MN30468: Auditing & accountability
[Page last updated: 23 August 2022]
| Academic Year: | 2022/23 |
| Owning Department/School: | School of Management |
| Credits: | 6 [equivalent to 12 CATS credits] |
| Notional Study Hours: | 120 |
| Level: | Honours (FHEQ level 6) |
| Period: |
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| Assessment Summary: | EX 100% |
| Assessment Detail: |
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| Supplementary Assessment: |
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| Requisites: | Before taking this module you must take MN20018 OR take MN20485 |
| Learning Outcomes: | On completing this unit students will be able to demonstrate:
1. knowledge of the historical development of auditing theory and practices, and alternative (non-financial) perspectives on corporate accountability; 2. understanding of the legal, regulatory and professional environment within which auditing and assurance operate; 3. appreciation of audit techniques, judgment and practical skills to be applied in financial statement auditing; 4. awareness of current professional developments that affect the practice of auditing, both in the UK and internationally; 5. the ability to select and present relevant information relating to audit and assurance issues in a business environment; 6. a critical understanding of the roles and limitations of audit and assurance in contributing to accountability. |
| Aims: | The unit aims to develop an understanding of audit processes and the role of independent auditors in the business environment. |
| Skills: | Understanding of auditing principles and skills
The fostering of interest in the accountability of public interest entities |
| Content: | * History, scope and purposes of auditing; the meaning of accountability, different types of audit and assurance * Theory of audit pricing, empirical evidence, and implications for the audit process: balancing the costs and benefits of reducing audit risk * Concepts and postulates of auditing; the audit expectations gap; independence, non-audit services and evidence from audit pricing research * Elements of auditing: risk assessment, audit objectives, evidence, planning, documentation and reporting * Designing evaluation of internal control and substantive procedures * Regulatory (and governance) environment for auditing * The roles of internal control and internal auditing, evaluation of internal control * Social and environmental assurance. |
| Programme availability: |
MN30468 is Optional on the following programmes:School of Management
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