Course Catalogue

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This course aims to discuss the concepts, theories and issues in auditing, with a particular focus on the role of audit in capital markets and society. As a research informed course, students are expected to engage with the academic and professional literature on the auditing profession and practice of audit in order to understand and critically appraise contemporary issues.

10 2-hour seminars (on campus)

8 1-hour tutorials (on campus)

A number of asynchronous activities will take place online.

Normally D3 in Business Systems & Assurance or equivalent.

Please refer to the current undergraduate prospectus at : https://www.gla.ac.uk/undergraduate/

ACCFIN4009

None

Course work essay of 2,000 words (25%)

Written exam (75%)

Reassessments are normally available for all courses, except those which contribute to the Honours classification. Where, exceptionally, reassessment on Honours courses is required to satisfy professional/accreditation requirements, only the overall course grade achieved at the first attempt will contribute to the Honours classification. For non-Honours courses, students are offered reassessment in all or any of the components of assessment if the satisfactory (threshold) grade for the overall course is not achieved at the first attempt. This is normally grade D3 for undergraduate students and grade C3 for postgraduate students. Exceptionally it may not be possible to offer reassessment of some coursework items, in which case the mark achieved at the first attempt will be counted towards the final course grade. Any such exceptions for this course are described below. 

This course aims to set auditing within its broader historical, professional, regulatory and ethical context in order that students can understand how the auditing profession is structured and regulated and how individual auditors are expected to discharge their professional responsibilities. The course will be research-informed, with the aim of helping students develop their graduate skills of critical inquiry. Many of the students will go on to become auditors and this course aims to complement the Business Systems & Assurance course by providing them with additional subject matter expertise.

The course content will include topics of contemporary significance to the profession and so it is subject to change. Indicative topics are:

■ The philosophy and theories of audit, exploring the emergence of public interest as an audit objective.

■ The audit expectation gap, looking at how society's expectations of audit vary from the actual practice of audit.

■ Ethics and independence as specified in international and professional guidance.

■ Audit quality and how it is regulated and assessed.

■ The audit market and recent attempts to diversify and strengthen the supply side of the market.

■ Auditor liability and implications for the practice of audit.

■ Audit & technology.

■ Internal audit and the relationship of internal audit to external audit

■ Broader assurance practices and developments including assurance of sustainability reporting.

By the end of this course students will be able to:

1. Evaluate the role and responsibilities of the external auditor in capital markets.

2. Critically assess the structure and performance of the external audit market.

3. Appraise the professional, legislative and regulatory framework that external audit works within.

4. Appraise the wider assurance context including environmental audit and internal audit.

5. Critically analyse current topical issues in the practice of audit.

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.