Learning Outcomes:
On completion of Module ACC40190, participants will have a sound knowledge and understanding of the professional, legal and ethical framework relevant to auditors. Participants will be equipped with the technical mastery of a range of core auditing practices, methods, tools, and techniques to:
(i) Critically appraise and apply the requirements of relevant International Standards on Auditing
(ii) Explain the significance of management letters and management representations.
(iii) Demonstrate an ability to utilise audit sampling to support and enhance audit evidence.
(iv) Demonstrate a sound practical understanding of the nature of the audit of computerised systems.
(v) Demonstrate the outcome and implications of subsequent event reviews.
(vi) Critically appraise accounting and internal control systems and identify and communicate control risks, potential consequences and recommendations.
(vii) Carry out analytical procedures and discuss the implications of the outcome.
(viii) Describe the role of internal audit, comparing it with the role of the external auditor.
(ix) Prepare suitable audit report and understand the form and implications of audit modifications.
(x) Demonstrate an ability to work within a professional and ethical framework and an ability to apply ethical principles to situations frequently encountered in practice.
(xi) Critically appraise whistleblowing policy, while recognising the different disclosure channels to available to workers.
(xii) Discuss current issues and developments relating to assurance services.
Indicative Module Content:
Module ACC40190 provides participants with a detailed understanding of the basic principles of auditing and develops their ability to apply basic principles of auditing to situations frequently encountered in practice. It develops their appreciation of the ethical requirements and rules of professional conduct. It provides a knowledge & understanding of audit reports, modifications to audit reports and going concern. This module aims to provide participants with:
(i) A sound knowledge and understanding of the basic principles of auditing and an ability to apply these principles to situations frequently encountered in practice
(ii) A sound knowledge and understanding of International Standards on Auditing (Ireland) and other relevant technical pronouncements published by the Irish Auditing & Accounting Supervisory Authority and other relevant technical pronouncements published by the Financial Reporting Council.
(iii) An appreciation of the duties of the auditor in relation to published accounts, including the accounting and legal framework.
(iv) An ability to review and suggest improvements in internal control procedures applied in accounting systems.
(v) A knowledge and understanding of audit reports and audit report modifications.
(vi) An appreciation of the ethical requirements and rules of professional conduct, in particular conflict of interest, confidentiality and whistle blowing.
Students must attempt all the assessment components of a module.