Posted: August 31st, 2022

Section A: Teaching, Learning and Assessment

Grasp of Skilled Accounting
Auditing and Assurance

Section A: Instructing, Learning and Assessment

Topic Identify & Code Auditing and Assurance (MP221)
Semester/12 months Semester 2 2022
Credit score Level Worth 10
Period One semester
AQF Degree AQF 9
Pupil Workload 10 hours every week
Pre-Requisite Monetary Accounting and Reporting

Presentation Group

Telephone (02) 8252 9999
Session occasions By Appointment

Instructing strategies/methods
Three hour class contact: 1.5 hour lecture and 1.5 hour tutorial.
This topic adopts the next educating and studying methods:
This topic adopts the next educating and studying methods. These methods embody flipped studying actions the place you apply in-class the fabric which you’ve discovered previous to coming to class. The topic additionally incorporates lively in-class studying experiences the place you collaborate with different college students to debate genuine accounting issues.
Preparation exterior class:
One of many principal studying methods for this topic includes the preparation of assigned materials previous to class. College students are required to learn and replicate upon assigned readings and issues from the textbook, workbook and different sources and are anticipated to use this studying after they come to class.
In-class actions:
Every session makes use of a mixture of lecture and interactive studying actions. The lecture exercise is designed to construct upon your prior studying of assigned materials to make sure that college students comprehend the technical facets of every matter. The lecture exercise will sometimes incorporate in-class dialogue and the applying of the technical content material to genuine accounting issues by means of the completion of in-class workout routines. College students will even be concerned in lively studying experiences as a portion of every seminar will likely be dedicated to the completion of unseen accounting workout routines. These workout routines would require you to use the fabric which you’ve learn and mirrored upon previous to attending class (see above).
Session with topic educating workers:
All topic educating workers can be found for one-on-one session with college students. The precise occasions that workers can be found for session will likely be suggested in seminars by your lecturer and can be discovered on the quilt web page of this define. Assembly workers throughout session supplies a chance for college kids to obtain suggestions on their studying on this topic.
Transient Topic Description
This topic supplies an examination of auditing and its integral position within the up to date apply of accounting along with the authorized atmosphere which impacts upon it. The audit course of is roofed intimately, together with the methodology required to finish a monetary assertion audit. Past the normal monetary assertion audit, the topic additionally considers the growth of assurance providers into danger Assessment, info system reliability, asset safety, detection and prevention of fraud and digital commerce. The topic addresses the factors and skilled requirements used to measure info high quality and integrity, and develops an understanding of professional, moral and authorized necessities and duties in finishing and reporting on assurance duties.

Topic Learning Outcomes
After efficiently finishing this topic, college students will have the ability to:
A Clarify the position of auditors and their duties within the provision of audits on the standard of the monetary statements of corporations
B Overview the moral and authorized duties of auditors in offering audit providers.
C Assess potential weaknesses in an organization’s inside management procedures and determine steps that could be taken to minimise the specter of materials misstatements
D Consider and apply Worldwide Requirements on Auditing to an audit of general-purpose monetary assertion
E Determine and interpret purple flag indicators of fraud inside an organisation and reply appropriately.
F Formulate an opinion and produce a report to speak audit findings.

Weekly Schedule (Semester 2, 2022)
Week Date (Week starting Monday Matters Required Studying
1 18.07.2022 Assurance and Auditing: An introduction Ch. 1
2 25.07.2022 Audit Regulation, Construction of the Career and Auditor’s Legal responsibility Ch. 2 Tutorial 1
three 01.08.2022 Ethics, Independence and Company Governance Ch. 3Tutorial 2
four 08.08.2022 Overview of the Components of the Monetary Report Audit Course of Ch. 4Tutorial three
5 15.08.2022 Planning, Understanding the Entity and Assessing Enterprise Dangers Ch. 5Tutorial 6
6 22.08.2022 Assessing Inherent Dangers and Different Particular Enterprise Dangers Ch 6 Tutorial 5 Task Due
7 29.08.2022 Intra-Semester Break
eight 05.09.2022 Understanding and Assessing Inside Controls Ch eight Tutorial 7
9 12.09.2022 Check of Controls Ch. 9 Tutorial eight
10 19.09.2022 Substantive Exams of Transactions and Balances Ch. 10 Tutorial 9
11 26.09.2022 Completion and Overview Ch.11 Tutorial 10
12 03.10.2022* The Auditor’s Reporting Obligations Ch.12 Tutorial 11 Task Due
13 10.10.2022 Revision
14 17.10.2022**
Examine Week– No courses
15 24.10.2022 Examination Week
16 31.10.2022 Examination Week

