Undergraduate Course: Audit Practice (ACCN10005)
||College||College of Humanities and Social Science
|Credit level (Normal year taken)||SCQF Level 10 (Year 4 Undergraduate)
||Availability||Available to all students
|Summary||Practical implications of auditing concepts. Audit evidence linking audit theory, auditing standards, analytical review, systems audit, transactions audit, year end audit, statistical sampling, materiality and fraud detection.
The objective of this option is to examine how topical issues in auditing are being addressed by academics, standard setters and practitioners. It examines the wider role of auditing in governance, in the investment process and in society. The course is issues-based. The course is ideal for students intending to train with an audit firm but a good understanding of the issues covered is also relevant to management in both the public and private sectors. The session speakers and leaders are from both the academic and practitioner communities.
Business Risk Auditing
Auditor Independence: Tenders and the EU
The Audit of Charities
Auditing Groups and International Auditing Regulations
Student Learning Experience
The course consists of ten two hour sessions in the second semester. The sessions will combine lecturing and discussion for which the class may be divided into groups.
The syllabus is designed to introduce students to the key issues that surround auditing in practice. Lectures cover both
selected research and practical issues that help to inform students of the complexities and uncertainties of the subject.
Students are expected to undertake additional self-study using recommended reading material. This will allow students to reinforce and expand on material given in the sessions.
A feature of the course is its contribution from audit practitioners. Students will have the opportunity to hear about the practice of audit in various organisations. Students are encouraged to discuss the profession with the guest speakers.
Entry Requirements (not applicable to Visiting Students)
|| Students MUST have passed:
||Other requirements|| None
Information for Visiting Students
|Pre-requisites||A pass in Auditing (ACCN10009) equivalent.
Visiting students should have at least 3 Business/Accountancy related courses at grade B or above (or be predicted to obtain this). We will only consider University/College level courses.
|High Demand Course?
Course Delivery Information
|Academic year 2017/18, Available to all students (SV1)
|Learning and Teaching activities (Further Info)
Lecture Hours 20,
Summative Assessment Hours 3,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|Additional Information (Assessment)
||Degree Examination - 70%
Group Presentation - 10%
Individual Essay (up to 2500 words) - 20%
||Generic feedback on your coursework, together with individual marks, will be available on Learn 15 working days from the submission date. You can also look at your feedback at the Business School Undergraduate Reception (outside Room 1.11, Business School, 29 Buccleuch Place) and take away a copy of the feedback form, but you will not be able to take away the original piece of coursework, as it may be required by the Board of Examiners.
Your examination marks will be posted on Learn (together with generic feedback and examination statistics) as soon as possible after the Boards of Examiners¿ meeting (normally early-mid June). During the summer months (i.e. mid/end June ¿ end August), you may come to the Business School Undergraduate Reception (outside Room 1.11, Business School, 29 Buccleuch Place) to look at your examination scripts. Note that you will not be able to remove any examination scripts from the UG Office as they may be required by the Board of Examiners.
||Hours & Minutes
|Main Exam Diet S2 (April/May)||2:00|
On completion of this course, the student will be able to:
- Critically discuss the issues and judgements associated with audit practice.
- Understand and critically discuss the risks and limits associated with audit practice.
- Apply contemporary developments in audit practice.
- Identify shortcomings as well as strengths and weakness in current audit practices.
|A recommended reading list will be given for each session at the start of the course, and additional reading will be handed out at the weekly sessions as appropriate.|
The Audit Process by Gray and Manson, the textbook used in the third year auditing module can be useful as a basic revision tool. Principles of External Auditing (fourth edition) by Porter, Simon and Hatherly, is an alternative one with more extensive referencing.
|Graduate Attributes and Skills
||Enable students to make an active contribution to the future evolution of the accounting profession.
Develop creative solutions to problems of information provision and communication and in respect of a variety of decision scenarios.
This course should assist students in becoming effective and efficient from an early stage in their subsequent postgraduate careers.
|Course organiser||Prof David Hatherly
Tel: (0131 6)50 3789
|Course secretary||Miss Jen Wood
Tel: (0131 6)50 8335