Subject Outline

Subject Name: AUDITING AND ASSURANCE SERVICES

Subject Code: CO5118:03
Study Period: SP1
Study Mode: Internal
Campus: Cairns / Townsville
Subject Coordinator: Sue Ciccotosto

Pre-requisites:
e.g., For prerequisites for EV3010, see

https://secure.jcu.edu.au/app/studyfinder/?subject=CO5118

Note that where a subject is offered across different campuses and/or modes and/or teaching periods within the one
calendar year, the learning outcomes will be the same and, other than in exceptional circumstances, there will be no
variation in assessment type or weighting. Any minor variation in assessment type or weighting will be authorised
through relevant School/Faculty processes and by Head of School, and documented in the subject outline/s, prior to
the commencement of the subject. The design of course content and learning experiences across different
campuses and/or modes and/or teaching periods within the one calendar year will ensure equivalent opportunity
for students to achieve learning outcomes.

This subject outline has been prepared by Susan Ciccotosto for the School of Business, Faculty of Law, Business
and the Creative Arts, James Cook University. Updated 11 February 2014.
Q1. This subject is offered across more than one campus and/or mode and/or teaching
period within the one calendar year.

Yes

No

Q2. If yes [Q1], the design of all offerings of this subject ensure the same learning
outcomes and assessment types and weightings.

Yes

No

Q3. If no [Q2], _________________________ has authorised any variations, in terms of equivalence.

Copyright 2013
This publication is copyright. Apart from any fair dealing for the purpose of private study, research, criticism, or review as
permitted under the Copyright Act, no part may be reproduced by any process or placed in computer memory without written
permission.

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Contents

Section 1. Subject at a Glance ................................................................................................................. 4

1.1 Staff contact details ........................................................................................................................... 4
1.2 Student participation requirements ................................................................................................... 4
1.3 Key dates .......................................................................................................................................... 4
Section 2. Subject Details ........................................................................................................................ 5
2.1 Subject description ............................................................................................................................ 5
2.2 Subject and course learning outcomes ............................................................................................. 5
2.3 Learning and teaching in this subject ................................................................................................ 6
2.4 Student feedback on subject ............................................................................................................. 6
2.5 Subject resources and special requirements .................................................................................... 6
Section 3. Assessment Details ................................................................................................................ 7
3.1 Requirements for completion of subject ............................................................................................ 7
3.2 Feedback on student learning ........................................................................................................... 7
3.3 Assessment Tasks ............................................................................................................................ 8
Section 4. Other Information about Assessment and Student Support ............................................ 10
4.1 Submission and return of assessment ............................................................................................ 10
4.2 Plagiarism and referencing ............................................................................................................. 10
4.3 Important advice relating to examinations ....................................................................................... 11
4.4 Student support ............................................................................................................................... 11
Section 5. Subject Calendar .................................................................................................................. 12
Section 6. Assessment Criteria Sheets ................................................................................................ 13

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Section 1. Subject at a Glance

The following summary provides a quick reference to the most important aspects of this subject. Please ensure
that you have read the entire subject guide in full.

1.1 Staff contact details

The following staff members are responsible for the preparation or delivery of this subject. Please contact the
relevant staff member if you have any concerns during the study period. The subject will be teleconferenced
between the Cairns and Townsville campuses on alternative weeks. The sessions will be recorded and placed
on line. Please see the subject calendar on page 12 for information regarding on which campus the subject will
be presented.

Teaching team

Staff
member

Campus

Subject
Coordinator

Sue
Ciccotosto

Cairns

Lecturer

Sue
Ciccotosto

Cairns /
Townsville

Consultation
times*

Room

Phone

Email

A1.215

4232 1496

susan.ciccotosto@jcu.edu.au

Tues 10-12 am

4232 1496

susan.ciccotosto@jcu.edu.au

Tues 5 - 6 pm

*Other consultation times by appointment only.

1.2 Student participation requirements

The JCU Learning, Teaching and Assessment Policy (4.3) indicates that, a 3 credit point subject will require a
130 hour work load of study-related participation (including class attendance) over the duration of the study
period, irrespective of mode of delivery. This work load comprises timetabled hours and other attendance
requirements, as well as personal study hours, including completion of assessment requirements. Note that
attendance at specified classes may be a mandatory requirement for satisfactory completion of some subjects
(Learning, Teaching and Assessment Policy, 5.9); and that additional hours may be required per week for those
students in need of English language, numeracy or other learning support.

