ACG510 Risk Based Auditing (8)

This subject adopts a risk-based approach to auditing and assurance services, exploring the practice and theory of auditing and forensic investigation.   The expanding role of auditing to financial and nonfinancial reporting provides an opportunity for students to appreciate the changing role of the auditor and societal expectation of ethics and good governance in the role of auditing. The concept of risk management is emphasised as it permeates all functions of management, audit and corporate governance.

No offerings have been identified for this subject in 2021.

Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System



One session


School of Accounting and Finance

Enrolment Restrictions

Postgraduate students only and not available to students who have completed ACC568


ACG508 and ACG511

Subject Relationships

ACC568 Overlapping Content

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to explain and critically evaluate influences on audit and assurance services including: Australian and international professional standards, statutory and common laws, regulatory bodies, and public expectations within a global market;
  • be able to identify and critically evaluate the expanding scope of assurance services and providers in today's international business environment including nonfinancial reporting;
  • be able to apply risk management methodologies and identify the role of IT and internal controls in an audit context;
  • be able to design an audit plan and select and apply appropriate audit procedures for a financial statement audit;
  • be able discuss the role of the audit professional in diverse audit teams involved in assurance of sustainability and other nonfinancial reports; and
  • be able to exercise critical and reflective judgement and appreciate the value of ethical practice.


This subject will cover the following topics:
  • Audit process
  • Ethics & governance
  • Risk
  • CSR audits
  • IT and contemporary audit tools

The information contained in the CSU Handbook was accurate at the date of publication: May 2021. The University reserves the right to vary the information at any time without notice.