* Monday third October is a public vacation. There is not going to be any courses on this date.
** Monday 17th October, make up courses for the Labour day public vacation

Abstract of Assessment
Assessment Job % Related Learning
Outcomes Due Date
Assessment 1: Audit Threat Report
College students are assigned an organization through which they are going to be required to evaluate the audit danger of that organisation. This will likely be offered as a report. The coed ought to show a variety of technical/theoretical/talent growth. 30% This Assessment addresses studying outcomes
B, C, and D Week
6
Assessment 2: Group Task
Complete group project requiring college students to put in writing a transparent and complete report on audit case research type questions. College students are required to submit their project utilizing applicable educational type (referencing, and many others). 30% This Assessment addresses studying outcomes

C, D, E and F Week
12
Assessment three: Last Examination
A 2-hour invigilated examination comprising a number of selection, brief reply idea and sensible questions. The examination covers lecture content material all facets of the topic and exams the scholars’ capacity to use information gained all through the topic to particular issues. It assesses the scholar’s capacity to know the accounting points offered and tips on how to accurately calculate and account for them 40% This Assessment merchandise addresses studying outcomes
A to F Week
15-16
The complete marking standards and rubric might be discovered on this topic’s Canvas website. Please go to the tabs on the left-hand facet of the house web page, click on on ‘Assignments’ and the clicking onto the project. The marking rubric proven there will likely be used to evaluate your work, so please guarantee that you’ve got learn and understood it earlier than commencing work in your project.
Please Notice:
• Because of the evolving nature of the scenario with coronavirus, the Assessment objects and schedule might change
• College students MUST obtain a mark of no less than 40% within the ultimate examination (or ultimate Assessment merchandise if no examination), AND no less than a mark of 50% in whole, to go this topic.
• Topic to Covid-19 restrictions, it’s our intention that every one finish of semester exams will likely be nose to nose on campus (NOT on-line). You may be saved knowledgeable if there may be any change to this.
Detailed Assessment Tips
Assessment 1: Particular person Audit Threat report
Due date: Week 6
Weighting: 30%
Size and Format: 2000-2500 phrase report
Assessment Particulars: College students are assigned an organization through which they are going to be required to evaluate the audit danger of that organisation and current it within the type of a report. The report will even embody info relating to the position and duties of the auditor
Assessment addresses SLOs SLO B: Overview the moral and authorized duties of auditors in offering audit providers.
SLO C: Assess potential weaknesses in an organization’s inside management procedures and determine steps that could be taken to minimise the specter of materials misstatements.

SLO D: Consider and apply Worldwide Requirements on Auditing to an audit of general-purpose monetary assertion

Marking Standards Please discuss with Marking Template 1

Assessment 2: Group Task
College students will likely be anticipated to College students are required to finish a written report. Particulars of the Assessment might be present in Moodle beneath the Assessment 2 folder.
Due date: Week 11
Weighting: 30%
Size and Format: 2500 phrase report
Assessment Particulars: College students are given a complete case research requiring them to critically analyse situations and apply audit ideas and ideas from the data offered within the case research and present an answer. College students are required to finish a written report. Particulars
Assessment addresses SLOs SLO C: Assess potential weaknesses in an organization’s inside management procedures and determine steps that could be taken to minimise the specter of materials misstatements.
SLO D: Determine and interpret purple flag indicators of fraud inside an organisation and reply appropriately.
SLO E: Full, individually and as a part of a workforce, the method of offering assurance and audit providers, together with danger Assessment, audit planning and audit execution.
SLO F : Formulate an opinion and produce a report to speak audit findings.
Marking Standards Please discuss with Marking Template 2