Key subject activities

Lecture

Time

Room/
Location

Day/ Date

6 - 9 pm

Cns: B1.108
Tsv: 018-002C.

Monday

For information on the days and times when lectures, tutorials, workshops, etc. are scheduled for all of your
subjects, visit JCU Lecture Timetables at http://www.jcu.edu.au/ttable/

1.3 Key dates

A summary of the assessable items for CO5118 is provided in the table below. Please read through the
assessment details presented later in this subject guide.

Supervised
individual
assessment

Item

Weight

Due Date

Census date

see 2014 Study Period and

Census Dates

Last date to withdraw without academic

penalty

see 2014 Study Period and

Census Dates

1.Online test

10%

22nd / 23rd March

2.Written report: Risk assessment of a new

client
Oral report

25%

24th April: Written report

3. Online test
3. Final Exam
School of Business

5%

Session 10: Oral report

10%

17th /18th May

50%

2 4 pm, 11th June. Room TBA

CO5118:03 Auditing and Assurance Services

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You must obtain a final mark of at least 50% to pass the subject. In addition, the expectation is to obtain at
least an average of 50% over all invigilated components (supervised individual assessment) within a subject to
pass the subject overall. Any student who does not achieve a pass in the invigilated components may, in
exceptional circumstances, be reviewed by the School Assessment Committee.
Students who have completed less than 100% of the assessment will be subject to review by the School
Assessment Committee which could result in an overall fail.

Section 2. Subject Details

2.1 Subject description
This subject examines the underlying concepts and practice of auditing, the collection and evaluation of audit
evidence and the audit reporting process. The subject also develops an understanding of the legal environment
in which the auditor works and focuses on the requirements of financial statement audit under the Corporations
Act (2001)(Cth). Topics examined include the rights, duties and responsibilities of auditors; risk analysis; audit
plans; audit programmes; sampling; tests of controls; substantive tests; and auditing principles for Electronic
Data Programs.
This subject is a core requirement for the Accounting Major. It builds on previous work undertaken in all other
accounting subjects in the degree, with a special focus on knowledge you have gained in CO:5117: Introduction
to Accounting. Accounting systems collect and collate information for reporting, compliance and decision-making
purposes. It is the role of the auditor to test those systems to assure that the output they give can be relied upon
by users.

2.2 Subject and course learning outcomes

The following table shows the alignment between the learning outcomes at the course and subject level and
assessment. Students who successfully complete this subject will be able to
Subject Learning Outcomes

Assessment

1. To familiarise students with current developments in audit

practices and research

Exam

2. To develop students' understanding of the audit function and of

the reasons for an audit

Online tests, final exam

3. To examine techniques used by auditors, including risk

analysis, evidence collection and evaluation, and audit reporting

Assignment, final exam

Course Learning Outcomes

Assessment

K3 Evaluate sustainable economic, social and environmental

practices and value systems from accounting disciplinary
perspectives

Online tests / Final exam

S3 Integrate advanced theoretical and technical accounting

knowledge which includes a selection of auditing and assurance,
finance, economics, quantitative methods, information systems,
commercial law, corporation law and taxation law
S4 Present complex business analyses and information
appropriately to both accountants and non-accountants using:
(a) effective oral presentation skills
(b) clear and fluent written communication

Assignment

A2 Exercise judgement under minimal supervision to solve

emerging and/or advanced accounting problems in complex
contexts using social, ethical, economic, regulatory and global
perspectives

Final Exam

Assignment

K Knowledge; S Skills; A Application of Knowledge & Skills

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2.3 Learning and teaching in this subject

This subject uses a combination of approaches to teaching and learning, including both student centred and
teacher directed approaches. The content of the subject is disseminated using a variety of teaching strategies
including case studies, discussions, simulations, and readings. At the beginning of each lecture, you will be
made aware of the expected learning outcomes, how such outcomes are relevant to the world of business, and
the resources that support the learning outcomes of this subject.
You are expected to be an active participant in the learning process and are encouraged to participate in
lectures and undertake weekly readings.
Beyond the classroom, your learning experience will be greatly enhanced if you collaborate and share ideas with
other students. One easy way to achieve this is to form a study group with 2-3 other students with similar needs
and expectations. Your lecturer can assist with this.

