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ACCT3151: Audit and Assurance

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Type Tied
Level 3
Credits 20
Availability Available in 2024/2025
Module Cap None.
Location Durham
Department Accounting

Prerequisites

  • ACCT2111 Assurance

Corequisites

  • None

Excluded Combinations of Modules

  • ACCT2061 Audit and Assurance

Aims

  • To develop students' understanding of the critical aspects of managing an assurance engagement (including audit engagements): acceptance, planning, managing, concluding, and reporting. All of this is set within the context of professional ethics.

Content

  • Audit framework and regulation
  • Planning and risk assessment
  • Internal control
  • Audit evidence
  • Reviewing and reporting

Learning Outcomes

Subject-specific Knowledge:

  • By the end of the module students should be able to:
  • Understand the regulatory, professional, and ethical issues relevant to those carrying out an assurance engagement.
  • Understand the processes involved in accepting and managing assurance engagements.
  • Understand how quality assurance processess mitigate risks.

Subject-specific Skills:

  • By the end of the module students should be able to:
  • Advise on the regulatory, professional, and ethical issues relevant to those carrying out an assurance engagement.
  • Plan assurance engagements in accordance with the terms of the engagements and appropriate auditing and assurance standards.
  • Conclude and report on assurance engagements in accordance with the terms of the engagement and appropriate standards.

Key Skills:

  • Written communication
  • Planning and organisation
  • Time management
  • Problem solving

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Learning will be based on knowledge transfer from workshops and independent study.
  • Formative assessment will consist of a number of practice tests.
  • Summative assessment will consist of a 2.5 hour written timed invigilated examination and a 2500 word written assignment.

Teaching Methods and Learning Hours

ActivityNumberFrequencyDurationTotalMonitored
Workshops202 per week2 hours40Yes
Preparation, Reading and Independent Study160 
Total200 

Summative Assessment

Component: ExaminationComponent Weighting: 70%
ElementLength / DurationElement WeightingResit Opportunity
In-person Written Examination2.5 hours100 
Component: AssignmentComponent Weighting: 30%
ElementLength / DurationElement WeightingResit Opportunity
Individual Written Assignment2500 words max100 

Formative Assessment

Practice tests

More information

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