AYB301 Audit and Assurance
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYB301 |
|---|---|
| Prerequisite(s): | AYB106 or AYB150 |
| Equivalent(s): | AYX301 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,124 |
| Pre-2021 CSP student contribution | $1,663 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,204 |
| International unit fee | $4,512 |
Unit Outline: Semester 1 2025, Gardens Point, Internal
| Unit code: | AYB301 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 or AYB150 |
| Equivalent: | AYX301 |
| Coordinators: | Julie-Anne Mee | j2.mee@qut.edu.au |
Overview
Audit and Assurance is a third year unit, which is included in the degree program to enable students to comprehend the key concepts of auditing as a discipline, to demonstrate the relationship between auditing and the systems of accountability and to demonstrate the differences between manual and computerised information systems (CIS) audit processes. The unit builds on the knowledge of accounting and accounting standards acquired in prior units by enabling students to understand in detail the audit process (including professional auditing standards and techniques and ethical requirements) which leads to the auditor providing an opinion on the truth and fairness of financial reports of various types of entities.
Learning Outcomes
On successful completion of this unit you will be able to:
- Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation. [KS1.1]Relates to: UG Business Capabilities: KS (1.1)
- Apply auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process. [HO 2.1, 2.2, SE 5.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply knowledge of socially responsible behaviour and the related auditing frameworks to identify and evaluate current issues in the professional environment. [SE 5.2]
- Effectively communicate auditing knowledge and justify decisions in written and oral form. [PC 3.1, 3.2]
Content
This unit covers the regulatory and ethical frameworks within which assurance services are provided, the processes and techniques utilised by assurance service providers and other related audit and assurance issues. Students should acquire knowledge of auditing and its procedures, auditing standards and other professional pronouncements. The issues covered in auditing are techniques practised both in Australia and overseas.
The graduate capabilities this unit develops are discipline knowledge, analysis, evaluation and synthesis of theory and practice, planning, problem solving and decision making, working in a team, written communication and ethics.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Attendance at ALL classes is strongly encouraged as additional information such as emphasis and explanations will inevitably be given there.
Lectures provide theoretical coverage of audit issues, standards and auditing concepts and the application of these techniques and issues to practical auditing examples and exposure to the use of technology in auditing. This strategy exposes students to all aspects of the conduct of an audit and associated auditing issues.
Tutorials which lag behind lectures by one week further develop students understanding and comprehension of the theoretical and practical aspects of auditing. The tutorial questions aim to consolidate students' understanding of the basic auditing concepts and to develop a more in-depth knowledge and critical thinking about the issues covered in lectures and in the text.
The assignments aim to further develop student's knowledge of key concepts of ethics and audit planning, within the professional environment and apply these to practical case studies. The assignment also aims to further develop students writing and reporting skills.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Audit Ethics Report
Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Audit Project
You will apply oral and written communication skills in auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1, 3.2), SE (5.2)
The written component of this assessment item is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will examine work and concepts covered throughout the semester.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Leung, P., Coram, P., Cooper, B.J. and Richardson, P. (2019) Audit and Assurance 1st Edition John Wiley & Sons Australia Ltd ISBN 978-0-7303-6347-7
Reference book(s)
Gay, G., and Simnett, R. (2018) Auditing & Assurance Services in Australia 7th edition McGraw-Hill Education (Australia) IBSN 978-1-7604-2197-7
Additional references can also be found at the unit's Canvas site: https://Canvas.qut.edu.au/ under QUT Readings
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO2, Audit Project, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Audit Ethics Report, Audit Project
SE (5.1): Ethical and Legal Understanding
Relates to: ULO3, Audit Ethics Report
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO3, Audit Ethics Report, Audit Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Audit Project, Final Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO3, Audit Ethics Report
Unit Outline: Semester 1 2025, Online
| Unit code: | AYB301 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 or AYB150 |
| Equivalent: | AYX301 |
Overview
Audit and Assurance is a third year unit, which is included in the degree program to enable students to comprehend the key concepts of auditing as a discipline, to demonstrate the relationship between auditing and the systems of accountability and to demonstrate the differences between manual and computerised information systems (CIS) audit processes. The unit builds on the knowledge of accounting and accounting standards acquired in prior units by enabling students to understand in detail the audit process (including professional auditing standards and techniques and ethical requirements) which leads to the auditor providing an opinion on the truth and fairness of financial reports of various types of entities.