2.4 Student feedback on subject

As part of our commitment at JCU to improving the quality of our courses and teaching, we regularly seek
feedback on your learning experiences. Student feedback informs evaluation of subject and teaching strengths
and areas that may need refinement or change. YourJCU Subject and Teaching Surveys provide a formal and
confidential method for you to provide feedback about your subjects and the staff members teaching within
them. These surveys are available to all students through LearnJCU. You will receive an email invitation when
the survey opens. We value your feedback and ask that you to provide considered feedback for each of your
subjects.

2.5 Subject resources and special requirements

Prescribed Texts
Arens, A.A, Elder, R. J., Shailer, G. E. P., Fiedler, B. A. and Beasley, M.(2010). "Essentials of Auditing,
Assurance Services and Ethics in Australia", Pearson, Frenchs Forest
Fieldler, B. A. (2010). "Student Guide to Accompany Essentials of Auditing, Assurance Services and Ethics in
Australia", Pearson, Frenchs Forest
Further Reading

Technical Editors: Mark Shying and Ram Subramanian (2012): Accounting Handbook (Pearson)
or

Technical Editor: Claire Locke (2012): Financial Reporting Handbook (Wiley)

Technical Editor: Stephanie Kemp (2012) Auditing and Assurance Handbook (Wiley)
or

Technical Editors: Amir Ghandar and Eva Tsahuruidu (2012) Auditing, Assurance and Ethics (Pearson)

Online and Electronic Resources

Refer to online resources in available in conjunction with text.
Other online resources include:
Australian Auditing Standards, which can be found at:
http://www.auasb.gov.au/Standards-and-Guidance/Australian-Auditing-Standards.aspx
Australian Accounting Standards, which can be found at:
http://www.aasb.gov.au/Pronouncements/Current-standards.aspx
Online questions attached to "Auditing, Assurance and Ethics" can be found at:
http://wps.pearsoned.com.au/au_be_cpa_auditinghb_12/
Online questions attached to "Accounting Handbook" can be found at
http://wps.pearsoned.com.au/au_be_cpa_acctnghb_12/217/55625/14240072.cw/index.html
The following libguides available from the JCU Library website will provide details on referencing, plagiarism,
findings marketing books and journals
http://libguides.jcu.edu.au/referencing
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http://libguides.jcu.edu.au/content.php?pid=63980&sid=472370
Learning & Writing Skills workshops and notes to assist with writing an essay; presentations etc
http://www.jcu.edu.au/learningskills/index.htm
Subject Website on LearnJCU
Access the subject website through LearnJCU at learnjcu.jcu.edu.au for lecture notes, tutorial and workshop
answers, handouts, assessment summaries and more!
Login using your JCU email username and password. The site for this subject is opened to all participants
enrolled in the subject at least seven days prior to the commencement of the subject. Browser requirements for
LearnJCU are provided on the opening webpage of LearnJCU.

Section 3. Assessment Details

3.1 Requirements for completion of subject
In order to pass this subject, you must:
You must obtain a final mark of at least 50% to pass the subject. In addition, the expectation is to obtain at
least an average of 50% over all invigilated components (supervised individual assessment) within a subject to
pass the subject overall. Any student who does not achieve a pass in the invigilated components may, in
exceptional circumstances, be reviewed by the School Assessment Committee.
Students who have completed less than 100% of the assessment will be subject to review by the School
Assessment Committee which could result in an overall fail.
It is important to be aware that assessment is always subject to final ratification following the examination
period and that no single result represents a final grade in a subject (Learning, Teaching and Assessment
Policy 5.21.).

3.2 Feedback on student learning

The Student Guide which accompanies your text provides a number of opportunities for checking your
learning of each chapter. By undertaking the different kinds of questions in the study guide, and
checking your answers against the solutions are given towards the end of the guide, you will be given
immediate feedback on your understanding of the content of the course. There are some multiple
choice questions at the end of each chapter, the answers will be placed on LearnJcu. Attempting the
multiple choice questions in your text and study guide will assist you in your online assessment. We
recommend that you research those questions you do not answer successfully to increase your
knowledge of the subject. Your subject guide also lists a number of online resources in Section 4
that may be useful in furthering your study.
Attempting some questions (given in the outline on page 12 before class is an important part of your
learning. All accounting answers seem easy when you are presented with the solution, however an
important component of 'doing' accounting in general, and auditing in particular, is the decisions
undertaken regarding how to undertake a problem, what factors to incorporate and what to leave out.
It is important that all students come to class with their attempt, so that, by comparing their own work
with the answers, they can question the lecturer, receiving feedback to their progress at that time.

