Module Code: H8ADAS
Long Title Auditing and Assurance
Title Auditing and Assurance
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 10
Module Coordinator: COLETTE DARCY
Module Author: CIARA DEANE
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Evaluate the respective responsibilities of directors and auditors in the context of corporate governance and statutory audit
LO2 Critically assess the related ethical and regulatory environment
LO3 Evaluate the importance of the risk assessment process and demonstrate how to use in the audit process
LO4 Demonstrate knowledge of the audit approach to the main business cycles including the concept of audit evidence and controls testing.
LO5 Critically assess the principles underpinning audit reporting and the different types of audit opinion that may be issued
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements

Programme entry requirements  
 

Module Content & Assessment

Indicative Content
Audit and Assurance Environment
The purpose and scope of external audit. Understand and appreciate the legal and business environment in which audit and assurance is conducted. an understanding of the respective responsibilities of directors and auditors in the context of corporate governance and statutory audit. An understanding and appreciation of the related ethical and regulatory environment. An understanding of the auditing standard setting process. An overview of the stages involved in the audit process and an understanding of the role of staff auditors within this.
The Risk Assessment Process
An understanding of the risk assessment process. The concept of audit risk and the relationship between inherent risk, control risk and detection risk. The concept of materiality and the implications of an item being material or not. Design audit procedures to reduce the risk of material misstatement to an acceptable level. Understanding the entity and its environment. The ability to assess specific systems of internal control with a view to identifying the critical risks and related controls. The use of analytical procedures. The impact of fraud and fraud risk assessment procedures.
Audit Planning
An understanding of the audit process and its importance in overall context of audit and assurance. Overall audit strategy. The continuous audit process. Distinguish between interim and final audit. The scope of an audit. The nature and timing of audit procedures.
Audit of Financial Statement Line Items
An appreciation of evidence gathering principles and procedures. The ability to select and apply appropriate audit procedures to typical profit or loss account and statement of financial position account captions. Audit of non-current assets, investments, bank and cash, inventory, revenue and receivables, purchases and payables, provisions and capital. The ability to select and apply audit procedures to typical accounting estimates. An understanding of the use of big data in IT auditing.
Audit Completion
A clear understanding of the framework for concluding on an area of audit work and the ability to draw appropriate conclusions based on a description of audit evidence available. An understanding of the principles underpinning audit reporting. An understanding of the matters that do and do not affect the auditor’s opinion. An understanding of the most likely circumstances where, in practice, audit reports may need to be modified / qualified
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Continuous Assessment % of total: 30
Assessment Date: n/a Outcome addressed: 1,2,3
Non-Marked: No
Assessment Description:
Candidates are required to complete in-class either an individual presentation or a group presentation on a current audit & assurance topic; to facilitate a classroom discussion on the topic; and to submit a written report to support the presentation
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 2,4,5
Non-Marked: No
Assessment Description:
Final Examination.
No Workplace Assessment
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
Reassessment Description
Candidates will attempt the repeat assessment for the module, if they do not successfully pass the module. Learners are required to attempt all assessments attaching to a module. For those modules where all learning outcomes are assessable with a final examination, the student does not have to re-sit failed individual CA components.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Classroom and demonstrations 2 Every Week 2.00
Lecturer Supervised Learning Mentoring and small-group tutoring 2 Every Week 2.00
Directed Learning Directed e-learning 2 Every Week 2.00
Independent Learning Independent learning 8 Every Week 8.00
Total Weekly Contact Hours 6.00
 

Module Resources

Recommended Book Resources
  • Martin Nolan & Christine Nangle. External Auditing and Assurance laterst Ed.
  • Gray, Iain and Manson, Stuart. The Audit Process, Principles, Practice and Cases latest Ed.
Supplementary Book Resources
  • Cosserat G.W. Modern Auditing latest Ed.
  • Dunne John,. Auditing Theory & Practice latest Ed.
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: