MAA303 - Audit and Assurance

Unit details

Year:

2024 unit information

Enrolment modes:Trimester 1: Burwood (Melbourne), Waterfront (Geelong), Online
Trimester 3: Burwood (Melbourne), Online
Credit point(s):1
EFTSL value:0.125
Unit Chair:Trimester 1: Dale Fu
Trimester 3: Paul Sakchuenyos
Prerequisite:

MAA103, MAA261

Corequisite:Nil
Incompatible with:

Nil

Typical study commitment:

Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit.

This will include educator guided online learning activities within the unit site.

Educator-facilitated (scheduled) learning activities - on-campus unit enrolment:

1 x 3 hour on-campus seminar each week.

Educator-facilitated (scheduled) learning activities - online unit enrolment:

1 x 3 hour online seminar (recordings provided) each week.

 

Content

The unit provides a foundation for undertaking a financial statement audit and also introduces other forms of assurance engagements. Students are introduced to an audit from the initial stages where the auditor assesses their ability to undertake the audit in accordance with regulatory and ethical requirements including independence. Students then move through the planning, execution and reporting phases of the audit.

ULO These are the Learning Outcomes (ULO) for this unit. At the completion of this unit, successful students can: Deakin Graduate Learning Outcomes
ULO1

Explain the nature and objectives of assurance engagements, and auditor’s responsibilities when conducting such engagements.

GLO1: Discipline-specific knowledge and capabilities

ULO2

Use professional judgement to critically apply International Standards on Auditing and Assurance, other relevant regulations, and professional requirements (such as ethics and independence) to an assurance engagement.

GLO1: Discipline-specific knowledge and capabilities
GLO4: Critical Thinking

ULO3

Assess the risks of material misstatement in the financial statements and critically consider its impact on the audit strategy. 

GLO1: Discipline-specific knowledge and capabilities
GLO4: Critical thinking

ULO4

Apply the concepts and processes (including quantitative methods) used by audit and assurance service providers to plan, perform and report on assurance engagements in a professional manner. 

GLO1: Discipline-specific knowledge and capabilities
GLO5: Problem solving

ULO5

Identify sufficient and appropriate audit evidence to inform judgments, make decisions, and reach well-reasoned conclusions.

GLO1: Discipline-specific knowledge and capabilities
GLO5: Problem solving

Assessment

Assessment Description Student output Grading and weighting
(% total mark for unit)
Indicative due week

Assessment 1: (Individual) 3 x (Online) Multiple Choice Quiz

Test 1: 30 minutes 
Test 2: 30 minutes 
Test 3: 30 minutes 

10% Week 4, Week 8 & Week 11

Assessment 2: (Individual) Problem Based Written Assignment

2000 words
40% Week 5 & 8
Examination - Specified Resources 2 hours 50% End-of-unit assessment period 

The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.

Hurdle requirement

Hurdle requirement: achieve at least 50% of the marks available on the examination to evidence a minimum proficiency in the aligned accounting discipline learning outcomes included in this unit. 

Learning Resource

The texts and reading list for the unit can be found on the University Library via the link below: MAA303 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.

Unit Fee Information

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