AF4D115 - Advanced Audit & Assurance 01 Sep 2020 - 31 Aug 2026 | Version 2
Associated Module Information
| Module Code: | AF4D115 | ||
|---|---|---|---|
| Module Title: | Advanced Audit & Assurance | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Accounting and Finance | ||
| Faculty Sub Group: | Accounting and Finance | ||
| Module Leader: | Susie Jackson, Jared Davies | ||
| Module Team: | Joanna Howell, Rebecca Wright, Rhian Gosling | ||
| First Intended Intake: | SEP 2018 | Final Year of Intake: | |
| Date Closed: | |||
| Credit Value: | 40 | Credit Level: | 7 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100105 - accounting | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 2 |
|---|---|
| Valid From | 01 Sep 2020 |
| Valid To | 31 Aug 2026 |
Module Aims
This module aims to develop students’ knowledge, understanding, application and critical evaluation of contemporary advanced audit & assurance principles and practices in a range of business contexts. Further, it aims to develop students’ abilities to critically evaluate existing practice and current developments. It will require advanced evaluation and synthesis skills and will foster critical questioning.
There will be a focus on the complex practical scenarios that a professional accountant will face and the technical competencies they will require to tackle these. As a result, students will be prepared for the ACCA external Advanced Audit & Assurance examination (International and UK variants).
Content Summary
The syllabus of this module is based on the ACCA Advanced Audit & Assurance paper.
The ACCA Advanced Audit and Assurance syllabus starts with the legal and regulatory environment including money laundering, and professional and ethical considerations, including the Code of Ethics and professional liability. This then leads into procedures in practice management, including quality control and the acceptance and retention of professional engagements.
The syllabus then covers the audit of financial statements, including planning, evidence gathering and evaluation. It then covers the completion, review and reporting on an audit of historical financial information.
The next section moves onto other assignments including prospective financial information, due diligence and forensic audit as well as the reporting of these assignments.
The final section covers current issues and developments relating to the provision of audit-related and assurance services.
Summary of ACCA syllabus areas:
• Regulatory environment
• Professional and ethical considerations
• Practice management
• Planning and conducting an audit of historical financial information
• Completion, review and reporting
• Other assignments
• Current issues and developments
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Lecture | 30 |
| Seminar | 50 |
| Independent Study | 230 |
| Directed Study | 80 |
| Formative Assessment - Scheduled | 10 |
| Total Hours Selected | 400 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Critically evaluate current issues and developments relating to the regulation and provision of audit-related and assurance services, including professional and ethical frameworks and International Standards on Auditing. |
| LO2 | Critically evaluate: quality control policies and procedures in practice management; the work required to meet the objectives of audit and non-audit assignments; audit and non-audit findings and the results of work performed; and reports on assignments. |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Synchronous Onsite Assessment (Exam) | Onsite Closed Book Examination 1 | Time Constrained Assessment | 195 | 3000 | 50 | No | 40 |
| Asynchronous Assessment | Report 1 | Individual written assignment | 0 | 4500 | 50 | No | 40 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||
|---|---|---|---|
| LO1 | LO2 | ||
| Onsite Closed Book Examination 1 | ✔ | ✔ | |
| Report 1 | ✔ | ✔ | |