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3.3 Assessment Tasks

ASSESSMENT TASKS 1 and 3: Online tests

Aligned course &

subject learning
outcomes

SLO2: To develop students' understanding of the audit function and of the

reasons for an audit
CLO: K3 Evaluate sustainable economic, social and environmental practices
and value systems from accounting disciplinary perspectives

Group or individual

Individual

Weighting / Length

10% for each test

Due date

Weekends of 22nd / 23rd March and 17th / 18th May

ASSESSMENT TASK 1: DESCRIPTION

These online tests will take place in the LearnJcu environment and will be conducted on a weekend.
They are comprised of 20 multiple choice questions and two short answer questions. The questions
come from a question pool and will be picked at random on an individual basis. You will be given one
hour to answer the questions from the time you log in. These tests are set to ensure that you have an
understanding of basic auditing concepts.
It is important for students to ensure that they have a reliable internet connection when they undertake
the test.
ASSESSMENT TASK 2: Risk Assessment Report

Aligned course &

subject learning
outcomes

SLO 3: To examine techniques used by auditors, including risk analysis, evidence

collection and evaluation, and audit reporting
CLO: S3 Integrate advanced theoretical and technical accounting knowledge which
includes a selection of auditing and assurance, finance, economics, quantitative
methods, information systems, commercial law, corporation law and taxation law
CLO: S4 Present complex business analyses and information appropriately to both
accountants and non-accountants using:
(a) effective oral presentation skills
(b) clear and fluent written communication

Group or individual

Individual

Weighting / Length

30%

Due date

24th April: Written report; Session 10: Oral component

ASSESSMENT TASK 2: DESCRIPTION

Scenario: You are a senior auditor in the firm of EA Partners. The firm has decided to take on a new
client and has requested you to compile a risk assessment report on the firm, as part of the initial
stage of the audit plan and preparation. You have been chosen to undertake the analysis because you
are familiar with the industry in which the firm is situated and your fellow seniors believe this will give
you an advantage when uncovering the inherent risks of the new client. Your fellow seniors look
forward to reading your report. After you have given your report to the other seniors, they decide that
your team will be handling the audit. The second part of the assignment is to give a briefing to your
team about the new client.
Task: Chose a industry with which you are familiar. You may be connected to the industry because of
a family business, you may have worked in the industry or you may be very interested in the area. You
are required to build a risk assessment of the new firm using any research means at your disposal,
however you should include in your research information released by the media (news, newspapers,
industry magazines) and academic information. After you have uncovered the relevant inherent risks,
you are required to suggest suitable controls that may mitigate the impact of those risks on the firm.
The report should be concise and attracts 25% of the 30% mark.
Important: You may not approach any employee or manager of any business and speak to them. You
may not represent to an employee or manager that you are undertaking research for any institution,
including James Cook University.
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Oral component (5%)

An oral component is to be given. It is to be given in week 8 during the workshop/tutorial time, in front
of the class. The component is not a presentation, so there will be no powerpoint slides or notes of
any kind. Students should give a short prcis of the report and respond to any questions given by the
lecturer and fellow students, who are playing the part of the audit team you lead.
Further comments:
Remember to describe your industry and the firm to which the report relates
All sections should refer to the appropriate standards, and standard paragraphs. The standards should
be integrated into the document in a cohesive way.
You should use an appropriate format for the report. A letter of transmittal is not required.
Although no word limit has been set, the case asks for a concise report. Therefore, other things being
equal, the more concisely you can present your results the higher will be your mark
All sections must be completed by the due date given in section 1.3 of this subject outline and
uploaded into Safe Assign. A hard copy of the final report is to be submitted to the assignment boxes
located as follows:
Cairns: School of Business, Building A1, Level 2, at drop box outside Faculty Office room 209
Townsville: School of Business, Building 27, Level 3 at top of spiral stairs in subject labelled box.

