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DRPS : Course Catalogue : Business School : Accounting

Undergraduate Course: Auditing (ACCN10009)

Course Outline
SchoolBusiness School CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 10 (Year 3 Undergraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryThe main objective of the course is to enable students to form an understanding of the principles underlying the theory of auditing, of the regulatory framework of auditing and of practical audit approaches and techniques. The latter will be taught with reference to case studies. Students will also be introduced to the critique of the auditing profession and the profession's response. The course further aims to expose students to current academic research in the field of auditing and to enhance their generic and transferable skills.
Course description Syllabus
Why are Auditors Needed?
Auditing Concepts
Auditor Independence and Ethics
The Risk Based Approach to Audit
Auditing Controls
Substantive testing
Completion Procedures and Final Review
Fraud and Going Concern
Audit Reporting and the Expectations Gap
Issues in Auditing

Student Learning Experience
The course will be taught via a mixture of lectures, discussions and activities
each week. Individual and group participation is expected in activities and class discussions.
Students are expected to undertake additional self-study using the textbooks by reading at least the recommended sections and other suggested references. This will allow students to reinforce and expand on material introduced in the lectures.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed: Accountancy 2A (ACCN08009) AND Accountancy 2B (ACCN08010)
Prohibited Combinations Other requirements None
Information for Visiting Students
Pre-requisitesVisiting students must have at least 4 Accountancy courses at grade B or above. This course cannot be taken alongside 'Accountancy 2A'; 'Accountancy 2B'; 'Accountancy 1A' or 'Accountancy 1B'. We will only consider University/College level courses.
High Demand Course? Yes
Course Delivery Information
Academic year 2022/23, Available to all students (SV1) Quota:  None
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 20, Summative Assessment Hours 3, Revision Session Hours 2, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 171 )
Assessment (Further Info) Written Exam 70 %, Coursework 30 %, Practical Exam 0 %
Additional Information (Assessment) Examination - 70%
Individual Assignment (1,500 words) - 30%
Feedback Generic feedback on your coursework, together with individual marks, will be available on Learn 15 working days from the submission date.

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).
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S1 (December)3:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. Demonstrate awareness and understanding of the audit function in a contemporary business context
  2. Apply knowledge and skills to procedures that auditors undertake in a standard external engagement for year end financial reporting.
  3. Understand and critically discuss topical issues in auditing
Reading List
The core textbook for this course is:
The Audit Process: Principles, Practice and cases 7th Edition (2019) Iain Gray and Stuart Manson

Another very important resource is the Auditing Practices Board and the Financial Reporting Council:

Useful articles on auditing can be found in the following journals:
Accounting, Organizations and Society
Accounting, Auditing and Accountability Journal
Critical Perspectives on Accounting
Accounting and Business Research
British Accounting Review

Students are strongly encouraged to read current issues of Accountancy, the ICAEW's magazine:

Further reading beyond the core textbook is expected in preparation for class and assignments. Recommended readings are given for each week of the course.
Additional Information
Graduate Attributes and Skills Intellectual Skills
Upon completing this course students will be able to:
- Explain the meaning of the social purpose of auditing and key concepts of auditing;
- Discuss the duties and responsibilities of auditors with respect to the law, society and the auditor's clients;
- Evaluate the underlying concepts and theories used in auditing;
- Evaluate the content and effectiveness of the Audit Report.

Subject Specific Skills
The course will develop the following subject-specific skills:
- Be able to build up audit programmes and procedures appropriate for individual case studies based on audit risk;
- Be able to explain and critically evaluate audit procedures from the viewpoint of the profession and wider society
Course organiserDr Eleni Chatzivgeri
Tel: (0131 6)50 8074
Course secretaryMiss Jen Wood
Tel: (0131 6)50 8335
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