Module Details

Module Code: ACCT7005
Title: Auditing -Regulation & Control
Long Title: Auditing -Regulation & Control
NFQ Level: Intermediate
Valid From: Semester 1 - 2016/17 ( September 2016 )
Duration: 1 Semester
Credits: 5
Field of Study: 3440 - Accounting, Auditing and Accountability
Module Delivered in: 2 programme(s)
Module Description: This module will provide accounting students with an understanding of the nature and purpose of an audit and the role of the auditor, as well as an appreciation of the legal framework,auditing standards and ethical procedures relevant to the auditor
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Describe the audit process and the rights, duties and ethical considerations of auditors.
LO2 Discuss the audit planning and risk assessment process carried out by an auditor.
LO3 Explore the importance and sources of audit evidence.
LO4 Recommend techniques for strengthening internal controls that are deficient in a company.
LO5 Evaluate the use of Computer Assisted Audit Techniques in an auditing environment.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
11324 ACCT7005 Auditing -Regulation & Control
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
No requirements listed
 
Indicative Content
Audit Process
Introduction,historical development,fundamental concepts,regulatory framework, recent cases of audit failure.
Auditor personally
Rights and duties and ethical consideration. Appointment,resignation and dismissal of the auditor. Acceptance and retention of engagements.
Audit risk and Internal controls
Distinguishing between Audit Risk and other business risk. Advising about and recommending improvements in internal control
Audit evidence,working papers and audit files
Evaluation of reliability by type. Use of internal audit and experts. Need for working papers.
Computers and their use in Audit Environment
Introduction to CAATs (Computer Assisted Audit Techniques)
Module Content & Assessment
Assessment Breakdown%
Coursework30.00%
End of Module Formal Examination70.00%

Assessments

Coursework
Assessment Type Short Answer Questions % of Total Mark 30
Timing Week 8 Learning Outcomes 1,2,4
Assessment Description
Assessment based on ethics,planning,risks and internal controls.
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,3,4,5
Assessment Description
End-of-Semester Final Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Lecture and demonstration to group Every Week 3.00 3
Independent & Directed Learning (Non-contact) Non Contact Review of material and practical work Every Week 4.00 4
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Lecture and demonstration to group Every Week 1.50 1.5
Independent & Directed Learning (Non-contact) Non Contact Review of material and practical work Every Week 5.50 5.5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 1.50
 
Module Resources
Recommended Book Resources
  • BBP Learning Media. (2015), ACCA Paper F8 Audit and Assurance, 8th. BBP, [ISBN: 9781472726773].
Supplementary Book Resources
  • Martin Nolan & Christine Nangle. (2013), External Auditing and Assurance - An Irish Textbook, 2nd. Chartered Accountants, Dublin, [ISBN: 9781908199461].
This module does not have any article/paper resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 5 Elective
CR_BACCT_7 Bachelor of Business in Accounting 5 Elective