Program Overview

---

Module Overview

The AUDITING (ACCREDITED) module provides a structured approach to the conceptual and practical principles of auditing and other assurance engagements. It offers a real-world perspective on current auditing practices, covering topical developments and techniques.

Module Details

• Module code: MAN3098
• Module provider: Surrey Business School
• Module Leader: MILLIGAN Victoria (SBS)
• Number of Credits: 15
• ECTS Credits: 7.5
• Framework: FHEQ Level 6
• Module cap (Maximum number of students): N/A

Module Content

Indicative content includes:

• Auditing overview: The audit market and the role of auditor
• Ethics, independence, and legal liability of auditors
• Client acceptance
• Audit Planning and risk assessment - understanding the entity and its environment, including audit documentation
• Concepts of audit risk and audit materiality
• Internal control the use of internal control systems by auditors, transaction cycles, tests of control, the evaluation of internal control components, communication on internal control
• Substantive testing and analytical procedures
• Audit evidence the use of assertions by the auditor, audit procedures, the audit of specific risk items, audit sampling, and other testing, computer-assisted audit techniques
• Audit opinion and reporting
• Review subsequent events, going concern, written representations, audit finalization, and the final review
• Fraud
• Internal audit - the differences between the external auditor and the internal audit function, the scope of the internal audit function, outsourcing the internal audit department, internal audit assignments

Assessment Pattern

• Assessment type: School-timetabled exam/test and examination
• Unit of assessment: CLASS TEST SET TIME AND DATE (60 mins) and EXAM SET TIME AND DATE (2 hours)
• Weighting: 30 for the class test and 70 for the examination

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their knowledge of auditing theory and practice and their ability to apply this knowledge to given scenarios. The summative assessment consists of a midterm test and a final term examination covering all learning outcomes.

Module Aims

• To introduce students to the major issues in auditing theory and practice.
• To explain and analyze the nature of statutory audit and the key stages in the audit process.
• To illustrate audit concepts with real-life cases.

Learning Outcomes

| | Attributes Developed
---|---|---
001 | To explain and analyze the nature of statutory audit and the key stages in the audit process. | KCPT
002 | To apply theoretical audit concepts and use their understanding and insight gained throughout the module to interpret case study scenarios and review real-life case studies. | KCPT
003 | To apply the professional standards, including the nature, role, and development of a profession and professional bodies, professional duties, and ethics, professional independence, professional negligence, and legal liability. | KCPT
004 | To follow and complete the main stages of the typical audit process and developments in audit methodologies. | KCPT
005 | To differentiate between external and internal auditing. | KCPT

Attributes Developed

• C - Cognitive/analytical
• K - Subject knowledge
• T - Transferable skills
• P - Professional/Practical skills

Methods of Teaching / Learning

The learning and teaching strategy is designed to give students the opportunity to gain knowledge and understanding of relevant auditing theory and practices and to equip them with a practical awareness of the use of audit issues in a real-world context. The methods include seminars, captured content, and guided learning, with illustrative examples and practice exercises.

Reading List

Upon accessing the reading list, please search for the module using the module code: MAN3098

Other Information

• Employability: Real-life examples are used to show the steps taken during an audit, providing useful knowledge for graduates entering the auditing profession and those who are likely to be audited in their future careers.
• Global capabilities: The module is based on International Standards on Auditing (ISAs), applicable to most countries around the world.
• Resourcefulness and resilience: The module requires students to demonstrate these skills through analysis, mathematics, and real-world data in answering seminar questions and providing practical suggestions.

Programmes this Module Appears In

• Programme: Accounting and Finance (Dual degree with SII-DUFE) BSc (Hons)
  • Semester: 2
  • Classification: Optional
  • Qualifying conditions: A weighted aggregate mark of 40% is required to pass the module
• Programme: Accounting and Finance BSc (Hons)
  • Semester: 2
  • Classification: Optional
  • Qualifying conditions: A weighted aggregate mark of 40% is required to pass the module
• Programme: International Accounting with Finance (FHEQ LEVEL 5 Direct Entry) BSc (Hons)
  • Semester: 2
  • Classification: Compulsory
  • Qualifying conditions: A weighted aggregate mark of 40% is required to pass the module
• Programme: International Accounting with Finance (FHEQ LEVEL 6 Direct Entry) BSc (Hons)
  • Semester: 2
  • Classification: Compulsory
  • Qualifying conditions: A weighted aggregate mark of 40% is required to pass the module