| CODE | ACC4721 | ||||||
| TITLE | Advanced Audit and Assurance | ||||||
| UM LEVEL | 04 - Years 4, 5 in Modular UG or PG Cert Course | ||||||
| MQF LEVEL | 6 | ||||||
| ECTS CREDITS | 10 | ||||||
| DEPARTMENT | Accountancy | ||||||
| DESCRIPTION | Rationale & Learning Objectives This study-unit is meant to enable students to exercise judgement on matters related to modern auditing; gain an ability to interpret situations and to apply advanced auditing techniques; an understanding of the validation of information and representations; an appreciation of the approach to investigate work in the non-audit context; an appreciation for current developments affecting the auditor; and an understanding of the procedures, controls and specific issues involved in the auditing of computer-based accounting systems and exposure to the range of IT tools that are available for use in the audit of those systems. Indicative Syllabus and Study-unit Outline • Regulatory Environment; Maltese regulatory framework for audit and assurance services; money laundering laws and regulations. • Professional and Ethical Considerations: Code of Ethics for professional ccountants; fraud and error; professional liability. • Practice management: quality control; advertising, publicity, obtaining professional work and fees; tendering; professional appointments and assignments. • The audit of historical financial information including: planning, materiality and assessing the risk of misstatement; evidence; evaluation and review. • Group audits; audit-related services; assurance services; prospective financial information; forensic audits; internal audit; outsourcing. • Reporting: auditor’s reports; reports to management; other reports. • Current issues and developments; professional; ethical and corporate governance; information technology; transnational audits; social and environmental auditing; other current issues. • The control environment and Internal controls and security in computer-based accounting systems. • The application of Computer Assisted Auditing Tools and Techniques, including an introduction to continuous auditing. • The auditor’s role in the development of computer-based accounting systems. • Other special assignments for computer auditors. • Issues related to electronic commerce, data protection and other laws affecting computer systems. • Other current topics. Reading List: Latest editions of: Hayes R, Dassen R, Schilder A, Wallage P - Principles of Auditing: An Introduction to International Standards on Auditing (International Federation of Accountants, 2008). Arens A, Elder R, Beasley M - Auditing & Assurance Services: An Integrated Approach – (Prentice Hall). Porter Brenda, Simon John and Hatherly David . Principles of External Auditing, John Wiley and Sons. International Federation of Accountants. International Standards on Auditing. Information Systems Auditing Standards (Information Systems Audit and Control Association). Computer Audit Guidelines – Comprehensive Guide to Auditing in Computerised Environments (Chartered Institute of Public Finance and Accountancy). James E. Hunton, Nancy A. Bagranoff, Stephanie M. Bryant: Core Concepts of Information Systems. Auditing (Wiley, John & Sons, 2003 - Jack J. Champlain: Auditing Information Systems (Wiley, John & Sons, 2003. Articles on Computer Auditing in Information Systems Control Journal, Accountancy, Managerial Auditing Journal, The Accountant and other professional journals. |
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| RULES/CONDITIONS | Before TAKING THIS UNIT YOU MUST TAKE ACC3411 | ||||||
| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | George A. Cassola Frederick Mifsud Bonnici John Zarb |
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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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