Audit and Assurance - MAN00036I
Related modules
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 2 2025-26 |
Module aims
This module places a significant emphasis on the pivotal role and activities of auditors. It is particularly pertinent for those aspiring to become Chartered Accountants. Nevertheless, the content holds relevance for a broader spectrum of career paths. You may find it beneficial if you aim to:
- Pursue a role involving substantial financial transactions, such as within the finance or treasury department of a company or an investment bank.
- Engage in a non-financial management role, be it in areas like marketing or human resources.
- Venture into the field of management consulting.
- Embark on the journey of entrepreneurship and start your own business.
The module is aimed to:
- Introduce key concepts of assurance, governance, and ethics.
- Clarify the distinct roles of management and auditors.
- Foster an understanding of the assurance process, encompassing the assessment of internal control and the gathering of evidence for assurance engagement.
- Introduce the fundamental notions of corporate governance and responsibility.
Module learning outcomes
1. Effect of Internal and Stakeholder Needs on Business: Elaborate on the impact of internal and stakeholder needs concerning governance, corporate responsibility, sustainability, and ethics within a business.
2. Roles and Responsibilities in Corporate Governance: Discuss the diverse roles and responsibilities of various stakeholders within the framework of corporate governance.
3. Legal and Professional Implications: Identify and expound upon the legal and professional repercussions associated with activities such as whistleblowing, fraud, bribery and corruption, money laundering, and adherence to data protection laws.
4. Assurance Engagement Types and Levels: Describe different categories of assurance engagement and elucidate the varying levels of assurance that can be delivered.
5. Assurance Process Application: Detail the process of assurance, including aspects such as negotiating terms, planning assignments, documenting work, and reporting on assignments, especially in straightforward scenarios.
6. Significance of Internal Controls: Articulate the significance of internal controls within organisations and pinpoint weaknesses present in internal control systems.
7. Methods for Obtaining Evidence in Assurance Engagements: Explain and apply diverse methods employed during assurance engagements to acquire sufficient and pertinent evidence supporting conclusive findings.
Module content
| 1. Concept and need for assurance 2. Obtaining an engagement 3. Planning an engagement 4. Audit evidence and Sampling 5. Internal control and internal audit 6. Revenue 7. Purchase 8. Payroll 9. Documentation and substantive procedures 10. Written representation, substantive procedures and Audit completion 11. Professional ethics and Revision |
Indicative assessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Module feedback
Feedback will be given in accordance with the University Policy on feedback in the Guide to Assessment as well as in line with the School policy.
Indicative reading
The Audit Process – Principles, Practice and Cases by Iain Gray and Stuart Manson, Fifth edition, Cengage.
ICAEW website
ACCA website