ACCTN572-22A (HAM)

Advanced Auditing

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: maxine.hayward@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

Student Representative(s)

Lab Technician(s)

Librarian(s)

: yilan.chen@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
  • Extensions starting with 4, 5, 9 or 3 can also be direct dialled:
    • For extensions starting with 4: dial +64 7 838 extension.
    • For extensions starting with 5: dial +64 7 858 extension.
    • For extensions starting with 9: dial +64 7 837 extension.
    • For extensions starting with 3: dial +64 7 2620 + the last 3 digits of the extension e.g. 3123 = +64 7 262 0123.
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Paper Description

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In this course we aim to develop an awareness of auditing by applying theory to audit practice and audit decision-making. You will focus on the role of the external auditor, professional expectations, professional ethics, and regulation related to the audit of financials statements. We will emphasise the key concepts of the audit process and apply audit techniques to cases.

This paper meets the academic requirements for entry into the accounting profession covering material classified as both introductory and intermediate.

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Paper Structure

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1 two-hour lecture per week (including in-class activities during lectures)

1 one-hour tutorial per week (one extra hour is available should you need extra one-on-one assistance from the tutor)

NOTE WE WILL SHIFT LECTURES AND TUTORIALS ONLINE DEPENDING ON THE COVID SITUATION. ALL LECTURES AND TUTORIALS CAN BE ACCOMMODATED ONLINE. PLEASE REGULARLY CHECK YOUR EMAIL AND CLASS COMMUNICATION FROM YOUR LECTURER SHOULD WE MAKE THIS SHIFT.

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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • Apply the legal and professional requirements relating to the conduct of audits in New Zealand context
    Linked to the following assessments:
    Test 1 (2)
  • Demonstrate an understanding of the purpose of auditing
    Linked to the following assessments:
    Test 1 (2)
  • Explain the professional requirements relating to auditors, including ethics, quality control and independence
    Linked to the following assessments:
    Test 1 (2)
  • Describe the objectives and phases involved in performing an audit of general-purpose financial statements
    Linked to the following assessments:
    Test 2 (3)
  • Apply selected International Standards on Auditing (ISA) applicable to an audit of general-purpose financial statements
    Linked to the following assessments:
    Test 2 (3)
  • Practice real world auditing by applying ISA to selected integrated cases
    Linked to the following assessments:
    Integrated case study assignment 1 (4)
    Integrated case study assignment 2 (5)
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Assessment

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The assessments in this paper are designed to:

  1. Evaluate your understanding of auditing concepts and ability to communicate this understanding.
  2. Evaluate your ability to apply auditing concepts and theory to the practice of auditing in the business world.
  3. Assess your knowledge and application skills.
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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Diagnostic test
28 Mar 2022
5:00 PM
0
2. Test 1
11 Apr 2022
5:00 PM
30
  • In Class: In Lecture
3. Test 2
23 May 2022
5:00 PM
30
  • In Class: In Lecture
4. Integrated case study assignment 1
20 Jun 2022
5:00 PM
20
  • Online: Submit through Moodle
5. Integrated case study assignment 2
27 Jun 2022
5:00 PM
20
  • Online: Submit through Moodle
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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1. Arens, Best, Shailer, Fiedler, Elder, and Beasley (2017). Auditing, Assurance Services & Ethics in Australia.(10th Edition). Pearson Australia. (e-book available)

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Recommended Readings

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XRB Auditing Standards available from https://xrb.govt.nz under the tab Auditing and Assurance Standards.

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Online Support

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If you require online support for myweb please email helpdesk at: itshelp@waikato.ac.nz
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Workload

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1 three-hour lecture per week

This paper will require substantial time to be spent outside of class working on readings, activities, cases, and homework. For every hour spent in class, you are expected to spend at least 3.5 hours of study/preparation. This includes, at a minimum, 3 hours per week working with your group on the case assignments.
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Linkages to Other Papers

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Prerequisite(s)

Prerequisite papers: ACCT570 or ACCTN570

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ACCT572

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