AC6005: Advanced Audit

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

AC6005: Advanced Audit

Module Title Advanced Audit
Module Code AC6005
Module Tutor Dean Williams
School Business School
CAT Points 15
Level of Study 6
Brief Description

This module will build on AC0505 to develop students' understanding of the nature, purpose, scope and regulatory environment of the statutory audit and other assurance type engagements.

Indicative Syllabus

The module will explore further the ethical and regulatory framework for audit and assurance, and cover the main practical elements of assurance engagements including planning and risk assessment, evaluation of internal controls, gathering audit evidence, reviewing the financial statements, and reporting.

Learning Outcomes

A student passing this module should be able to: 

  1. Explain the nature, purpose and scope of external audit, including its regulatory and ethical framework; (PLO1)
  2. Describe the nature and role of internal audit and its relationship with the external audit; (PLO1)
  3. Discuss and evaluate the role played by audit in achieving good corporate governance; (PLO4)
  4. Demonstrate how and why the auditor obtains an understanding of the entity and its environment, assesses the risk of material misstatement and plans an audit of financial statements; (PLO2)
  5. Evaluate information systems and internal controls to identify and communicate control risks; (PLO3)ppreciate and discuss the need for auditors to communicate their findings to those charged with governance, evaluate the different types of audit report and discuss the circumstances in which each is appropriate.(PLO5)
Learning and Teaching Activities Scheduled Contact Hours: 30
Independent Learning Hours: 120
Assessment (For further details see the Module Guide) 001: 100% Written Exam: End of year, unseen, closed book: 3.00 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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