Assessment three: Last Examination
A 2-hour invigilated examination assessing the scholar’s capacity to know statistical fashions and making use of them to unravel issues.
Due date: Week 15 or 16 (Throughout formal examination interval)
Weighting: 40%
Size and Format: 2 hours + 10 minutes studying time. Closed ebook examination
Assessment Particulars: A 2-hour invigilated examination comprising brief reply idea and downside type questions. The examination covers lecture content material all facets of the topic and exams the scholars’ capacity to use information gained all through the topic to particular issues. It assesses the scholar’s capacity to know the accounting points offered and tips on how to accurately calculate and account for them
Assessment addresses SLOs SLO A: Clarify the position of auditors and their duties within the provision of audits on the standard of the monetary statements of corporations
SLO B: Overview the moral and authorized duties of auditors in offering audit providers.
SLO C: Assess potential weaknesses in an organization’s inside management procedures and determine steps that could be taken to minimise the specter of materials misstatements.
SLO D: Determine and interpret purple flag indicators of fraud inside an organisation and reply appropriately.

SLO E : Full, individually and as a part of a workforce, the method of offering assurance and audit providers, together with danger Assessment, audit planning and audit execution
SLO F: Formulate an opinion and produce a report to speak audit findings
Marking Standards Please discuss with Marking Template three

Textual content and References
Prescribed textual content
Homosexual, G and Simnett, R. (2020). Auditing and Assurance Providers in Australia, (eighth Version), McGraw-Hill Training Australia.
Beneficial Studying
Arens, A., Finest, P., Shailer, G., Fiedler, B., Elder, R., and Beasley M. (2017). Auditing, Assurance Providers and Ethics in Australia, (10th Version). Pearson Australia
Leung, P., Coram, P., Cooper, B., and Richardson, P. (2019). Audit and Assurance, (1st Version). Wiley
Moroney, R., Campbell, F. & Hamilton, J. (2020). Auditing: A Sensible Method, (4th Version). Australia: Wiley.
ICAA, 2021, Monetary Reporting Handbook 2021, John-Wiley & Sons
ICAA 2021 , Auditing , Assurance and Ethics Handbook 2021 , John Wiley &Sons
On-line Sources and Readings
Australian Accounting Requirements Board http://www.aasb.com.au/ Skilled Accounting Our bodies
https://www.charteredaccountantsanz.com/
https://www.cpaaustralia.com.au/
https://www.publicaccountants.org.au/
Auditing and Assurance Requirements Board (AuASB) www.auasb.gov.au/Dwelling.aspx
Australian Prudential Regulation Authority (APRA) www.apra.gov.au
Australian Securities and Funding Fee (ASIC) www.asic.gov.au
Australian Accounting Analysis Basis (AARF) www.aarf.asn.au
Monetary Reporting Council www.frc.gov.au

Detailed descriptors for every grade
Excessive Distinction (H)
An analytical piece of labor that gives originality in synthesis or Assessment, and utilises a large number of related sources to justify arguments and produce a important and clever piece of labor. Work of this normal would require flawless referencing and will comprise few, if any, grammatical errors. All areas of standards will likely be of a wonderful normal.
Distinction (D)
Comprehensively analyses the Question Assignment, understands and compares approaches systematically, important feedback on literature, glorious examples and illuminating insights. Work of this normal will likely be constant and clear with applicable referencing and use of grammar all through.
Credit score (C)
Analytical and explanatory dialogue, some theoretical insights, good use of sources and examples, centered argument that might be improved. Work of this normal might obtain good ranges of efficiency on a few of the standards however not all. The dialogue will tackle the Question Assignment however may lean in direction of description fairly than Assessment.
Move (P)
Competent descriptive dialogue, some grasp of the subject, coherent type and composition, primarily a superficial dialogue. Work of this normal may solely embody a restricted vary of supply materials and present info fairly than argument. Construction and presentation may require enchancment and the introduction and conclusion won’t clearly convey the place and findings of the creator.
Fail (F)
Dialogue fails to reply the set Question Assignment or depends on few, if any, supply materials. Reply accommodates grammatical errors and/or inappropriate referencing approach and, after all, an absence of any referencing. Work of this normal is commonly transient and is unable to show a transparent understanding of the subject and related points. Responses fail to satisfy the training targets for the Assessment.
Plagiarism
A similarity report supplies an vital indicator of whether or not a pupil’s work is unique or plagiarised. Typically, a similarity report of greater than 25% warrants shut scrutiny to evaluate whether or not the issue pertains to poor writing approach or plagiarism.