Learning Outcomes
On successful completion of this unit you will be able to:
- Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation. [KS1.1]Relates to: UG Business Capabilities: KS (1.1)
- Apply auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process. [HO 2.1, 2.2, SE 5.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply knowledge of socially responsible behaviour and the related auditing frameworks to identify and evaluate current issues in the professional environment. [SE 5.2]
- Effectively communicate auditing knowledge and justify decisions in written and oral form. [PC 3.1, 3.2]
Content
This unit covers the regulatory and ethical frameworks within which assurance services are provided, the processes and techniques utilised by assurance service providers and other related audit and assurance issues. Students should acquire knowledge of auditing and its procedures, auditing standards and other professional pronouncements. The issues covered in auditing are techniques practised both in Australia and overseas.
The graduate capabilities this unit develops are discipline knowledge, analysis, evaluation and synthesis of theory and practice, planning, problem solving and decision making, working in a team, written communication and ethics.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Attendance at ALL classes is strongly encouraged as additional information such as emphasis and explanations will inevitably be given there.
Lectures provide theoretical coverage of audit issues, standards and auditing concepts and the application of these techniques and issues to practical auditing examples and exposure to the use of technology in auditing. This strategy exposes students to all aspects of the conduct of an audit and associated auditing issues.
Tutorials which lag behind lectures by one week further develop students understanding and comprehension of the theoretical and practical aspects of auditing. The tutorial questions aim to consolidate students' understanding of the basic auditing concepts and to develop a more in-depth knowledge and critical thinking about the issues covered in lectures and in the text.
The assignments aim to further develop student's knowledge of key concepts of ethics and audit planning, within the professional environment and apply these to practical case studies. The assignment also aims to further develop students writing and reporting skills.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Audit Ethics Report
Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Audit Project
You will apply oral and written communication skills in auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1, 3.2), SE (5.2)
The written component of this assessment item is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will examine work and concepts covered throughout the semester.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Leung, P., Coram, P., Cooper, B.J. and Richardson, P. (2019) Audit and Assurance 1st Edition John Wiley & Sons Australia Ltd ISBN 978-0-7303-6347-7
Reference book(s)
Gay, G., and Simnett, R. (2018) Auditing & Assurance Services in Australia 7th edition McGraw-Hill Education (Australia) IBSN 978-1-7604-2197-7
Additional references can also be found at the unit's Canvas site: https://Canvas.qut.edu.au/ under QUT Readings
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO2, Audit Project, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Audit Ethics Report, Audit Project
SE (5.1): Ethical and Legal Understanding
Relates to: ULO3, Audit Ethics Report
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO3, Audit Ethics Report, Audit Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Audit Project, Final Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO3, Audit Ethics Report
Unit Outline: Semester 2 2025, Gardens Point, Internal
| Unit code: | AYB301 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 or AYB150 |
| Equivalent: | AYX301 |
| Coordinators: | Pamela Kent | pf.kent@qut.edu.au |
Overview
Audit and Assurance is a third year unit, which is included in the degree program to enable students to comprehend the key concepts of auditing as a discipline, to demonstrate the relationship between auditing and the systems of accountability and to demonstrate the differences between manual and computerised information systems (CIS) audit processes. The unit builds on the knowledge of accounting and accounting standards acquired in prior units by enabling students to understand in detail the audit process (including professional auditing standards and techniques and ethical requirements) which leads to the auditor providing an opinion on the truth and fairness of financial reports of various types of entities.
Learning Outcomes
On successful completion of this unit you will be able to:
- Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation. [KS1.1]Relates to: UG Business Capabilities: KS (1.1)
- Apply auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process. [HO 2.1, 2.2, SE 5.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply knowledge of socially responsible behaviour and the related auditing frameworks to identify and evaluate current issues in the professional environment. [SE 5.2]
- Effectively communicate auditing knowledge and justify decisions in written and oral form. [PC 3.1, 3.2]
Content
This unit covers the regulatory and ethical frameworks within which assurance services are provided, the processes and techniques utilised by assurance service providers and other related audit and assurance issues. Students should acquire knowledge of auditing and its procedures, auditing standards and other professional pronouncements. The issues covered in auditing are techniques practised both in Australia and overseas.
The graduate capabilities this unit develops are discipline knowledge, analysis, evaluation and synthesis of theory and practice, planning, problem solving and decision making, working in a team, written communication and ethics.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Attendance at ALL classes is strongly encouraged as additional information such as emphasis and explanations will inevitably be given there.
Lectures provide theoretical coverage of audit issues, standards and auditing concepts and the application of these techniques and issues to practical auditing examples and exposure to the use of technology in auditing. This strategy exposes students to all aspects of the conduct of an audit and associated auditing issues.
Tutorials which lag behind lectures by one week further develop students understanding and comprehension of the theoretical and practical aspects of auditing. The tutorial questions aim to consolidate students' understanding of the basic auditing concepts and to develop a more in-depth knowledge and critical thinking about the issues covered in lectures and in the text.
