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Curtin Business School (CBS)
School of Accounting
Unit Outline
ACCT3000 Auditing
Semester 1, 2015
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Unit study package code:
ACCT3000
Mode of study:
Internal
Tuition pattern summary:
Note: For any specific variations to this tuition pattern and for precise information refer to
the Learning Activities section.
Lecture: 1 x 1.5 Hours Weekly
Workshop: 1 x 1.5 Hours Weekly
This unit does not have a fieldwork component.
Credit Value:
Pre-requisite units:
25.0
305229 (v.0) Advanced Financial Accounting 260 or any previous version
OR
ACCT2006 (v.0) Corporate Accounting or any previous version
Co-requisite units:
Nil
Anti-requisite units:
Nil
Result type:
Grade/Mark
Approved incidental fees:
Information about approved incidental fees can be obtained from our website. Visit
fees.curtin.edu.au/incidental_fees.cfm for details.
Unit coordinator:
Title:
Name:
Phone:
Email:
Building:
Room:
Mr
YH Tham
+618 92662381
y.tham@curtin.edu.au
407
410B
Teaching Staff:
Name:
Phone:
Email:
Building:
Room:
Joseph Christopher
+618 9266 2006
J.Christopher@exchange.curtin.edu.au
407
431
Name:
Phone:
Email:
Building:
Room:
Abhi Singh
+618 92662382
Abhijeet.S@cbs.curtin.edu.au
407
410E
Administrative contact:
Name:
Phone:
Email:
Building:
Room:
YH Tham
+618 92662381
y.tham@curtin.edu.au
407
410B
Learning Management System:
Blackboard (lms.curtin.edu.au)
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 1 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
Acknowledgement of Country
We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and present.
Syllabus
An overview of assurance and ethics, independence and corporate governance. Understanding of the company audit process
including audit planning - the concepts of materiality and audit risk. The evaluation and testing of internal control systems and
substantive audit testing of transactions and balances. The finalisation of the audit and audit reporting.
Introduction
Welcome to Auditing for Semester 1, 2015! I hope that you find this a rewarding and interesting unit. The purpose of the unit is to
introduce students to auditing, with the emphasis on practical auditing concepts, the auditor's decision-making processes and the
appropriate audit procedures which auditors follow in different circumstances. The theme of the course is the external audit of
reporting entities, from initial planning to final reporting in the context of a professional assurance environment.
We will begin the course by examining the audit process in an overview format and we will regularly return to this overview to identify
the stage of the audit process we are examining. A significant part of this course is spent examining the audit planning process, which
is the most important aspect of the audit. To this end, we will examine a number of examples during lectures and workshops that
analyse financial statements and identify the key risk areas from the auditor’s perspective.
This is not very different from financial statement analysis studies you have completed in other areas of your degree. What is different
is how we use this information in terms of the audit emphasis. Remember, auditors are not responsible for preparing the accounting
information (i.e. the general purpose financial report). Their job is to audit the financial statements with a view to providing an audit
opinion in accordance with Australian Auditing and Assurance Standards.
Auditing is a challenging unit and students should be mindful of the following points:
1.The purpose of the lecture notes (available on Blackboard) is to give guidance on the various topics covered in the course. As it is
impossible to cover every aspect of a topic in such notes, it is essential that students acquaint themselves thoroughly with a topic by
reading the relevant sections of the prescribed texts and other reference material prior to attending lectures.
2.The key to success in Auditing is PRACTICE . Students will be assisted in this process by considering workshop questions that ask for
the application of auditing concepts. Students should set aside a minimum of ten hours per week to complete the readings, workshop
practice questions, workshop assessment and to study sufficiently to achieve the required level of understanding and competence in
the unit. Depending on your ability and academic background, you may need to devote more or less time to this unit than the hours
shown. For example, ESL students may need to devote more time to reading and review tasks than the hours shown.
Unit Learning Outcomes
All graduates of Curtin University achieve a set of nine graduate attributes during their course of study. These tell an employer that,
through your studies, you have acquired discipline knowledge and a range of other skills and attributes which employers say would
be useful in a professional setting. Each unit in your course addresses the graduate attributes through a clearly identified set of
learning outcomes. They form a vital part in the process referred to as assurance of learning. The learning outcomes tell you what
you are expected to know, understand or be able to do in order to be successful in this unit. Each assessment for this unit is carefully
designed to test your achievement of one or more of the unit learning outcomes. On successfully completing all of the assessments
you will have achieved all of these learning outcomes.
