Course review and guidance on
January 2023 examination
BMAN30131
Accountability and Auditing
Assessment
• 48 hour, open book examination.
• Answer ANY TWO questions from a choice of
FOUR.
• Maximum length for each essay: 1000 words
(excluding references).
Reminder – Learning Outcomes
 Explain the theoretical rationalisations for auditing;
 Understand major auditing concepts
independence, evidence, and reporting;
such
as
 Explain the main stages of the audit process and
developments in audit methodologies;
 Discuss the various types and the general nature of
the opinion which auditors can give on financial
statements;
 Demonstrate an appreciation of recent debates and
policy/regulatory developments concerning the
auditors’ role in corporate governance and
accountability.
Main core areas covered in course
(Questions may refer to more than one topic)
 Role of auditing:
 in practice and theory;
 economic rationalisations/accountability
perspective;
 expectations gap.
 Audit markets:
 concentration and competition;
 reforms and choice;
 audit quality.
 Auditor independence:
 threats and perceptions;
 reforms.
Main core areas covered in course
 Audit process and evidence:
 key concepts (risk/materiality/evidence);
 main stages;
 sufficient appropriate evidence;
 Professional scepticism.
 Auditor reporting:
 opinion types and usefulness;
 recent report changes;
 audit committees.
 Liability:
 interaction with other topics;
 structure and development;
 inspection/monitoring.
Four key Themes
Main core areas covered in course
 Regulation of auditor independence (weeks 1,
2, 4)
 Role of audit;
 Key issues relating to auditor independence;
 Audit failures;
 Regulatory reforms.
 Audit market (weeks 1,2,3)
 Characteristics of the audit market;
 Recent regulatory reforms.
 Audit methodology (weeks 5, 6, 7).
 Auditor’s report and audit liability (weeks 1, 2, 8,
9).
Answering Questions
 Structure (answer the question).
 Think before you write (plenty of time).
 Argument versus opinion.
 Show you understand the issues, don’t just
reproduce lecture slides.
 References – use authority but don’t worry about
precision.
 Integrate information from different topics.
 Illustrative questions and answers in blackboard
(for reference only).
Any remaining questions?
 Consult lecture slides/notes/readings;
 Use Blackboard discussion forums;
 Email queries.
Good luck!!