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 lectures 

8 1-hour tutorials 

A number of asynchronous activities will take place online, such as quizzes, news reports, and professional reports, which supplement the lectures.

Normally D3 in Business Systems & Assurance or equivalent.

ACCFIN4009

None

1. Oral assessment & presentation; Group; 10-15 minutes, 25%; ILOs 1-3, 5-7. 

2. Degree exam: in-person; Individual; 120 minutes; 75%; ILOs 1-5.

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

6. Work collaboratively in a group to produce a combined piece of coursework, by liaising with other class members, allocating tasks and co-ordinating group meetings.

7. Demonstrate effective oral communication skills.