions about the nature, timing, and extent of audit procedures.
5. Apply appropriate tests of controls and substantive testing procedures in executing an audit.
6. Explain the auditor's responsibilities in completing, and reporting on, a financial audit.
7. Prepare an audit report on a set of financial statements
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
Assumed Prior Learning (or equivalent):
|Withdraw – Financial?||10/10/2020|
|Withdraw – Academic?||31/10/2020|
|Withdraw – Financial?||13/02/2021|
|Withdraw – Academic?||06/03/2021|