Course Details in 2023/24 Session

Module Title	LI Audit
School	Birmingham Business School
Department	Accounting
Module Code	07 31813
Module Lead	Steve Keepax
Level	Intermediate Level
Credits	20
Semester	Semester 2
Pre-requisites
Co-requisites
Restrictions	None
Contact Hours	Lecture-40 hours Seminar-16 hours Practical Classes and workshops-4 hours Guided independent study-140 hours Total: 200 hours
Exclusions
Description	This module introduces students to the theory and practice of auditing. The module introduces the conceptual framework of audit and relates it to real life examples. The following topics are examined: the regulation of audit, authority to audit and the role of the professions; ethics and independence; auditor's duty and the expectation gap; international auditing standards; the nature of evidence and its application to assertions including the assessment of evidence and audit judgements; the techniques of audit, the distinctions between internal and external audit audit process and audit risk, internal control; contemporary business issues and its impact on external audit; the auditors' report and the true and fair view.
Learning Outcomes	by the end of the module. students should be able to: Demonstrate a critical awareness of the role and responsibilities of an auditor. Demonstrate knowledge of the underlying conceptual frameworks of an audit and related ethical and regulatory issues. Identify and evaluate the techniques of auditing and the processes of audit. Explain the nature of audit evidence, demonstrate how it is established and evaluate how auditors reach conclusions and judgements. Contrast the theoretical basis of an audit with the practicalities of delivering an external audit in a contemporary, commercial environment. Critically analyse the external audit process and evaluate the effectiveness of an auditors report.
Assessment	31813-01 : Class test : Class Test (50%) 31813-02 : Exam : Exam (Centrally Timetabled) - Written Unseen (50%)
Assessment Methods & Exceptions	Assessment: 2 hour written examination (50%); 2 hour class test based on early lecture material (50%) Reassessment: Reassessment by component
Other
Reading List