Core Module Information
Module title: Auditing

SCQF level: 09:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: ACC09109
Module leader: Tim Burrows
School The Business School
Subject area group: Accounting and Finance

To study this modules you will need the learning equivalent to the module listed or to have passed this module

Corporate Accounting
Equivalent course overseas or preparation of primary financial statements for limited companies in accordance with accounting regulations

Description of module content:

Rationale of auditing.
Legal and professional framework of auditing.
Audit risk and materiality.
Analytical reviews, substantive testing and audit evidence.
Evaluation and testing of control procedures.
Sampling methods in audit testing.
Letters to auditee management.
Audit of non-current and current assets, liabilities, income, expenditure, reserve movements and reserve balances.
Events after the reporting period, going concern questions and audit closure procedures.
Audit reports.
Auditing postulates.
Ethics, responsibilities and public expectations of auditors.

Learning Outcomes for module:

LO1: Explain the legal requirements for auditing in the UK and the framework for the professional regulation of auditors.
LO2: Interpret the underlying theory behind the audit process, the purpose of external audit and the essential postulates of auditing
LO3: Assess the quality and relevance of audit evidence
LO4: Appraise financial control and recording systems and the value of their outputs as audit evidence
LO5: Recommend improvements to financial control system

Full Details of Teaching and Assessment
2022/3, Trimester 2, FACE-TO-FACE, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: FACE-TO-FACE
Location of delivery: CRAIGLOCKHAR
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Tim Burrows
Module Organiser:

Learning, Teaching and Assessment (LTA) Approach:
Lectures and reading provide knowledge and draw attention to potential issues. Understanding of the issues and possible methods of auditing is reinforced by examples in tutorials. In advance of every tutorial you will prepare answers to tutorial questions in the module guide provided. In the tutorial you will discuss your pre-prepared answers with other students. You will obtain key knowledge about the role of the auditor and the theory and practice of auditing from the course textbook and you will receive lectures on the rationale for auditing and answer tutorial questions about the purpose of an audit and auditors' legal responsibilities (LO1), and further theoretical questions about the postulates and essential principles and processes of auditing (LO2). In further lectures, supported by your reading from the textbook, you will learn about the assessment of the quality of evidence and in tutorial exercises you will assess the truth and fairness of financial statements based on the evidence.(LO3). Further lectures and tutorials will deal with audit risk and the assessment of the control processes within the organisation being audited (LO4). You will work through tutorial exercises in which you will evaluate internal controls and make recommendations to improve controls (LO5).

You will develop a logical and practicable approach to the task of conducting audit work which fulfils the goals of auditing.

You will develop general skills in the logical analysis of information and evidence. The ability to communicate requirements to others will also be developed.

The area of audit regulation is in a constant state of change and the module content will be revised to keep up to date with the regulatory environment.

A study pack will be supplied detailing topic areas with reading references and tutorial questions, this information together with lecture slides, examples and web links will be available via Moodle.

This module will be taught using International Standards on Auditing and financial accounting terminology and practice will follow International Financial Reporting Standards.

Formative Assessment:
You will receive feedback on your answers to tutorial questions

Summative Assessment:
30% of Marks: An individual coursework report of 1500 words
70% of Marks: A 3-hour individual unseen written examination
There will be two components of assessment an individual report and a written closed book individual examination. The report will be based on a case study scenario and will require you to demonstrate the ability to conduct an exercise related to audit work. This reflects the need for all professional auditors to be able to present their findings in a clear and concise format. The examination will comprise a mix of objective, scenario-based and essay style questions which require you to demonstrate the ability to explain and apply auditing theories and principles to the conduct of audit work.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 24
Face To Face Practical classes and workshops 24
Face To Face Centrally Time Tabled Examination 3
Independent Learning Guided independent study 149
Total Study Hours200
Expected Total Study Hours for Module200

Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Report 30 3 - 5 8 HOURS= 00.00, WORDS= 1500
Centrally Time Tabled Examination 70 1-5 1 HOURS= 3, WORDS= 0
Component 1 subtotal: 30
Component 2 subtotal: 70
Module subtotal: 100

Indicative References and Reading List - URL:
Contact your module leader