Your course has been designed so that on graduating we can say you will have achieved all of Curtin's Graduate Attributes through
the assurance of learning process in each unit.
On successful completion of this unit students can:
Graduate Attributes addressed
1 Explain the regulatory and ethical framework in which auditors operate
2 Analyse financial information to identify key risk areas and their impact on the audit approach
3 Apply appropriate audit procedures to key risk areas
4 Prepare and justify an audit opinion for a given set of circumstances
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 2 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
Curtin's Graduate Attributes
Apply discipline knowledge
Thinking skills
Information skills
(use analytical skills to solve problems)
(confidence to investigate new ideas)
Communication skills
Technology skills
International perspective
Cultural understanding
(value the perspectives of others)
(value the perspectives of others)
Learning how to learn
(apply principles learnt to new situations)
(confidence to tackle unfamiliar problems)
Professional Skills
(work independently and as a team)
(plan own work)
Find out more about Curtin's Graduate attributes at the Office of Teaching & Learning website: ctl.curtin.edu.au
Learning Activities
The strategies used in this unit to facilitate your learning process include lectures, workshops, written assignments, a mid-semester
examination, and an independent final examination.
Lectures
Each lecture will cover the material for the topic as detailed in the Program calender of this unit outline. In this unit, it is highly
recommended that you come prepared to each lecture. By doing this, you can maximise the value of attending lectures and can
contribute readily to discussions, if any, concerning objectives and content. In addition, your ability to both understand and
demonstrate understanding of the material through any lecture activities (cooperatively or otherwise) will be significantly enhanced if
you are adequately prepared. To assist you in achieving these objectives, you will be provided access to the lecture material (i.e.
PowerPoint slides) the week before each lecture.
Workshops
The workshops provide students with an opportunity to improve their understanding and technical competence by completing a
range of questions and problems related to each topic. In addition, workshop participation encourages the development of oral
communication skills, teamwork and group skills, as well as problem solving and critical thinking skills. To this end, students are
encouraged (and expected) to contribute and participate at the workshops. To get maximum benefit from the use of workshops, you
should be prepared in advance for each workshop by having (a) analysed the topic in advance (b) completed the required readings
(c) completed the set questions and problems (d) drafted a set of questions concerning problems encountered during reading of the
topic and/or preparation for workshops.
In addition, one important aspect of using the workshops as a learning aid is the follow up. It really is in your best interests as soon
as possible after the workshop to follow up on any aspects raised as a consequence of that workshop. You should ask yourself if
you are satisfied that you have achieved the topic objectives. Were there any general issues that have not been addressed? Can you
see how this topic relates to previous topics? Are there any technical or conceptual issues that are still causing you concern? Remember that what you get out of workshops is directly related to what you are willing to put into them by way of preparation and
contribution. To assist you with this, the course material will keep closely to the required text.
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 3 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
Learning Resources
Essential texts
The required textbook(s) for this unit are:
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Gay,R. and Simnett,R. (2012). Auditing & Assurance Services in Australia (5th Ed), McGraw Hill (ISBN:9780071013109).
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CAANZ Auditing, Assurance and Ethics Handbook 2015: John Wiley & Sons (ISBN:9780730321699).
Recommended texts
You do not have to purchase the following textbooks but you may like to refer to them.
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Moroney, R., Campbell, F., Hamilton, J. (2011). Auditing : A Practical Approach (1st Ed), John Wiley & Sons
(ISBN:97817421659430)
Leung, P., Coram, P., Cooper, B.J. (2011). Modern Auditing & Assurance Services (5th Ed), Australia: John Wiley & Sons
(ISBN:9781742168456).
Other resources
This unit makes use of the Web-based learning resource, Blackboard. In Blackboard, you will find in electronic form:
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PowerPoint slides for each workshop lecture;
One practice/mock mid-semester and final examination paper, including suggested solutions and marking guide. This will be
made available on Blackboard two weeks prior to the respective examinations.
In “Announcements”, messages to you from time to time from the Unit Controller.
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 4 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
Assessment
Assessment schedule
Task
1
2
3
Value %
Date Due
Unit Learning
Outcome(s)
Assessed
Case study assessment
20 percent
Week: 5 & 12
Day: Friday
Time: 18:00
1,2,3
Mid-Semester Test
30 percent
Week: 8
Day: Saturday
Time: 09:30
1,2,3
Final Exam
50 percent
Week: 16 & 17
Day: TBA
Time: TBA
2,3,4
Detailed information on assessment tasks
1. At workshops, the tutor will discuss with students the theoretical and practical issues relating to the weekly workshop
questions. As this subject is heavily dependent on judgment and decision making, students are encouraged to explore
alternative approaches to the selected workshop problems. Students are required to prepare answers for the selected
workshop questions before attending the weekly workshops and participate actively in discussions by asking questions and
providing answers. This is important for their continued revision and preparation for the first asessment activity, the mid
semester test and final examinations.
