Brighton Business School
MODULE DETAILS
Module title
Module code
Credit value
Level
Mark the box to the right of the
appropriate level with an ‘X’
Audit and Assurance
AA3F8
20
Level 4
Level 5
Level 6
Level 0 (for modules at foundation level)
X
Level 7
Level 8
Entry criteria for registration on this module
Pre-requisites
Specify in terms of module codes or
equivalent
Co-requisite modules
Specify in terms of module codes or
equivalent
Module delivery
Mode of delivery
Taught
Other
X
Distance
Placement
Pattern of delivery
Weekly
X
Block
Other
Online
When module is delivered
Semester 1
Semester 2
Throughout year X
Other
Brief description of module This module is designed to develop an understanding of both statutory
auditing and non statutory assurance assignments. Emphasis will be on
content and/ or aims
application of the theory to practical situations and current issues facing
Overview (max 80 words)
auditors in the UK.
Module team/ author/
Nigel Padbury/Sandra Holmes
coordinator(s)
School
Business School
Site/ campus where
Moulsecoomb
delivered
Course(s) for which module is appropriate and status on that course
Course
Diploma in Professional Studies in Accounting
ACCA
Status (mandatory/ compulsory/
optional)
Mandatory
Compulsory
MODULE AIMS, ASSESSMENT AND SUPPORT
Aims
To develop knowledge and understanding of the process of carrying
out the assurance engagement and its application in the context of the
professional regulatory framework.
Learning outcomes
On completion of this module the students should be able to:
Subject specific

Explain the concept of audit and assurance and the functions
of audit, corporate governance, including ethics and
professional conduct, describing the scope and distinguishing
between the functions of internal and external audit. .

Demonstrate how the auditor obtains and accepts audit
engagements, obtains an understanding of the entity and its
environment, assesses the risk of material misstatement
(whether arising from fraud of other irregularities) and plans
an audit of financial statements.

Describe and evaluate internal controls, techniques and audit
tests, including IT systems to identify and communicate
control risks and their potential consequences, making
appropriate recommendations.

Identify and describe the work and evidence obtained by the
auditor and others required to meet the objectives of audit
engagements and the application of the International
Standards on Auditing (UK and Ireland).

Explain how consideration of subsequent events and the
going concern principle can inform the conclusions from audit
work are reflected in different types of audit report, written
representations and the final review and report.
Cognitive
 Demonstrate the ability to assimilate information and identify
relevant Audit and Assurance issues

Content
Demonstrate the ability to identify relevant Audit and
Assurance issues when presented with case study scenarios
A Audit Framework and Regulation
1. The concept of audit and other assurance engagements
2. External audits
3. Corporate Governance
4. Professional ethics and ACCA’s Code of Ethics and Conduct
5. Internal audit and governance and the differences between external
and internal audit
6. The scope of the internal audit function, outsourcing and Internal
audit assignments
B Planning and risk assessment
1. Objective and general principles
2. Understanding the entity and its environment
3. Assessing the risks of material misstatement and fraud
4. Obtaining and accepting audit engagements
5. Audit planning and documentation
6. Fraud, laws and regulations
C Internal control
1. Internal control systems
2. The use and evaluation of internal control systems by auditors
3. Transaction cycles
4. Tests of control
5. Communication on internal control
D Audit evidence
1. Financial statement assertions and audit evidence
2. Audit procedures
3. The audit of specific items
4. Audit sampling and other means of testing
5. Computer-assisted audit techniques
6. The work of others
7. Not-for-profit organisations
E Review and Reporting
1. Subsequent events
2. Going concern
3. Written representations
4. Audit finalisation and the final review
5. Audit reports
Indicative Reading:
Learning support
The latest editions of:
Kaplan study texts for F8
BPP study texts for F8
International Standards on Auditing (ISAs)
Millichamp, Alan and Taylor, John: Auditing, Cengage Learning
Additional reading
The
Cosserat, Graham W: Modern Auditing, Wiley
Walters and Dunn Student Manual of Auditing Thomson
Learning
Gray, G and Manson, The Audit Process - Principles, Practice and
Cases; International Thompson Publications,
Students Accountant
All students benefit from:
Studentcentral
Online Library Resources (e-journals and e-books)
Library facilities
Teaching and learning activities
Details of teaching and
learning activities
The basis of the presentation of new material will be by the use of
lectures supported by course notes, student research and workshops.
Workshops
These will support the lectures. Students will be given questions in
each workshop and will be expected to work through them. These will
be both discursive and problem solving questions. The aim of the
workshops is to ensure knowledge and understanding of the subject
and to encourage critical and analytical thinking.
Allocation of study hours (indicative)
Study hours
Where 10 credits = 100 learning hours
SCHEDULED
This is an indication of the number of hours students can expect to
spend in scheduled teaching activities including lectures, seminars,
tutorials, project supervision, demonstrations, practical classes and
workshops, supervised time in workshops/ studios, fieldwork, and
external visits.
44
GUIDED INDEPENDENT
STUDY
All students are expected to undertake guided independent study
which includes wider reading/ practice, follow-up work, the
completion of assessment tasks, and revisions.
156
PLACEMENT
The placement is a specific type of learning away from the
University. It includes work-based learning and study that occurs
overseas.
TOTAL STUDY HOURS
N/A
200
Assessment tasks
Details of assessment on
this module
Auditing and assurance: The coursework is designed to encourage
students to look at the subject in a more thoughtful way than under
time constrained examination conditions.
The in-course assessment (25%) will consist of a piece of individual
work counting for 15% marks and a group assignment counting for
10% marks.
Types of assessment task1
In the Summer term there will be a final three hour closed book
examination. The examination will carry a weighting of 75%.
% weighting
Indicative list of summative assessment tasks which lead to the award of credit or which are required for
progression.
(or indicate if
component is
pass/fail)
WRITTEN
Written exam
75%
COURSEWORK
Written assignment/ essay, report, dissertation, portfolio, project
output, set exercise
N/A
PRACTICAL
Oral assessment and presentation, practical skills assessment, set
exercise
25%
EXAMINATION INFORMATION
Area examination board
Diploma in Professional Studies in Accounting
Refer to Faculty Office for guidance in completing the following sections
External examiners
Name
Position and institution
Date appointed
Date tenure
ends
Refer to Studentcentral
QUALITY ASSURANCE
Date of first approval
Only complete where this is not the
first version
Date of last revision
Only complete where this is not the
first version
Date of approval for this
1
October 2014
Set exercises, which assess the application of knowledge or analytical, problem-solving or evaluative skills, are included
under the type of assessment most appropriate to the particular task.
version
Version number
2
Modules replaced
AA208
Specify codes of modules for which
this is a replacement
Available as free-standing module?
Yes
No
X