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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)
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
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

* 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 2022/23 academic year only. Students continuing their studies into 2023/24 and beyond should not assume that this unit will be available in future years in the format displayed here for 2022/23.
  • 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.