Also refer to the MCom + MIB Student Guide

Description

This is an advanced unit in auditing and assurance services which examines the process of auditing and the concepts which underlay the practice. Although the focus of attention is on audits of financial reports undertaken in compliance with Corporations Act 2001, reference is also made to other forms of audit and assurance. The course is intended to provide an overview of the audit process as it exists in Australia, and is consistent with International Auditing Standards. The course enhances student's proficiency by requiring the application of techniques and the use of analytical and communication skills, in discussing and completing case studies developed from practice.

Topics

• Introduction to the audit and assurance framework and function
• Audit planning including risk analysis
• Internal control evaluation and the role of mitigating controls
• Audit evidence and analytical review techniques
• Audit approach and materiality
• Utilisation of experts on the audit and internal auditing
• Auditing in an IT environment
• Post balance date events and their impact on the audit
  
• Audit reporting
• Legal liability and ethics
• Current Issues