Module Catalogues, Xi'an Jiaotong-Liverpool University   
Module Code: ACF206
Module Title: Audit and Assurance
Module Level: Level 2
Module Credits: 5.00
Academic Year: 2019/20
Semester: SEM2
Originating Department: International Business School Suzhou
Pre-requisites: N/A

1) To examine the regulatory framework within the statutory audit in international operates.

2) To cover key elements of international Standards on Auditing with respect to planning, control, evidence and reporting.

3) To understand the nature and purpose of the assurance process.

4) To understand the fundamental principles of ethics in the context of audit and assurance.
Learning outcomes 
Learning outcomes

Students completing the module successfully will be able to:


A Explain the nature and purpose of the regulatory framework for international standards on auditing.

B Understand the importance of ethical behaviour to a professional accountant and explain issues relating to integrity, objectivity, conflicts of interest, and conflicts of loyalty, confidentiality and independence.

C Explain the nature and purpose of audit planning, determine audit risk and draw up an audit plan.

D Explain the nature of internal controls and why they are important and identify weaknesses in internal control systems.

E Determine what constitutes sufficient and appropriate audit evidence and draw conclusions from evidence obtained.

F Explain and prepare an audit report and report to management based upon audit conclusions.

G Explain the nature and concept of assurance, why assurance is required and the reasons for assurance engagements being carried out by appropriately qualified professionals.

Method of teaching and learning 
Lectures supported by scenarios and examples. Seminars/workshops to practice the application of techniques and principles.
1) Introduction to audit framework and regulation

2) External and internal audit

3) Professional ethics, code of conduct, and corporate governance

4) Different approaches to investigation, planning the audit

5) Internal control and systems audit

6) Revenue and capital expenditure

7) Audit risk assessment and sampling

8) Financial statement audit

9) Asset verification

10) Liabilities and accruals

11) Going concern

12) Audit reporting

13) Emerging issues in auditing
Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 26   13        111  150 


Sequence Method % of Final Mark
1 Online Open Book Exam (3 Hours) 100.00

Module Catalogue generated from SITS CUT-OFF: 6/3/2020 1:25:17 AM