ASSESSMENT TASK 2: CRITERIA SHEET

See rubrics on pages 13-15

ASSESSMENT TASK 3: EXAMINATION

Aligned course &

subject learning
outcomes

SLO 1:To familiarise students with current developments in audit practices

and research
SLO 2: To develop students' understanding of the audit function and of the
reasons for an audit
SLO 3: To examine techniques used by auditors, including risk analysis,
evidence collection and evaluation, and audit reporting
CLO: K3 Evaluate sustainable economic, social and environmental
practices and value systems from accounting disciplinary perspectives
CLO: A2 Exercise judgement under minimal supervision to solve emerging
and/or advanced accounting problems in complex contexts using social,
ethical, economic, regulatory and global perspectives

Weighting / Length

50%

Date

June 11, 2-4pm Room TBA

Duration

2 hours

see Special Consideration, Supplementary, Deferred and Special Examinations Requirements

<http://www.jcu.edu.au/student/assessmentexams/>

ASSESSMENT TASK 3: EXAMINATION DESCRIPTION

You will be required to complete a two-hour, end of teaching period, exam. The University will determine the
date and time of the final exam and will provide exam timetables.
The examination will consist of 2 parts.
Part 1 consists of short answer questions. Each question may have a different value. You will be required to
answer all questions. They may be drawn from any chapter of the text and lecture material (35 marks).
Part 2 is a short case study that will require you to apply one or more concepts you have learnt in the subject to
a specific situation (15 marks)

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The style of questions will test your knowledge of auditing concepts and your ability to apply them to real life
problems. Tutorial and workshop questions provide good examples and you are encouraged to attempt them
before coming to class. Failing to attempt questions before coming to class may affect your ability to sit your final
exam.

ASSESSMENT TASK 3: EXAMINATION CRITERIA

Students are expected to obtain at least an average of 50% for the examination which is the only invigilated
components (supervised individual assessment) in the subject. In order to pass this subject overall, you must
obtain a final mark of at least 50% to pass the subject.
Any student who does not achieve a pass in the invigilated components may, in exceptional circumstances, be
reviewed by the School Assessment Committee.

Section 4. Other Information about Assessment and Student Support

4.1 Submission and return of assessment
The ability to adhere to deadlines is a highly desirable attribute that employers seek in our graduates. Right from
the beginning, new students should acquire the habit of meeting deadlines for their work, by organising their
study time appropriately. The following points apply to the submission of assessment
1. Extensions will be granted in cases of illness or personal issues (medical certificate/counsellors
statement required). It is at the discretion of the subject co-ordinator/lecturer that extensions will be
granted for inescapable, unexpected, documented work commitments (provide documentation). You
should contact your lecturer before the due date if you are likely to require an extension.
2. Where no prior extension has been approved, late submissions will incur a penalty of 5% per day or part
thereof. Weekends are treated as a single full day because university buildings are not usually
accessible of over the weekend to allow for submission. Assessment tasks will generally not be graded
after 14 days past the due date.
3. Assignments must be submitted to a Safe Assignment drop box on the subject site, LearnJCU. Students
may not email or fax an assignment without prior approval from the Subject Coordinator/Lecturer.
Submission is required as Safe Assignment and in hard copy form.
4. Assessment items submitted in hard copy such as this written assignment are to be submitted to the
assignment box located as follows:
Cairns: School of Business, Building A1, Level 2, at drop box outside Faculty Office room 209
Townsville: School of Business, Building 27, Level 3 at top of spiral stairs in subject labelled box.
Please ensure that you have attached the School of Business Assignment Coversheet and date
stamped your assignment with the date stamp. A copy of the cover sheet is available online at:
http://www.jcu.edu.au/business/public/groups/everyone/documents/learning_object/jcudev_014008.pdf
The assignment boxes will be cleared at 5.00pm each day and the date/time stamp on each assignment
will be checked. Any assignments received after the due date and time will be deemed to be "late" and
will not be collected until 5.00pm the following working day.
5. The written assessment will be returned with feedback on 9th May 2014. Feedback regarding the written
component, will not be of assistance for the oral assessment, since the oral should be based on the
report submitted.