Canvas and Turnitin
This topic will use the Canvas studying administration system. Canvas might be accessed by first clicking onto the Pupil Portal hyperlink on the Win house web page, and then clicking onto Canvas.

The Canvas house web page for this topic will embody the topic define, info on Assessment objects and different topic info, a discover board, and a weekly folder of related course supplies, together with Energy Level slides and a tutorial information for every matter.

All communications with college students within the topic will use the Discover Board and the Canvas electronic mail system. Emails will use solely college students’ Win electronic mail addresses.

Grades will even seem within the My Grades part of Canvas as soon as marking for every Assessment has been accomplished.

It’s an expectation that every one college students will test the topic’s Canvas website (and their Win pupil electronic mail) regularly every week.

Assessments will likely be submitted utilizing the drop bins which might be included within the Canvas website for this topic. All assignments will likely be topic to checking utilizing Turnitin textual content matching applications. Turnitin is a software program product that experiences on similarities between your paper and different paperwork. Turnitin is utilized by over 1000 organisations, together with universities and schools world wide. They’re an vital software to help college students with their educational writing by selling consciousness of plagiarism and contract dishonest.

While you submit your project by means of the Canvas drop field, you’ll obtain an originality report, primarily based on an identical of your work to that in Turnitin’s intensive databases. If you happen to submit your project inside an inexpensive time earlier than the due date, you’ll have time to behave on the originality report, if vital. For instance, a excessive matching proportion might imply that you should absolutely acknowledge your supply supplies, or it might imply that you should higher paraphrase the supply supplies in your individual phrases. Subsequently, in the event you use Turnitin on this means, it may be of appreciable help in serving to you to enhance your writing abilities. The hot button is to permit sufficient time to make any adjustments after viewing the originality report – don’t depart your submission till the final minute!

Section B – Extra Institute Data
Grade Descriptions
College students could also be awarded a uncooked numerical mark for every topic which is able to then be transformed to one of many following:
HD – Excessive Distinction 85% and above
D – Distinction 75 – 84%
C – Credit score 65 – 74%
P – Move 50 – 64%
F – Fail – under 50%
CF – Obligatory Fail (this can be a mark of over 50%, nevertheless the scholar didn’t obtain no less than 40% within the ultimate Assessment merchandise)
For extra info on please discuss with the Institute’s coverage ‘Pupil Assessment Coverage and Process’ out there on the Institute’s web site.
Task Submissions
College students are required to submit Assessment objects on the time and date specified on this Topic Define. Assessment objects submitted after the due date will likely be topic to a penalty until the Lecturer or Course Coordinator has given prior approval in writing for an extension of time to submit that merchandise.
Assessments needs to be submitted within the type specified within the topic define or as notified by the Lecturer. The place Assessment objects are submitted electronically, the date and time the e-mail was obtained will likely be thought of the date and time of submission. Written papers or different bodily submissions are to be time and date stamped as a file of receipt.
College students whose capacity to submit or attend an Assessment merchandise is affected by illness, misadventure, or different circumstances past their management, could also be eligible for particular consideration. No consideration is given when the situation or occasion is unrelated to the scholar’s efficiency in a element of the Assessment, or when it’s thought of to not be severe.
Please discuss with the Institute’s coverage ‘Pupil Assessment Coverage and Process’ out there on the Institute’s web site for particulars.
Task Extensions and Penalties
Assignments have to be submitted on the due date. Late assignments will incur a penalty as outlined within the Institute’s coverage ‘Pupil Assessment Coverage and Process’ out there on the Institute’s web site.