For the purposes of the first assessment activity that constitutes 20% of the total assessment marks, students shall hand in the
answers to two separate set of assignment questions latest by 6pm on the following dates: 03/04/2015 and 22/05/2015. The
two separate set of assignment questions to be handed in will only be made known to the students through Blackboard two
weeks before each assignment is due. Assessment will be based on the criteria in the Assignment Marking Guide (AMG) that
will be uploaded on Blackboard. The instructions for submission of the assignments will be announced on the Blackboard.
The work you submit must be your own. Any plagiarism from other students’ work or from solutions circulating from ‘solutions
manuals’ will result in an automatic zero score for the submission. Significant penalties are imposed where assignments are
found to be plagiarised. The University policy on plagiarism and academic misconduct can be found on this webpage:
http://student.curtin.edu.au/administration/responsibilities.cfm
2. A mid-semester exam will be completed by you on 25/04/2015 (Saturday) commencing at 9.30am. The mid-semester
examination will be a restricted book examination (with the exception of the CAANZ Auditing, Assurance and Ethics Handbook
2015) of one hour and thirty minutes plus 10 minutes reading time and will cover all course materials from Chapters 1, 2, 3, 5
and 6. Please be at your respective venue by 9am. The detail of the exam venue(s) will be made available to you on Blackboard
two weeks prior to the exam.
The structure and format of the mid-semester exam is as follows: There will be 35 Multiple-Choice Questions worth 35 marks
in total (i.e. one mark each) and one short-essay question worth 15 marks. This will then be scaled down to 30%.
3. The final examination will cover material from each of the topics in the unit. The examination will be a closed book
examination (with the exception of the CAANZ Auditing, Assurance and Ethics Handbook 2015 – see additional information on
page 7) and be of three hours and ten minutes duration. Information about the format and structure of the final examination
will be posted on Blackboard during study week. Students will not be given individual information about the examination. Given the weighting of the assessment, students are strongly encouraged to prepare a study program as soon as possible. This will assist you in keeping abreast with the lecture and workshop workload as well as subsequently assist you with your
revision.
The final examination will be held during the formal examination period. It is your responsibility to check the date and time of
the final examination. University policy disallows information regarding the examination timetable to be given over the
telephone and no final results are available prior to the Board of Examiners meeting held after the examination.
Pass requirements
To pass this unit you must attempt all assessments and receive an overall grade of 5 or more and a mark greater than or equal to 50.
Fair assessment through moderation
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 5 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
Moderation describes a quality assurance process to ensure that assessments are appropriate to the learning outcomes, and that
student work is evaluated consistently by assessors. Minimum standards for the moderation of assessment are described in the
Assessment and Student Progression Manual, available from policies.curtin.edu.au/policies/teachingandlearning.cfm
Late assessment policy
This ensures that the requirements for submission of assignments and other work to be assessed are fair, transparent, equitable, and
that penalties are consistently applied.
1.
2.
All assessments students are required to submit will have a due date and time specified on this Unit Outline.
Students will be penalised by a deduction of ten percent per calendar day for a late assessment submission (eg a mark
equivalent to 10% of the total allocated for the assessment will be deducted from the marked value for every day that the
assessment is late). This means that an assessment worth 20 marks will have two marks deducted per calendar day late. Hence
if it was handed in three calendar days late and given a mark of 16/20, the student would receive 10/20. An assessment more
than seven calendar days overdue will not be marked and will receive a mark of 0.
Assessment extension
A student unable to complete an assessment task by/on the original published date/time (eg examinations, tests) or due date/time
(eg assignments) must apply for an assessment extension using the Assessment Extension form (available from the Forms page at
students.curtin.edu.au/administration/) as prescribed by the Academic Registrar. It is the responsibility of the student to demonstrate
and provide evidence for exceptional circumstances beyond the student's control that prevent them from completing/submitting the
assessment task.
The student will be expected to lodge the form and supporting documentation with the unit coordinator before the assessment
date/time or due date/time. An application may be accepted up to five working days after the date or due date of the assessment
task where the student is able to provide an acceptable explanation as to why he or she was not able to submit the application prior
to the assessment date. An application for an assessment extension will not be accepted after the date of the Board of Examiners'
meeting.
