James Cook University Subject Handbook - 2022

BX3014 - Auditing and Assurance

Subject Description

This subject examines the underlying concepts and practice of auditing, the collection and evaluation of audit evidence and the audit reporting process. It develops an understanding of the legal environment in which the auditor works and focuses on the requirements of financial statement audit under relevant legislations. Students are exposed to the techniques used by auditors in carrying out audit procedures and evaluating audit evidence. Both CIS and computer-assisted audit techniques are an integral part of this subject. This subject critically analyses contemporary audit issues, recent audit headlines and challenges faced by the audit profession in the Australian and global environment.

Learning Outcomes

• evaluate and apply tests of internal control and substantive tests
• describe and evaluate the rights, duties and legal and ethical responsibilities of an auditor
• analyse organisational risk factors and the internal control environment for the preparation of audit plans and programs
• analyse and prepare audit reports that provide an appropriate view of a company's financial statements

Subject Assessment

• Written > Examination (centrally administered) - (60%) - Individual
• Oral > Presentation 1 - (30%) - Individual
• Written > Abstract - (10%) - Individual

Note that minor variations might occur due to the continuous subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.

Assumed Knowledge:  RECOMMENDED (BU2112 OR BX2112 OR CO2502 OR LA3015 OR LA3106) AND (BX3112 OR CO3513 OR LA4023)

Inadmissible Subject Combinations:  CO3012

Availabilities