Module Details

Module Code: ACCT7006
Title: Auditing -Substantive & Report
Long Title: Auditing -Substantive & Report
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: 1 programme(s)
Module Description: This module introduces accounting students to core auditing topics including systems auditing,substantive testing as well as audit finalisation and audit reports.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Describe the approach to systems auditing as well as controls and compliance testing.
LO2 Discuss the use of substantive testing as applied to all areas of the statement of financial position.
LO3 Analyse the responsibilities of auditors in relation to contingencies,subsequent events,going concern and not-for-profit organisations.
LO4 Discuss the approach to audit finalisation.
LO5 Describe the process for appropriate wording and issuing of audit report.
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
Systems Audit
Stages of the systems audit. Evaluation of the weaknesses and tests of control/compliance tests.
Tests of transactions and balances
Substantive testing. Detailed testing of statement of financial position and statement of profit and loss.
Other audit reponsibilities
Fraud & error. Compliance with Law & regulations. Subsequent events and contingencies. Going concern and not-for-profit organisations.
Audit Finalisation
Overall review of financial statements. Quality control assessment. Error evaluation and adjustment.
Audit Reports
The concept of true and fair view. Unqualified v qualified , fundamental uncertainties. Qualifications and circumstances.
Module Content & Assessment
Assessment Breakdown%
Coursework30.00%
End of Module Formal Examination70.00%

Assessments

Coursework
Assessment Type Written Report % of Total Mark 30
Timing Week 7 Learning Outcomes 1,2
Assessment Description
Audit related report on aspects of the statement of financial position.
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
  • BPP 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 7 Group Elective 1