AF2S533 - Audit and Assurance 09 Mar 2020 - 31 Aug 2025 | Version 1
Associated Module Information
| Module Code: | AF2S533 | ||
|---|---|---|---|
| Module Title: | Audit and Assurance | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Accounting and Finance | ||
| Faculty Sub Group: | Accounting and Finance | ||
| Module Leader: | Louise Miles | ||
| Module Team: | Jared Davies | ||
| First Intended Intake: | SEP 2020 | Final Year of Intake: | 2024 |
| Date Closed: | |||
| Credit Value: | 20 | Credit Level: | 5 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100105 - accounting | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 1 |
|---|---|
| Valid From | 09 Mar 2020 |
| Valid To | 31 Aug 2025 |
Module Aims
The module aims to develop knowledge and understanding of the audit and assurance process and its practical application in the context of the professional regulatory framework
Content Summary
Audit framework and regulation: Regulatory framework, aspects of corporate governance and professional ethics.
Planning and risk assessment: Determining audit approach.
Internal Controls: Control environment, internal controls and tests of controls.
Audit evidence: Substantive testing over key areas of the financial statements.
Review and reporting: Reviewing the financial statements. The auditor’s report including the process of forming an opinion.
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Practical classes and workshops | 38 |
| Independent Study | 96 |
| Directed Study | 56 |
| Formative Assessment - Scheduled | 2 |
| Active/Simulation Based | 8 |
| Total Hours Selected | 200 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Discuss the theory and practice of audit and assurance |
| LO2 | Analyse and critically evaluate information in an audit context. |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Written Examination | Written Examination - Closed Book (Unseen) 1 | The examination will test overall knowledge and application of the audit process and regulatory framework | 180 | N/A | 70 | No | 40 |
| Written Assignment (CW) | Report (CW) 1 | A report based on issues in auditing using simulated data | 0 | 1500 | 30 | No | 40 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||
|---|---|---|---|
| LO1 | LO2 | ||
| Written Examination - Closed Book (Unseen) 1 | ✔ | ✔ | |
| Report (CW) 1 | ✔ | ✔ | |