Postgraduate Course: Principles of Auditing and Reporting (CMSE11375)
||College||College of Arts, Humanities and Social Sciences
|Credit level (Normal year taken)||SCQF Level 11 (Postgraduate)
|Course type||Online Distance Learning
||Availability||Not available to visiting students
|Summary||The main objective of this course is to enable students to form an understanding of the role and impact of financial audit. Students will be introduced to the nature of, and need for, third party assurance and the role and responsibilities of the external auditor. The key principles of the International Standards on Auditing will be examined and students will be able to describe and apply the principles of collecting and assessing audit evidence.
Auditing is a professional process designed to assure investors that high quality financial reporting information has been produced by an entity. This course introduces students to the principles and techniques of the audit process and offers insight into the role that auditing has in society.
Upon successful completion of this course students will be able to explain the need for nature of third party assurance, the audit process and the role and responsibilities of the external auditor. In addition students will be able to describe the regulatory framework for both financial reporting and auditing and interpret the key principles of international auditing standards of and the profession┐s ethical standards. Students should be able to apply the principles of audit to collecting and assessing audit evidence. The course further aims to expose students to current academic research in the field of auditing and to enhance their generic and transferable skills.
Entry Requirements (not applicable to Visiting Students)
||Other requirements|| None
Course Delivery Information
|Not being delivered|
On completion of this course, the student will be able to:
- Demonstrate knowledge that covers and integrates most of the principal areas of auditing techniques and social impact, including ethics, professional audit judgement and the audit expectations gap.
- Use a range of the principal skills and practices associated with auditing.
- Practise audit approaches and judgement in a range of contexts that include a degree of unpredictability via case study scenarios.
- Critically identify, define, conceptualise and analyse professional level problems and issues, especially over independence.
|Core textbook: The Audit Process: Principles, Practice and Cases 6th Edition (2015) Iain Gray, Stuart Manson and Louise Crawford. ISBN: 978-140881-709|
Another important resource is the Auditing Practices Board and the Financial Reporting Council: www.frc.org.uk
Details of additional readings will be given in the weekly study plan released on Blackboard Learn.
|Graduate Attributes and Skills
||- Identify and analyse routine auditing problems and suggest appropriate audit responses.
- Interpret, use and evaluate numerical and narrative data to achieve confidence in arriving at an audit approach.
- Seeking guidance where appropriate, to manage ethical and professional issues in audit in line with professional regulation and codes.
- Exercise autonomy and initiative in some activities at a professional level in auditing, particularly with regard to the appropriate application of auditing techniques.
- Practise audit team work in ways that show awareness of own and others┐ roles and responsibilities.
|Course organiser||Dr Elisa Henderson
|Course secretary||Mrs Kelly-Ann De Wet
Tel: (0131 6)50 8071