4.2 Plagiarism and referencing

Plagiarism occurs when writers claim ownership of written words or ideas that are not their own. Plagiarism
is a form of cheating and any instances of plagiarism will be dealt with promptly according to University
procedures. Please see the JCU Student Academic Misconduct Requirements Policy
<http://www.jcu.edu.au/policy/student/rights/JCUDEV_005375.html>
Referencing is a systematic way of acknowledging the sources that you have used. Students should check out
the very helpful online resources relating to academic writing, referencing and avoiding plagiarism at:

Writing and Maths Skills Online http://www-public.jcu.edu.au/learningskills/resources/wsonline/index.htm

(In particular, the booklet Summarising, Paraphrasing & Avoiding Plagiarism is a very useful guide).

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The Referencing Libguide <http://libguides.jcu.edu.au/referencing>

What is Plagiarism? <http://www.jcu.edu.au/student/assessmentexams/misconduct/JCU_090850.html>

4.3 Important advice relating to examinations

If you experience difficulties or serious circumstances before or up to the day of your exam, which you
believe may affect your ability to sit the exam successfully or perform at your best, you can apply for special
consideration in the marking of your exam. Please see the JCU Special Consideration, Supplementary,
Deferred and Special Examinations Requirements <http://www.jcu.edu.au/student/assessmentexams/>
If you are unable to attend an exam at the scheduled time due to extenuating circumstances/circumstances
beyond your control, you may apply for a deferred exam. Deferred exams are granted in exceptional
circumstances such as severe medical conditions or family or personal trauma. For further information, visit
http://www.jcu.edu.au/student/assessmentexams/

4.4 Student support

James Cook University is committed to ensuring people with disabilities, injuries, illnesses or health conditions
are able to participate to the fullest possible extent in the educational programs offered by the University and all
other aspects of University life. Students with disabilities, injuries, illnesses or health conditions, who require
special arrangements or consideration, should contact AccessAbility Services (see table below).
If you want further information regarding:

Visit the URL

AccessAbility Services
Accommodation
Careers and employment
Childcare
Counselling
Enrolment
Feedback and complaints
Fees and financial support
Inclusion and engagement

http://www.jcu.edu.au/disability/index.htm
www.jcu.edu.au/accommodation/
www.jcu.edu.au/careers/
http://www.jcu.edu.au/student/support/JCUPRD_017384.html
www.jcu.edu.au/student/counselling/
http://www.jcu.edu.au/student/enrolment/index.htm
http://www.jcu.edu.au/student/complaints/index.htm
www.jcu.edu.au/student/Loans/studentloans/
http://www.jcu.edu.au/studentequity/

Indigenous student support

http://www.jcu.edu.au/getready4uni/life/JCU_117712.html

Information for current students

International student support
Learning skills/ Language support
Library and computing services
Librarians Faculty
Responsibilities and rights
Review of Assessment and Student Access to
Scripts and Materials Policy
Special Consideration, Supplementary, Deferred
and Special Examinations Requirements

www.jcu.edu.au/student/
http://www.jcu.edu.au/international/
http://www-public.jcu.edu.au/learningskills/
http://www-public.jcu.edu.au/libcomp/index.htm
http://www-public.jcu.edu.au/libcomp/library/contacts/liaison/index.htm
http://www.jcu.edu.au/student/responsibilities/index.htm

Student Academic Misconduct Requirements

http://www.jcu.edu.au/student/assessmentexams/

Student Policies
Student Association

http://www.jcu.edu.au/policy/student/
http://www.jcu.edu.au/studentassoc/

http://www.jcu.edu.au/student/assessmentexams/
http://www.jcu.edu.au/student/assessmentexams/

Students enrolled at JCUS, JCUB or BJUT should access support services provided on their campus.

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Section 5. Subject Calendar

Week/
Presented
from

Topic

Readings

Related
Assessment

1 (Cns)

Session 1: Introduction,
ethics and reliability

Chapters 1, 3 &
16

Test / exam

2 (Tsv)

Session 2: Audit reports,

responsibilities and objectives

Chapter 2 & 4

Test / exam

3 (Cns)

Session 4: Evidence

Chapters 5

Assignment /
exam

4 (Tsv)

Session 5: Planning and

documenting

Chapter 6

Assignment /
exam

5 (Cns)

Session 6: Materiality and

risk

Chapter 7

Assignment /
exam

6 (Tsv)

Session 7: Other factors

Chapter 9 and 13

Exam

7 (Cns)

