AC5005: Audit in Context

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Please note this module descriptor is indicative of the structure of this course and may be subject to change.

AC5005: Audit in Context

Module Title Audit in Context
Module Code AC5005
Module Tutor Zoe New
School Business School
CAT Points 15
Level of Study 5
Brief Description

This module is designed to introduce students to the nature, purpose, scope and social role of audit and review.

Indicative Syllabus

The module will examine the development, nature and purpose of statutory external audit (both public and private sector), and its regulatory context. It will consider the social role of audit, in the context of the auditing environment post-Enron and the financial crisis. It will cover the differences between external and internal audit and other types of review. It will discuss professional ethics and current developments within the auditing profession. It will describe the stages of a typical audit, and discuss the format and content of possible audit reports.

Learning Outcomes

A student passing this module should be able to: 1. understand and explain the nature, purpose and scope of external and internal audit, and differentiate between them; (PLO2) 2. evaluate the role of external audit in the context of its regulatory and ethical framework; (PLO1) 3. discuss the regulatory framework for audit in the public; (PLO1) 4. assess the need for a code of professional ethics for auditors; (PLO4) 5. describe the stages of an audit, simple audit tests for a range of account balances and transactions; and the format and content of the audit report ; (PLO2) 6. discuss and evaluate recent developments in auditing, and use this understanding to assess the need for further change in the future; (PLO5) 7. communicate an understanding of the concepts underpinning audit both orally and in writing, finding sources data to construct and support arguments and referencing these appropriately. (PLO6, PLO8)

Learning and Teaching Activities Scheduled Contact Hours: 30
Independent Learning Hours: 120
Assessment (For further details see the Module Guide) 001: 50% Coursework: Individual, standard written: 2000 words or equivalent
002: 50% Written Exam: End of module, unseen, closed book: 2.00 hours
Special Assessment Requirements
Indicative Resources The current reading list can be found in the Module Guide, which your lecturer should make available via Moodle.

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