KING S OWN INSTITUTE* Success in Higher Educatin ACC300 AUDITING AND ASSURANCE SERVICES T318 - brief All infrmatin cntained within this Subject Outline applies t all students enrlled in the trimester as indicated. 1. General Infrmatin 1.1 Administrative Details Assciated HE Award(s) Duratin Level Subject Crdinatr B Bus (Accg) 1 trimester Level 3 Paul Pwer paul.pwer@ki.edu.au P: 92833583 (Ext.156) L: Level 1, 545 Kent St. Cnsultatin: via Mdle r by appintment 1.2 Cre/Elective This is a cre subject fr B Bus (Accg). 1.3 Subject Weighting Indicated belw is the weighting f this subject and the ttal curse pints. Subject Credit Pints Ttal Curse Credit Pints 4 B Bus (Accg) 96 1.4 Student Wrklad Indicated belw is the expected student wrklad per week fr this subject. N. Timetabled Hurs/Week* N. Persnal Study Hurs/Week** Ttal Wrklad Hurs/Week*** 4 hurs/week (2 hur Lecture + 2 hur Tutrial) 6 hurs/week 10 hurs/week * Ttal time spent per week at lectures and tutrials ** Ttal time students are expected t spend per week in studying, cmpleting assignments, etc. *** Cmbinatin f timetable hurs and persnal study. 1.5 Mde f Delivery On-campus 1.6 Pre-requisites ACC100 Intrductin t Accunting and ACC101 Intrductin t Financial Accunting and ACC201 Financial Accunting and Reprting. 1.7 General Study and Resurce Requirements Students are expected t attend classes with the weekly wrksheets and subject supprt material prvided in Mdle. Students shuld read this material befre cming t class t imprve their ability t participate in the weekly activities. Students will require access t the internet and their KOI email and shuld have basic skills in wrd prcessing sftware such as MS Wrd, spreadsheet sftware such as MS Excel and visual presentatin sftware such as MS PwerPint. Cmputers and WIFI facilities are extensively available fr student use thrughut KOI. Students are encuraged t make use f the campus Library fr reference materials. Resurce requirements specific t this subject: Students shuld have a nn-prgrammable calculatr. Applicatins in smart phnes will nt be sufficient t perfrm the required calculatins. ACC300 AUDITING AND ASSURANCE SERVICES T318 31/10/2018 17:08 PAGE 1 OF 5
2. Academic Details 2.1 Overview f the Subject This subject examines the audit and assurance envirnment in which rganisatins perate. Critical issues relating t prfessinal ethics, the legal liability f auditrs, audit planning and client evaluatin are explred. The rles and respnsibilities f auditrs as well as the technical aspects f audit and auditing principles are examined. 2.2 Graduate Attributes fr Undergraduate Curses Graduates f the Bachelr f Business (Accunting), and the Bachelr f Business (Management and Finance) curses frm King s Own Institute will gain the graduate attributes expected frm successful cmpletin f a Bachelr s degree under the Australian Qualificatins Framewrk (2 nd editin, January 2013). Graduates at this level will be able t apply an advanced bdy f knwledge in a range f cntexts fr prfessinal practice r schlarship and as a pathway fr further learning. King s Own Institute s key generic graduate attributes fr a bachelr s level degree are summarised belw: KOI Bachelr Degree Graduate Attributes Knwledge Critical Thinking Cmmunicatin Infrmatin Literacy Prblem Slving Skills Ethical and Cultural Sensitivity Teamwrk Prfessinal Skills Detailed Descriptin Current, cmprehensive and cherent knwledge Critical thinking and creative skills t analyse and synthesise infrmatin and evaluate new prblems Cmmunicatin skills fr effective reading, writing, listening and presenting in varied mdes and cntexts and fr transferring knwledge and skills t thers Infrmatin and technlgical skills fr accessing, evaluating, managing and using infrmatin prfessinally Skills t apply lgical and creative thinking t slve prblems and evaluate slutins Appreciatin f ethical principles, cultural sensitivity and scial respnsibility, bth persnally and prfessinally Leadership and teamwrk skills t cllabrate, inspire clleagues and manage respnsibly with psitive results Prfessinal skills t exercise judgement in planning, prblem slving and decisin making Acrss the curse, these skills are develped acrss 3 levels. These are: Level 1 Fundatin Students learn the basic skills, theries and techniques f the subject and apply them in basic, stand-alne cntexts. Level 2 Intermediate Students further develp skills, theries and techniques f the subject and apply them in mre cmplex cntexts, beginning t integrate the applicatin with ther subjects. Level 3 Advanced Students have a demnstrated ability t plan, research and apply the skills, theries and techniques f the subject in cmplex situatins, integrating the subject cntent with a range f ther subject disciplines within the cntext f the curse. ACC300 AUDITING AND ASSURANCE SERVICES T318 31/10/2018 17:08 PAGE 2 OF 5