Deferred assessments
If your results show that you have been granted a deferred assessment you should immediately check your OASIS email for details.
Deferred examinations/tests will be held from 20/07/2015 to 31/07/2015 . Notification to students will be made after the Board of
Examiners’ meeting via the Official Communications Channel (OCC) in OASIS.
Supplementary assessments
Supplementary assessments are not available in this unit.
Referencing style
The referencing style for this unit is Chicago.
More information can be found on this style from the Library web site: library.curtin.edu.au.
Academic Integrity (including plagiarism and cheating)
Any conduct by a student that is dishonest or unfair in connection with any academic work is considered to be academic misconduct.
Plagiarism and cheating are serious offences that will be investigated and may result in penalties such as reduced or zero grades,
annulled units or even termination from the course.
Plagiarism occurs when work or property of another person is presented as one's own, without appropriate acknowledgement or
referencing. Submitting work which has been produced by someone else (e.g. allowing or contracting another person to do the work
for which you claim authorship) is also plagiarism. Submitted work is subjected to a plagiarism detection process, which may include
the use of text matching systems or interviews with students to determine authorship.
Cheating includes (but is not limited to) asking or paying someone to complete an assessment task for you or any use of
unauthorised materials or assistance during an examination or test.
For more information, including student guidelines for avoiding plagiarism, refer to the Academic Integrity tab in Blackboard or
academicintegrity.curtin.edu.au.
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 6 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
Additional information
Other information on Mid Semester and Final Exam
Students will be allowed to take only their CAANZ Auditing, Assurance and Ethics Handbook 2015 into the exam venue. The
handbook may be underlined, highlighted and tagged. The title and number of both the Auditing Standard and its
respective sections can be written on the tags. The Handbook cannot be written in nor can it include notes or additional
sheets. Students in breach of this rule will have their handbook removed and shall be subject to the university’s policy on cheating.
Students who choose to use borrowed handbooks/used handbooks have the responsibility for ensuring that their handbook does
not breach the requirements above.
Remember to bring your Curtin Student ID card to all examinations and place it on the desk in front of you. You
will not be allowed to complete the examination without your ID card.
The Curtin School of Accounting Facebook page will also contain much information that may be of use to you, including
careers information. Please sign up if you are on Facebook and join in the community!
http://www.facebook.com/CurtinAccounting
The information here is available through other channels, but it is all here for ease of access.
Enrolment:
It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the eStudent
option on OASIS, where you can also print an Enrolment Advice.
Enrolment
It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the eStudent option on
OASIS, where you can also print an Enrolment Advice.
Student Rights and Responsibilities
It is the responsibility of every student to be aware of all relevant legislation, policies and procedures relating to their rights and
responsibilities as a student. These include:
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the Student Charter
the University's Guiding Ethical Principles
the University's policy and statements on plagiarism and academic integrity
copyright principles and responsibilities
the University's policies on appropriate use of software and computer facilities
Information on all these things is available through the University's "Student Rights and Responsibilities website at:
students.curtin.edu.au/rights.
Student Equity
There are a number of factors that might disadvantage some students from participating in their studies or assessments to the best
of their ability, under standard conditions. These factors may include a disability or medical condition (e.g. mental illness, chronic
illness, physical or sensory disability, learning disability), significant family responsibilities, pregnancy, religious practices, living in a
remote location or another reason. If you believe you may be unfairly disadvantaged on these or other grounds please contact
Student Equity at eesj@curtin.edu.au or go to http://eesj.curtin.edu.au/student_equity/index.cfm for more information
You can also contact Counselling and Disability services: http://www.disability.curtin.edu.au or the Multi-faith services:
http://life.curtin.edu.au/health-and-wellbeing/about_multifaith_services.htm for further information.
It is important to note that the staff of the university may not be able to meet your needs if they are not informed of your individual
circumstances so please get in touch with the appropriate service if you require assistance. For general wellbeing concerns or advice
please contact Curtin's Student Wellbeing Advisory Service at:
http://life.curtin.edu.au/health-and-wellbeing/student_wellbeing_service.htm
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 7 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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
Curtin Business School (CBS)
School of Accounting
Recent unit changes
We welcome feedback as one way to keep improving this unit. Students are encouraged to provide unit feedback through eVALUate,
Curtin's online student feedback system (see evaluate.curtin.edu.au/info/).
