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MN30468: Auditing & accountability

[Page last updated: 05 August 2021]

Academic Year: 2021/2
Owning Department/School: School of Management
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Honours (FHEQ level 6)
Semester 2
Assessment Summary: EX 100%
Assessment Detail:
  • Examination (EX 100% - Qualifying Mark: 35)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites: Before taking this module you must take MN20018 OR take MN20485
Description: Aims:
The unit aims to develop an understanding of audit processes and the role of independent auditors in the business environment.

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.

Understanding of auditing principles and skills
The fostering of interest in the accountability of public interest entities


* 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
  • UMMN-AFB02 : BSc(Hons) Accounting and Finance (Year 3)
  • UMMN-AKB02 : BSc(Hons) Accounting and Finance with Year long work placement (Year 4)
  • UMMN-ANB01 : BSc(Hons) Business Administration with Thin sandwich placement(s) (Year 4)
  • UMMN-AYB06 : BSc(Hons) International Management with Year Abroad (Year 4)
  • UMMN-AFB04 : BSc(Hons) Management (Year 3)
  • UMMN-AKB04 : BSc(Hons) Management with Year long work placement (Year 4)
  • UMMN-AKB05 : BSc(Hons) Management with Marketing with Year long work placement (Year 4)
Department of Politics, Languages and International Studies
  • UXXX-AYB05 : BSc(Hons) International Management and Modern Languages (French) with Year Abroad (Year 4)
  • UXXX-AYB04 : BSc(Hons) International Management and Modern Languages (German) with Year Abroad (Year 4)
  • UXXX-AYB06 : BSc(Hons) International Management and Modern Languages (Spanish) with Year Abroad (Year 4)


  • This unit catalogue is applicable for the 2021/22 academic year only. Students continuing their studies into 2022/23 and beyond should not assume that this unit will be available in future years in the format displayed here for 2021/22.
  • Programmes and units are subject to change in accordance with normal University procedures.
  • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
  • Find out more about these and other important University terms and conditions here.