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ACCT08029 2022 Auditing 2

General Details

Full Title
Auditing 2
Transcript Title
Auditing 2
Code
ACCT08029
Attendance
N/A %
Subject Area
ACCT - 0411 Accounting & Taxation
Department
BUS - Business
Level
08 - Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
€
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Kerry Dolan, Aileen Brennan, Maria Scanlon
Programme Membership
SG_BACCO_H08 202200 Bachelor of Arts (Honours) in Accounting SG_BACCO_K08 202200 Bachelor of Business (Honours) in Business with Accounting (Add-on) SG_BACOO_H08 202300 Bachelor of Arts (Honours) in Accounting SG_BACCO_K08 202300 Bachelor of Business (Honours) in Business with Accounting
Description

This module aims to develop students' understanding of modern auditing procedures and audit completion procedures and evaluate audit evidence to form an appropriate audit opinion.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Explain the requirements of external auditors to collect sufficient, appropriate audit evidence

2.

Determine appropriate audit procedures to apply to individual financial statement balances, including property, plant and equipment, inventory, receivables, payables and bank

3.

Discuss the use of IT tools and techniques to assist the audit process

4.

Conduct audit completion procedures including subsequent events, going concern, and agreeing on audit adjustments at the conclusion of the audit

5.

Evaluate the appropriateness of various audit opinions in accordance with legal and best practice requirements.

Teaching and Learning Strategies

The module will be delivered through a combination of lectures and practical tutorials. There will be an emphasis on the application of knowledge in a variety of practical, case-based scenarios.

Module Assessment Strategies

This subject will be assessed through a continuous assessment during the term and a final written exam. The final written exam will be supervised in person or via online proctoring.

Repeat Assessments

Repeat assessments may include a repeat continuous assessment and/or a final written exam supervised in person or via online proctoring.

Module Dependencies

Prerequisites
ACCT08028 201600 Auditing 1

Indicative Syllabus

LO1: Explain the requirements of external auditors to collect sufficient, appropriate audit evidence

  • Sufficient, appropriate audit evidence
  • Financial statement assertions
  • Audit procedures
  • Audit sampling

 

LO2: Determine appropriate audit procedures to individual financial statement balances, including property, plant and equipment, inventory, receivables, payables and bank.

  • Application of audit procedures to the areas including property, plant and equipment, inventory, receivables, payables, and bank
  • Audit of accounting estimates

 

LO3: Discuss the use of IT tools and techniques to assist the audit process.

  • Understand a company’s IT environment
  • Assessing and testing IT controls
  • Implications of big data on the audit and the use of modern IT tools and techniques to gather audit evidence (e.g., data analytics, blockchain etc.)

 

LO4: Conduct audit completion procedures including post-balance sheet events, going concern and agreeing on audit adjustments at the conclusion of the audit

  • Subsequent events
  • Going concern
  • Evaluation of potential misstatement
  • Management representations
  • Management letter (Letter of Weakness)
  • Audit finalisation and final review

 

LO5: Evaluate the appropriateness of various audit opinions in accordance with legal and best practice requirements.

  • Developing an audit opinion
  • Audit reports including modified audit reports
  • Extended auditor's report

 

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
20 %
End of Semester / Year Formal Exam
80 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 In class test / case study Coursework Assessment Assessment 20 % Week 9 1,2
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Written test Final Exam UNKNOWN 80 % End of Term 1,2,3,4,5
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Lecture Theatre Lecture 4 Weekly 4.00
Independent Learning UNKNOWN Personal study 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Required Reading
2018 External Auditing and Assurance
ISBN 1912350033 ISBN-13 9781912350032
Required Reading
2014-03-03 Principles of External Auditing John Wiley & Sons
ISBN 0470974451 ISBN-13 9780470974452

Principles of External Auditing has become established as one of the leading textbooks for students studying auditing. Striking a careful balance between theory and practice, the book describes and explains, in non-technical language, the nature of the audit function and the principles of the audit process. The book covers international auditing and accounting standards and relevant statute and case law. It explains the fundamental concepts of auditing and takes the reader through the various stages of the audit process. It also discusses topical aspects of auditing such as legal liability, audit risk, quality control, and the impact of information technology. Brenda Porter is currently visiting Professor at Exeter University and Chulalongkorn University, Bangkok.

Required Reading
2021 AUDIT AND ASSURANCE - STUDY TEXT.
ISBN 1787408647 ISBN-13 9781787408647

Module Resources

Non ISBN Literary Resources

 

Journal Resources
URL Resources

International Standards on Auditing (Ireland) : https://www.iaasa.ie/Publications/Auditing-standards

International Financial Reporting Standards (IFRS / IAS)

Journal articles, professional and regulatory reports as advised by lecturer