Session 8: Audit planning

Chapter 11

Exam

In class problems / activities

Work to be completed before lecture

Review of accounting systems

Review of company reports

Pinnacle Manufacturing: part I,

page 206
Pinnacle Manufacturing: part II,
Page 246

Questions: 1.1,1.2, 1.14,1.25, 1.27, 1.33, 3.1, 3.2,

3.4, 3.7, 3.11, 3.14, 3.25, 3.32, 3.33, 3.34,
16.1,16.2, 16.5, 16.6, 16.9, 16.11, 16.13
Questions: 2.1, 2.6, 2.10, 2.19, 2.22, 2.24, 2.26,
4.2, 4.3, 4.7, 4.8, 4.9, 4.11, 4.13, 4.22, 4.24, 4.26,
4.29
Questions: 5.2, 5.3, 5.5, 5.6, 5.13, 5.15, 5.17,
5.22, 5.25, 5.27,5.36
Questions: 6.1-4,6.7,6.13, 6.14, 6.18, 6.20,6.21,
6.33
Questions: 7.1, 7.2, 7.3, 7.6, 7.8, 7.10, 7.11, 7.15,
7.17, 7.26, 7.27, 7.31, 7.36
Questions: 9.1, 9.2, 9.4, 9.7, 9.11, 9.16, 9.20, 9.22,
9.23, 13.1, 13.2, 13.3, 13.9, 13.13,13.19,13.24

LECTURE
RECESS
8

Easter Monday no class

9 (Cns)

Session 9: Understanding
internal controls

Chapter 8 & 10

Exam

10 (Tsv)

Session 10: Auditing sales

and collection cycle

Chapter 12

Exam

11 (Cns)

Session 11: Auditing other

transaction cycles

Chapter 14

Exam

12 (Tsv)

Session 12: Completing and

reporting the audit

Chapter 15 and
revise chapter 2

Exam

13 (Cns)

Session 13: Review

School of Business

Pinnacle Manufacturing: part III,

page 284
(After class how to set up your
presentations)
Student oral presentations

Questions:11.1,11.3,11.5,11.9,11.11,11.13,11.15,
11.19,11.23, 11.29, 11.32
Questions: 8.1, 8.3, 8.7, 8.8, 8.16 8.18, 8.25,
8.27, 8.29, 8.30,10.2, 10.6, 10.9, 10.15, 10.16,
10.19, 10.22
Questions: 12.1, 12.2, 12.3, 12.11, 12.16, 12.18,
12.29, 12.33, 12.34, 12.36, 12.41
Questions: 14.1, 14.4, 14.5, 14.6,14.8, 14.12,
14.13, 14.14, 14.26, 14.32, 14.36

Review of general purpose

financial reports and attached
audit reports

CO5118:03 Auditing and Assurance Services

Questions:15.1, 15.3, 15.4, 15.9, 15.10,

15.13,15.14,15.26, 15.28, 15.32, 15.35

Page 12

Section 6. Assessment Criteria Sheets

Risk analysis report

SubjectLearningOutcome:Toexaminetechniquesusedbyauditors,includingriskanalysis,evidencecollectionandevaluation
Below expected standard
Risk Analysis

Competent

Proficient

Demonstrates an understanding of the risk

assessment process. Is able to identify
some inherent risks, however the
assessment is not in sufficient depth and/or
is incomplete

Demonstrates a high level understanding of

the risk assessment. Is able to identify most
inherent risks, however the assessment is
not in sufficient depth and/or is incomplete.

Demonstrates an advanced level

understanding of the risk assessment. Is
able to identify the inherent risks related to
the chosen industry. The assessment is of
sufficient depth and is complete.

Does not demonstrate an understanding of

the impact of risks on the development of
appropriate controls

Demonstrates a reasonable level of

understanding of the impact of risks on the
development of appropriate controls

Demonstrates sound use of relevant

accounting standards

Demonstrates a higher level use of relevant

accounting standards

Demonstrates advanced level of

understanding of the impact of risks on the
development of appropriate controls and an
ability to critically analyse the impact of the
risks on the control environment
Demonstrates skilful use accounting
standards and an ability to apply them
appropriately

/20
Evaluation of risks and
control environment
/20
Reference and application of
appropriate standards
/10

S4 Present complex business analyses and information appropriately to both accountants and non-accountants using:
(b) clear and fluent written communication
A:
Context of and Purpose for
Writing
Includes considerations of audience,
focus, purpose and the
circumstances surrounding the
writing task(s)
/10

B
Content Development
Logical flow, critical analysis, clear &
relevant outcomes; concise and
cohesive
/10

School of Business

Below expected standard

Competent

Demonstrates a sound understanding of

context, audience, focus and purpose of
assigned task (e.g.: displays awareness and
reasonable alignment with audience,
purpose and context).

