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2017/18 Undergraduate Module Catalogue

LUBS3540 Auditing and Information Systems

10 creditsClass Size: 50

Module manager: Mr Konstantinos Bozos

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2017/18

Pre-requisite qualifications

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

This module is mutually exclusive with

LUBS2035Finance for Small Business
LUBS3550Auditing and Assurance Services

This module is approved as a discovery module

Module summary

Auditing and Information Systems is a level 3 optional module, aiming to provide an introduction to the fundamental theories, concepts and practices in Auditing. The module relates economic theories to international auditing practice, discusses key considerations for the auditor, the organisation and the society and outlines the key steps involved in statutory audits, as well as in related assurance services, such as internal and environmental audits. 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


The aim of the module is to provide the students with a critical appreciation of the nature, purpose and scope of statutory audits and accounting information systems. By covering a range of theoretical and practical topics, the module aims to help the students develop awareness about the professional practice of auditing within the current regulatory framework. 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 key steps involved in the statutory audit of financial statements, from the initial engagement stage to the publication of the auditor’s report
- the term audit, the key issues related to auditing information systems and their contributions and implications for organisations
- audit quality in the context of audit risk and professional standards

Skills outcomes
On completion of the module students will be able to:
- Structure, communicate and articulate ideas, arguments and commentary in the form of academic essays and professional quality reports

Subject Specific
- Apply theory to different audit scenarios and real-world cases
- Identify areas which raise concerns for auditors and formulate professional recommendations


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

Teaching methods

Delivery typeNumberLength hoursStudent hours
Private study hours84.00
Total Contact hours16.00
Total hours (100hr per 10 credits)100.00

Private study

For each 10 credits of study taken, the expectation is that the normal study time (including attendance at lectures and tutorials, self-study and revision) is 100 hours.

Opportunities for Formative Feedback

- In order to give practice on writing hour-long essays, an essay title on independence is given as this topic occurs relatively early in the module.
- Students are urged to attempt it and hand it in for marking, although it is not part of the formal assessment.
- Students also hand in other essays on past exam questions to get feedback.

Methods of assessment

Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)2 hr 00 mins100.00
Total percentage (Assessment Exams)100.00

The resit for this module will be 100% by examination.

Reading list

The reading list is available from the Library website

Last updated: 25/01/2018


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