ACC597 Advanced Audit & Assurance CPA (8)
CSU Discipline Area: Accounting (ACCOU)
Duration: One session
Abstract:
The focus of this subject is the independent external audit of financial statements with particular reference to Australian Auditing Standards within the context of an audit risk model. Auditors’ duties and responsibilities are considered before moving to planning the audit, performing the audit and arriving at an audit opinion. Students will learn techniques to assess risk, mitigate risk and how to gather and evaluate audit evidence. This subject will also briefly cover internal auditing, performance auditing and auditing in the public sector.
+ Subject Availability Modes and Locations
| Session 1 | |
|---|---|
| Internal | CSU Study Centre Melbourne |
| Internal | CSU Study Centre Sydney |
| Distance | Wagga Wagga |
Continuing students should consult the SAL for current offering details: ACC597
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Available only to students enrolled in the Master of Professional Accounting (CPA) or the Master of Accounting Practice. Enrolment in this subject is further restricted to those students concurrently enrolled in the CPA Program professional level segment Advanced Audit and Assurance.
Objectives:
Upon successful completion of this subject, students should:
- be able to explain the audit and assurance framework and the development of domestic and international auditing standards.
- be able to explain the scope of auditing and assurance services in the private and public sectors.
- be able to engage, plan, conduct and report on an audit.
- be able to gather, document and interpret evidence in the audit of financial statements.
- be able to explain the nature and extent of risks involved in a financial statement audit, and how to mitigate risk.
- be able to interpret the different types of audit opinions and be able to communicate audit results to governance and stakeholder groups.
- be able to explain the purpose and practice of performance audits.
- be able to critically evaluate audit and assurance opportunities in emerging contexts, such as social responsibility audits.
- be able to apply a professional code of ethics in performing all audit and assurance services.
Syllabus:
The subject will cover the following topics:
- The audit and assurance framework.
- Auditing standards
- Audit objectives and audit responsibilities
- Audit risk assessment
- Mitigating audit risk
- Audit opinions and audit reports
- The financial statement audit process
- The auditor and fraud detection
- The going concern assumption
- Performance audits
- Internal and other audits
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.