Demonstrates a high level understanding of

context, audience, focus and purpose of
assigned task (e.g.: displays alignment with
audience, purpose and context).

Demonstrates an advanced level

understanding of context, audience, focus
and purpose of assigned task and focuses
all elements of the work.

Demonstrates sound ability to organise

content in a logical, concise and cohesive
manner with sound critical analysis, and
outcomes supported with clear evidence

Demonstrates a high level of ability to

organise content in a logical, concise and
cohesive manner with high level critical
analysis, and outcomes supported with
quality evidence

Highly competent at organising content in a

logical, concise and cohesive manner with
an advanced level of critical analysis, and
outcomes justified with comprehensive
evidence

CO5118:03 Auditing and Assurance Services

Proficient

Page 13

C
Disciplinary Style &
Conventions
Formal and informal rules inherent in
the expectations for writing in
particular forms and/or academic
fields (please see example above)
/10

D
Sources and Evidence
Research evidence; accurate,
credible, relevant, current data
sources referenced in appropriate
style
/10

E
Control of Syntax and
Mechanics

Demonstrates sound ability to apply suitable

conventions particular to accounting
including appropriate presentation, structure,
style and format.

Demonstrates a high level ability to apply

suitable conventions particular to accounting
including appropriate presentation, structure,
style and format.

Demonstrates advanced level of

competence and successful execution of
suitable conventions particular to accounting
including appropriate presentation, structure,
style and format.

Demonstrates sound use of relevant

research evidence from an array of related
sources to support ideas that are
appropriate for the style of writing with
accurate referencing.

Demonstrates a higher level use of relevant

research evidence from an array of related
sources to support ideas that are
appropriate for the style of writing with
accurate referencing.

Demonstrates skilful use of quality research

evidence from a wide array of highly
relevant sources to support ideas that are
appropriate for the style of writing with
accurate referencing.

Uses appropriate language that conveys

meaning to readers with clarity and minimal
errors.

Uses appropriate language at a high level

that conveys meaning to readers with clarity,
and is virtually error-free.

Uses appropriate language that skilfully

communicates meaning to readers with
clarity fluency, and no errors.

Sentence construction; grammar;

punctuation & spelling
/10

School of Business

CO5118:03 Auditing and Assurance Services

Page 14

Oral presentation
S4 Present complex business analyses and information appropriately to both
accountants and non-accountants using:
(a) effective oral presentation skills
Not competent

Competent

Content

The student rambles and has

not been able to clearly
articulate the important points to
the target audience

A
Verbal presentation

Presents a verbal presentation

that receives audience attention.
e.g. appropriate voice
projection, use of language,
speaking pace, pronunciation.

B
Non-verbal
presentation

Presents with appropriate nonverbals which maintains

audience attention.
e.g. evidence of enthusiasm and
confidence; mainly effective use
of eye contact, gestures and
movement ; appropriate attire
and demeanor.

Demonstrates an ability to
collate the information required
by the target audience. Is able to
convey appropriate facts
efficiently
Presents a verbal presentation
that engages audience.
e.g. clear voice projection,
appropriate terminology,
speaking pace, pronunciation
which maintains audience
interest / interaction.
Presents with effective nonverbals which generate and
maintains a high level of
audience engagement.
e.g. frequent high level of
enthusiasm and confidence;
effective use of eye contact,
gestures and movement which
enhance the delivery;
appropriate attire and
demeanor.
Effective time management.
e.g. Delivery makes good use of
the allotted time, for optimum
audience engagement.

C
Time Management

Sound management of allotted

time.
e.g. Delivery within time limits
and well-paced; with an
appropriate balance for all
sections.

Digitally signed by Professor David Low

DN: cn=Professor David Low, o=School
of Business, ou=Head of School,
email=david.low@jcu.edu.au, c=AU
Date: 2014.02.11 16:32:53 +10'00'

School of Business

CO5118:03 Auditing and Assurance Services

Page 15