2.3 Subject Learning Outcmes This is a Level 3 subject. Listed belw, are key knwledge and skills students are expected t attain by successfully cmpleting this subject: Subject Learning Outcmes Cntributin t Curse Graduate Attributes a) Analyse varius audit standards, prcedures and audit envirnments b) Examine and evaluate internal cntrls, testing prcedures and audit sampling techniques c) Examine audit situatins leading t a range f audit pinins d) Examine ethical issues in an audit envirnment 2.4 Subject Cntent and Structure Belw are details f the subject cntent and hw it is structured, including specific tpics cvered in lectures and tutrials. Reading refers t the text unless therwise indicated. Weekly Planner: Week (beginning) 1 05 Nv 2 12 Nv 3 19 Nv 4 26 Nv 5 03 Dec 6 10 Dec 7 17 Dec 23 Dec 2018 06 Jan 2019 8 07 Jan 9 19 Jan 10 21 Jan Tpic cvered in each week s lecture Reading(s) Expected wrk Auditing and the expanding audit envirnment Auditing prfessin and the ethical framewrks Ch 1 Ch 3 & 4 Tutrial exercises Tutrial exercises Auditr s legal liability Ch 2 Tutrial exercises Audit f financial reprts Ch 18 Online quiz due Audit planning and client evaluatin Ch 6 Tutrial exercises Mid-trimester test Audit risk assessment and testing cntrls Mid-trimester break Design testing, prcesses and prcedures fr audit Ch 7 & 8 Ch 5 & 11 Audit sampling Ch 14 Auditing rganisatinal prcesses and activities Ch 12, 13, 15 & 16 Mid-trimester exams Tutrial exercises Tutrial exercises Tutrial exercises Deferred Mid Trimester Exams fr all subjects - see Sectin 2.6 belw fr mre infrmatin Tutrial exercises ACC300 AUDITING AND ASSURANCE SERVICES T318 31/10/2018 17:08 PAGE 3 OF 5
11 28 Jan 12 Revisin 04 Feb 13 Study Review Week 11 Feb 14 Final Exam Week 18 Feb 15 Student Vacatin begins 25 Feb Enrlments fr T119 pen 16 04 Mar T119 begins 11 Mar 2019 1 11 Mar 2.7 Teaching Methds/Strategies Cmpleting the audit and stakehlder review and reprting Results Released 05 Mar 2019 Certificatin f Grades 08 Mar 2019 Ch 17 & 18 Case study Due Online quiz due Tutrial exercises Please see Exam Timetable fr exam date, time and lcatin Week 1 f classes fr T119 Friday 08 Mar 2019 Review f Grade Day fr T318 see Sectins 2.6 and 3.6 belw fr mre infrmatin. Briefly described belw are the teaching methds/strategies used in this subject: On-campus lectures (2 hurs/week) are cnducted in seminar style and address the subject cntent, prvide mtivatin and cntext and draw n the students experience and preparatry reading. Tutrials (2 hurs/week) include class discussin f case studies and research papers, practice sets and prblem-slving and syndicate wrk n grup prjects. Tutrial participatin is an essential cmpnent f the subject and cntributes t the develpment f graduate attributes (see sectin 2.2 abve). It is intended that specific tutrial material such as case studies, recmmended readings, review questins etc. will be made available each week in Mdle. Online teaching resurces include class materials, readings, mdel answers t assignments and exercises and discussin bards. All nline materials fr this subject as prvided by KOI will be fund in the Mdle page fr this subject. Students shuld access Mdle regularly as material may be updated at any time during the trimester Other cntact - academic staff may als cntact students either via Mdle messaging, r via email t the email address prvided t KOI n enrlment. 2.8 Student Assessment Prvided belw is a schedule f frmal assessment tasks and majr examinatins fr the subject. Assessment Type When assessed Weighting Learning Outcmes Assessed Online quiz (x2) Week 4 and Week 11 5 % each quiz 10 % ttal a, b, c, d Mid trimester test Week 6 20 % a, b, c Case study Finalise grups Week 6 Reprt Week 11 20 % a, b, c Final examinatin (2 hurs) Final Exam Perid 50 % a, b, c ACC300 AUDITING AND ASSURANCE SERVICES T318 31/10/2018 17:08 PAGE 4 OF 5
Requirements t Pass the Subject: T gain a pass r better in this subject, students must gain a minimum f 50% f the ttal available subject marks. 2.9 Prescribed and Recmmended Readings Prescribed Text: Arens, A.A., Best, P.J., Shailer, G.E.P., and Lebbecke, J.K., 2016 Auditing, Assurance Services and Ethics in Australia, 10th ed., Pearsn Australia ACC300 AUDITING AND ASSURANCE SERVICES T318 31/10/2018 17:08 PAGE 5 OF 5