| CODE | ACC3411 | ||||||||
| TITLE | Principles of Auditing | ||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 6 | ||||||||
| ECTS CREDITS | 6 | ||||||||
| DEPARTMENT | Accountancy | ||||||||
| DESCRIPTION | Rationale & Learning Objectives: This study-unit introduces students to the basic theory and practice of auditing in order to provide the necessary ground-work from which to study auditing in the Honours course. It is divided into seven areas as shown below. Indicative Syllabus & Study-unit Outline Audit Framework and Regulation The Concept of audit and other assurance engagements Statutory audit The regulatory environment and corporate governance Professional ethics and the IFAC Maltese Codes of Ethics and Conduct Internal Audit Internal audit and corporate governance Differences between external and internal audit The scope of the internal audit function Outsourcing the internal audit department Internal audit assignments Planning and Risk Assessment Objective and general principles Understanding the entity and knowledge of the business Assessing the risks of material misstatement and fraud Analytical procedures Planning an audit Audit documentation The work of others Internal Control Internal control systems The use of internal control systems by auditors Transaction cycles Tests of control The evaluation of internal control components Communication on internal control Audit evidence The use of assertions by auditors Audit procedures The audit of specific items Audit sampling and other means of testing Computer-assisted audit techniques Not-for-profit organisations Review Subsequent events Going concern Management representations Audit finalisation and the final review Reporting Audit reports Reports to management Internal audit reports Reading List: Porter Brenda, Simon Jon and Hatherly David . Principles of External Auditing, John Wiley and Sons. Hayes R, Dassen R, Schilder A, Wallage P - Principles of Auditing: An Introduction to International Standards on Auditing (Prentice Hall). Arens A, Elder R, Beasley M - Auditing & Assurance Services: An Integrated Approach – (Prentice Hall). International Federation of Accountants. International Standards on Auditing. |
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| RULES/CONDITIONS | Before TAKING THIS UNIT YOU MUST TAKE ACC2112 AND TAKE ACC2113 | ||||||||
| ADDITIONAL NOTES | Offered only to B.Commerce Year 3 students. | ||||||||
| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Britney Pisani Peter J. Baldacchino Norbert Tabone |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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