Tutorial Misconduct
Tutorial misconduct includes dishonest, collusion, plagiarism or another conduct that intentionally or inadvertently claims possession of an thought or idea with out acknowledging the supply of the data. This consists of any type of exercise that negates the educational integrity of the scholar or one other pupil and/or their work.
Plagiarism happens when college students fail to acknowledge that the concepts of others are getting used. Particularly it happens when:
• different folks’s work and/or concepts are paraphrased and offered with out a reference;
• different college students’ work is copied or partly copied;
• different folks’s designs, codes or photos are offered as the scholar’s personal work;
• phrases and passages are used verbatim with out citation marks and/or with out a reference to the creator or an online web page;
• lecture notes are reproduced with out due acknowledgement.
Dishonest happens when a pupil seeks to acquire an unfair benefit in an examination or in different written or sensible work required to be submitted or accomplished for Assessment.
Collusion (unauthorised collaboration) includes working with others with out permission to provide work which is then offered as work accomplished independently by the scholar. Collusion is a type of plagiarism. College students mustn’t knowingly enable their work to be copied.
There are substantial penalties for educational misconduct. Please discuss with the Institute’s ‘Tutorial Integrity and Honesty Coverage and Process’ out there on the net website for extra info.
Referencing Procedures
The Institute has adopted the APA Model for the referencing of sources. Please discuss with the Institute’s website or the library for info on tips on how to reference utilizing the APA type.
Topic Analysis
On the finish of every semester all college students will likely be requested to fill in a topic analysis type. This info will help us in improving improve the standard of supply.
Assessments will embody questions in regards to the content material, the Assessment, supply mode and different options. Additionally, you will have a chance to make open-ended feedback. Topic Assessments are vital to us and are taken significantly so please make sure that your responses precisely replicate how you’re feeling. All Assessments are nameless to make sure privateness.

Learning Help Providers
In case you have any queries or requests in regards to the course and this topic particularly, it is best to first strategy your Lecturer or Tutor. You might also strategy the Course Coordinator in case you are unable to resolve your concern with the Lecturer or Tutor. Contact particulars are offered under.
The Institute desires to make sure that you’ve the perfect studying atmosphere out there to maximise your probabilities to do nicely within the course. We now have workers readily available to offer pupil Help and help with administrative issues when required. We even have a Pupil Success and Wellbeing Centre that may present help and Help with any private issues. Contact particulars are offered under.
In case you are experiencing language difficulties, please focus on this together with your lecturer who might refer you to an English language Centre for added help. Relying on the extent of Help required, there could also be some further prices imposed.
The Institute has a Pupil Success and Wellbeing Centre. As a part of this centre, there are on-going workshops out there in the event you want help with research abilities, presentation abilities, writing abilities, tips on how to reference info sources utilizing the APA type and many others. Please test with the Examine Abilities Advisor to entry these providers.
Previous to your enrolment, the Institute makes each effort to make sure that your verbal and written abilities in English are on the applicable stage to efficiently full a bachelor’s diploma. Every of the themes will likely be delivered by lecturers who’re delicate to the wants of scholars from a NESB. Because of this, vital vocabulary will likely be pre-taught. However, in case you are experiencing language difficulties, chances are you’ll be referred by your lecturer to the English language Centre or the Learning Help Centre for added Help.
All lecturers are instructed to fastidiously monitor every pupil’s language proficiency within the first 4 weeks of topic supply utilizing the “Participation” mode of Assessment, to find out if there are any issues together with your understanding and utilization of written and spoken educational English. By way of these Centres, the Institute provides specifically developed modules of research designed to reinforce your language and research abilities. The extent of language Help you’ll require will likely be decided by our specifically educated workers, certified “IELTS” testers, so as to guarantee that you’ve got all the mandatory Help to reach your research.
Relying on the extent of Help required, there could also be some further prices imposed.

Extra Contacts

Keri Spooner keri.spooner@win.edu.au
Dean
Erick Opena Erick.opena@win.edu.au
Registrar
Wendy Wu wendy.wu@win.edu.au Helpant Registrar of Increased Training
Bella Carr bella.carr@win.edu.au
Examine Abilities Advisor
Christopher O’Neill chris@win.edu.au
Zoom and On-line know-how Help
Iris Weng iris.weng@win.edu.au Tutorial Help Supervisor
Sarah Edwards sarah.edwards@win.edu.au Library Officer
Steve Li steve.li@win.edu.au IT Supervisor
Tavia Xiang Tavia.xiang@win.edu.au
Accounts

Wentworth Institute of Increased Training, 302 Elizabeth Avenue, Sydney
http://www.win.edu.au/
Increased Training CRICOS code: 03279M

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Tags: Learning and Assessment, Section A: Teaching