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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 Outline Content

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 2024/25, 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) 70% Written Exam (Individual) -3 hours - Assesses course Learning Outcomes 1,2,3

30% Presentation (Group) - 10 Minutes - Assesses course Learning Outcomes 1,2
Feedback Formative: Feedback will be provided throughout the course.

Summative: Feedback will be provided on the assessments within agreed deadlines.
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 Communication, ICT, and Numeracy Skills

After completing this course, students should be able to:

Critically evaluate and present digital and other sources, research methods, data and information; discern their limitations, accuracy, validity, reliability and suitability; and apply responsibly in a wide variety of organisational contexts.

Practice: Applied Knowledge, Skills and Understanding

After completing this course, students should be able to:

Apply creative, innovative, entrepreneurial, sustainable and responsible business solutions to address social, economic and environmental global challenges.

Knowledge and Understanding

After completing this course, students should be able to:

Demonstrate a thorough knowledge and understanding of contemporary organisational disciplines; comprehend the role of business within the contemporary world; and critically evaluate and synthesise primary
and secondary research and sources of evidence in order to make, and present, well informed and transparent organisation-related decisions, which have a positive global impact.

Identify, define and analyse theoretical and applied business and management problems, and develop approaches, informed by an understanding of appropriate quantitative and/or qualitative techniques, to explore and solve them responsibly.

Course organiserDr Eleni Chatzivgeri
Tel: (0131 6)50 8074
Course secretaryMiss Jen Wood
Tel: (0131 6)50 8335
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