The assignments aim to further develop student's knowledge of key concepts of ethics and audit planning, within the professional environment and apply these to practical case studies. The assignment also aims to further develop students writing and reporting skills.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Audit Ethics Report
Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Audit Project
You will apply oral and written communication skills in auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1, 3.2), SE (5.2)
The written component of this assessment item is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will examine work and concepts covered throughout the semester.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Leung, P., Coram, P., Cooper, B.J., Redgen, K. and Canestrari-Soh, D. (2024) Audit and Assurance 2nd Edition John Wiley & Sons Australia Ltd ISBN 978-1-118-61524-9
Reference book(s)
Gay, G., and Simnett, R. (2018) Auditing & Assurance Services in Australia 7th edition McGraw-Hill Education (Australia) IBSN 978-1-7604-2197-7
Additional references can also be found at the unit's Canvas site: https://Canvas.qut.edu.au/ under QUT Readings
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO2, Audit Project, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Audit Ethics Report, Audit Project
SE (5.1): Ethical and Legal Understanding
Relates to: ULO3, Audit Ethics Report
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO3, Audit Ethics Report, Audit Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Audit Project, Final Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO3, Audit Ethics Report
Unit Outline: Semester 2 2025, Online
| Unit code: | AYB301 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 or AYB150 |
| Equivalent: | AYX301 |
Overview
Audit and Assurance is a third year unit, which is included in the degree program to enable students to comprehend the key concepts of auditing as a discipline, to demonstrate the relationship between auditing and the systems of accountability and to demonstrate the differences between manual and computerised information systems (CIS) audit processes. The unit builds on the knowledge of accounting and accounting standards acquired in prior units by enabling students to understand in detail the audit process (including professional auditing standards and techniques and ethical requirements) which leads to the auditor providing an opinion on the truth and fairness of financial reports of various types of entities.
Learning Outcomes
On successful completion of this unit you will be able to:
- Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation. [KS1.1]Relates to: UG Business Capabilities: KS (1.1)
- Apply auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process. [HO 2.1, 2.2, SE 5.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply knowledge of socially responsible behaviour and the related auditing frameworks to identify and evaluate current issues in the professional environment. [SE 5.2]
- Effectively communicate auditing knowledge and justify decisions in written and oral form. [PC 3.1, 3.2]
Content
This unit covers the regulatory and ethical frameworks within which assurance services are provided, the processes and techniques utilised by assurance service providers and other related audit and assurance issues. Students should acquire knowledge of auditing and its procedures, auditing standards and other professional pronouncements. The issues covered in auditing are techniques practised both in Australia and overseas.
The graduate capabilities this unit develops are discipline knowledge, analysis, evaluation and synthesis of theory and practice, planning, problem solving and decision making, working in a team, written communication and ethics.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Attendance at ALL classes is strongly encouraged as additional information such as emphasis and explanations will inevitably be given there.
Lectures provide theoretical coverage of audit issues, standards and auditing concepts and the application of these techniques and issues to practical auditing examples and exposure to the use of technology in auditing. This strategy exposes students to all aspects of the conduct of an audit and associated auditing issues.
Tutorials which lag behind lectures by one week further develop students understanding and comprehension of the theoretical and practical aspects of auditing. The tutorial questions aim to consolidate students' understanding of the basic auditing concepts and to develop a more in-depth knowledge and critical thinking about the issues covered in lectures and in the text.
The assignments aim to further develop student's knowledge of key concepts of ethics and audit planning, within the professional environment and apply these to practical case studies. The assignment also aims to further develop students writing and reporting skills.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Audit Ethics Report
Discuss the nature and purpose of auditing and assurance services and the impacts of regulatory and professional requirements on these services, including audit litigation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Audit Project
You will apply oral and written communication skills in auditing and ethical concepts, standards, techniques and theory to critically analyse, evaluate, synthesise, problem solve and make decisions on practical issues and situations within the auditing process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1, 3.2), SE (5.2)
The written component of this assessment item is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will examine work and concepts covered throughout the semester.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Leung, P., Coram, P., Cooper, B.J., Redgen, K. and Canestrari-Soh, D. (2024) Audit and Assurance 2nd Edition John Wiley & Sons Australia Ltd ISBN 978-1-118-61524-9
Reference book(s)
Gay, G., and Simnett, R. (2018) Auditing & Assurance Services in Australia 7th edition McGraw-Hill Education (Australia) IBSN 978-1-7604-2197-7
Additional references can also be found at the unit's Canvas site: https://Canvas.qut.edu.au/ under QUT Readings
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO2, Audit Project, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Audit Ethics Report, Audit Project
SE (5.1): Ethical and Legal Understanding
Relates to: ULO3, Audit Ethics Report
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO3, Audit Ethics Report, Audit Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Audit Project, Final Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Audit Ethics Report, Audit Project - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO3, Audit Ethics Report