Module Catalogues, Xi'an Jiaotong-Liverpool University   
 
Module Code: ACC407
Module Title: Audit and Assurance
Module Level: Level 4
Module Credits: 5.00
Academic Year: 2021/22
Semester: SEM1
Originating Department: Department of Accounting
Pre-requisites: N/A
   
Aims
To develop understanding of the critical aspects of managing an assurance engagement (including audit engagements): acceptance, planning, managing, concluding and reporting.
Learning outcomes 

A understand and advise on the regulatory, professional and ethical issues relevant to those carrying out an assurance engagement. Analyse potential issues in such an engagement, and apply the relevant professional ethical knowledge to these issues.

B understand the processes involved in accepting and managing assurance engagements.

C understand how quality assurance processes mitigate risks, and interpret the significance of these processes in the context of an organization.

D plan assurance engagements in accordance with the terms of the engagement and appropriate standards.

E conclude and report on assurance engagements in accordance with the terms of the engagements and appropriate standards.

F demonstrate a critical understanding of the theories and principles upon which modern auditing and assurance is based and resolve ethical problems through rational debate and analysis

Method of teaching and learning 
A range of teaching and learning methods will be utilized on this module. Core substantive knowledge will be delivered via a weekly 2-hour lecture, and the knowledge covered in lectures will be reinforced by practical student group work, culminating in participative tutorials of one-hour duration each week. Longer, case-based work will be delivered by means of two 2-hour seminars, which will again be participative in nature.
Syllabus 
1 Legal and other professional regulations, ethics and current issues 20%

2 Accepting and managing engagements 15%

3 Planning engagements 40%

4 Concluding and reporting on engagements 25%

TOTAL 100%


For clarity, learning outcomes applicable to all types of assurance engagements (including audit) are separated from those that are relevant only to audit engagements.


1 Legal and other professional regulations, ethics and current issues

Students will be able to understand and advise on the regulatory, professional and ethical issues relevant to those carrying out an assurance engagement.


In the assessment, students may be required to:


All assurance engagements

a. identify and advise upon the professional and ethical issues that may arise during an assurance engagement

b. recognise the professional and ethical issues that may arise during an assurance engagement, explain the relevance and importance of these issues and evaluate the relative merits of different standpoints taken in debate

c. judge when to raise legal and ethical matters arising from assurance work with senior colleagues for review and possible referral to external parties

d. discuss the purposes and consequences of UK and other (e.g. in the US and Chinese contexts) laws and other regulatory requirements surrounding assurance work

e. explain the standard-setting process used by national and international (IAASB) bodies and the authority of the national and international standards

f. explain, in non-technical language, significant current assurance issues being dealt with by the national standard-setting body and the IAASB

g. explain, using appropriate examples, the main ways in which national legislation affects assurance


Audit engagements

h. explain the main ways in which national legislation and other regulations affect the scope and nature of the audit and the appointment and removal of aud
Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 26  15  13      96  150 

Assessment

Sequence Method % of Final Mark
1 Exam 100.00

Module Catalogue generated from SITS CUT-OFF: 12/2/2020 5:26:20 AM