2016/17 Undergraduate Module Catalogue

LUBS3550 Auditing and Assurance Services

20 creditsClass Size: 80

Module manager: Dr Konstantinos Bozos
Email: K.Bozos@leeds.ac.uk

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2016/17

Pre-requisite qualifications

LUBS1915 Introduction to Financial Accounting AND LUBS1925 Introduction to Management Accounting
OR
LUBS1235 Introductory Financial Accounting AND LUBS1245 Introductory Management Accounting

This module is mutually exclusive with

LUBS3540

Auditing and Information Systems

This module is approved as a discovery module

Module summary

Auditing and Assurance Services is a final level optional module, aiming to provide a critical appreciation of the fundamental theories, concepts and practices in Auditing and Assurance, as applied by professional bodies and auditing professionals. The module relates economic theories to current global auditing practice, outlines key ethical dimensions and describes in detail all the steps involved in statutory audits, as well as in other key assurance services. Prerequisite modules are: LUBS1915 Introduction to Financial Accounting AND LUBS1925 Introduction to Management AccountingORLUBS1235 Introductory Financial Accounting AND LUBS1245 Introductory Management AccountingThis module is mutually exclusive with LUBS3540 Auditing and Information Systems

Objectives

The aim of this module is to provide students with a critical appreciation of the nature, purpose and scope of statutory audits and other assurance services. By covering a range of theoretical and practical topics, the module aims to help the students develop awareness about the professional practice of audit and assurance services, within the current regulatory framework and ethical standards. Guest lectures by certified accounting and auditing professionals aim to further increase student commercial awareness and link the examined theory with the modern auditing practice.

Learning outcomes
On completion of the module students will be able to interpret and evaluate:
- some key contemporary theories and relevant empirical research evidence in the fields of auditing and assurance
- the several steps involved in the statutory audit of financial statements, from the initial engagement stage to the publication of the auditor’s report
- the stages involved in the related assurance services
- key issues and relevant empirical research evidence in the areas of auditing and assurance

Skills outcomes
Transferable:
- Structure, communicate and articulate ideas, arguments and commentary in the form of academic essays and professional quality reports

Subject Specific:
- Critically evaluate audit quality in the context of audit risk and professional standards
- Apply theory to different audit scenarios and case studies
- Identify areas which raise ethical issues for auditors, articulate the consequences of unethical behaviour and formulate professional recommendations

Syllabus

The syllabus covers the key theoretical and practical underpinnings surrounding current audit practice. Indicatively the syllabus includes: Auditing, accountability and control, The regulatory environment and corporate governance, Professional ethics, Auditor responsibility, Auditor independence, Planning and Risk assessment, Audit Review, Audit Reporting, Environmental audit, Internal Audit.

Teaching methods

Delivery type	Number	Length hours	Student hours
Lecture	20	1.00	20.00
Seminar	10	1.00	10.00
Independent online learning hours			170.00
Private study hours			0.00
Total Contact hours			30.00
Total hours (100hr per 10 credits)			200.00

Private study

Reading and preparation for seminars.

Opportunities for Formative Feedback

Participation in seminars. Students will be given written feedback on optional Non-Assessed practice essays.

Methods of assessment

Exams

Exam type	Exam duration	% of formal assessment
Standard exam (closed essays, MCQs etc)	3 hr 00 mins	100.00
Total percentage (Assessment Exams)		100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 23/02/2017

Disclaimer

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