To view previous student feedback about this unit, search for the Unit Summary Report at
evaluate.curtin.edu.au/student/unit_search.cfm. See evaluate.curtin.edu.au to find out when you can eVALUate
this unit.
Recent changes to this unit include:
We welcome feedback as one way to keep improving this unit. Students are encouraged to provide unit feedback
through eVALUate, Curtin's online student feedback system (see evaluate.curtin.edu.au/info/). Recent changes to this
unit include:
1. Improved iLecture functionality.
2. A text customised to the Auditing unit.
3. Inclusion of two individual written assessments addressing the attributes of disciplinary knowledge and ethical reasoning.
See evaluate.curtin.edu.au to find out when you can eVALUate this unit.
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 8 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
Program calendar
Lecture topics and workshop questions are selected from the required text. Australian Auditing Standards (ASAs) and the Code of
Ethics for Professional Accountants (APES 110) are located in the CAANZ Auditing, Assurance and Ethics Handbook 2015.
Week
1
Week Beginning
02/03/2015
Lecture Topic/s
Essential Readings
Assurance and auditing: an
overview (Chapter 1)
ASA 200, 220, 315 and 700
The structure of the profession
(Chapter 2)
2
3
4
5
09/03/2015
16/03/2015
23/03/2015
30/03/2015
Workshop Questions
No questions to prepare but to
attend workshop for unit
familiarisation.
Ethics, independence and
corporate governance (Chapter
3)
ASA 102, 240 and APES
110
RQ 1.10, 1.16, 2.9, 2.18
Overview of elements of the
financial report audit process
(Chapter 5)
ASA 230, 330 and 500
RQ 3.9, 3.12, 3.16
Planning, understanding the
entity and evaluating business
risk (Chapter 6)
ASA 210, 220, 300, and
315
RQ 5.9, 5.13, 5.15
Assessing specific business risk
and materiality (Chapter 7)
ASA 320 and 570
RQ 6.9, 6.12, 6.15
DP 6.26 , 6.30
Assignment 1 due by
03/04/2015 (Friday)
DP 1.33, 2.24, 2.25
DP 3.23, 3.33, 3.37
DP 5.25, 5.30, 5.34
6
06/04/2015
Tuition Free Week
7
13/04/2015
Tuition Free Week
8
20/04/2015
Understanding and assessing
internal control (Chapter 8)
ASA 315, 402 and 610
RQ 7.7, 7.13, 7.15
DP 7.19, 7.28
Mid Semester Exam on
25/04/2015 (Saturday)
9
27/04/2015
Test of Controls (Chapter 9)
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
ASA 330
RQ 8.11, 8.13
DP 8.20, 8.27, 8.29, 8.36
Page: 9 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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Curtin Business School (CBS)
School of Accounting
10
04/05/2015
Substantive tests of transactions
and balances – cash, sales,
purchases and inventory system
(Chapter 10)
ASA 500, 501, 505, 520
and 540
RQ 9.10, 9.11, 9.12
ASA 550
RQ 10.11, 10.13, 10.16
DP 10.27, 10.32
ASA 560, 570 and 580
RQ 10.19, 10.21
DP 10.35, 10.38, 10.39
DP 9.18, 9.21
11
11/05/2015
Substantive tests of transactions
and balances – accounts
payable, payroll, non-current
assets/liabilities, owners equity
(Chapter 10)
12
18/05/2015
Completion and review (Chapter
12)
Assignment 2 due by
22/05/2015 (Friday)
13
14
25/05/2015
01/06/2015
Auditor’s reporting obligations
(Chapter 13)
ASA 450, 570, 700, 710
and 720
RQ 12.7, 12.9, 12.17
Revision
RQ 13.14, 13.18
DP 12.21, 12.35
DP 13.32, 13.33, 13.34
15
08/06/2015
Study Week
16
15/06/2015
Exam Week
17
22/06/2015
Exam Week
IMPORTANT: In order to assist you with developing a study plan, please note that, in terms of estimated work time per week,
reading/lecture preparation requires an average of 3 hours, lecture/workshop attendance an average of 3 hours and
completion of workshop questions and revision an average of 4 hours. This potentially requires you to allocate an average of
10 hours per week for Auditing 300. Depending on your ability and academic background, you may need to devote more or
less time to this unit than the hours shown.
ACCT3000 Auditing
Bentley Campus
06 Feb 2015
School of Accounting, Curtin Business School (CBS)
Page: 10 of 10
CRICOS Provider Code
WA 00301J, NSW 02637B
The only authoritative version of this Unit Outline is to be found online in OASIS
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