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HE Unit Template
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Auditing
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BUACC3741 - Auditing
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20250200
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Course
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Unit
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2.3
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2026-09-10
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2026-09-10
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Business
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Institute of Innovation, Science & Sustainability
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Business
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Undergraduate
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15
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.125
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080101
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Accounting
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080101 - Accounting
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<a href="http://www.federation.edu.au/locate/unit/buacc3741">View unit fees</a>
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Graded (e.g. HD, D, C, etc)
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7
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Bachelor Degree
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Advanced
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1
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<p>This unit enables students to develop an understanding of the underlying concepts, practice, theory, legal and ethical issues of auditing. The unit considers the audit function as it relates to the assurance engagement framework and how legislation and accounting and auditing standards provide guidance on completing the audit. It also considers issues of auditor independence, ethical threats and safeguards client acceptance management assertions audit risk the internal control environment and the attainment of sufficient and appropriate audit evidence.Other areas include auditor liability and completion of the audit report. Each topic begins with a critical review of key theoretical concepts that are then applied to practical settings.</p>
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<p>•the nature and function of different types of audit/assurance engagements<br>
•ethical, professional and legal aspects of appointment to, and conduct of, audit/assurance engagements<br>
•Audit trinity (external auditor/Internal auditor/audit committee)<br>
•the audit risk model and planning audit/assurance engagements<br>
•the design and conduct of appropriate audit/assurance tests<br>
•evaluating audit/assurance evidence<br>
•audit/assurance reporting<br>
•internal and operational auditing and other assurance services<br>
•current developments and controversies in auditing/assurance services</p>
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<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
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0200
Year
Year
2027
Current Year
2026
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BUACC3741 - Auditing
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BUACC3741 - Auditing
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Semester
Semester 1
Semester 2
Summer Semester
Year
2027
2026
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Overview
Key information
Requisites
Learning outcomes
Assessment
FedTASK
Parent Region
Overview
Unit description
<p>This unit enables students to develop an understanding of the underlying concepts, practice, theory, legal and ethical issues of auditing. The unit considers the audit function as it relates to the assurance engagement framework and how legislation and accounting and auditing standards provide guidance on completing the audit. It also considers issues of auditor independence, ethical threats and safeguards client acceptance management assertions audit risk the internal control environment and the attainment of sufficient and appropriate audit evidence.Other areas include auditor liability and completion of the audit report. Each topic begins with a critical review of key theoretical concepts that are then applied to practical settings.</p>
Unit content
<p>•the nature and function of different types of audit/assurance engagements<br> •ethical, professional and legal aspects of appointment to, and conduct of, audit/assurance engagements<br> •Audit trinity (external auditor/Internal auditor/audit committee)<br> •the audit risk model and planning audit/assurance engagements<br> •the design and conduct of appropriate audit/assurance tests<br> •evaluating audit/assurance evidence<br> •audit/assurance reporting<br> •internal and operational auditing and other assurance services<br> •current developments and controversies in auditing/assurance services</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
080101 - Accounting
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/buacc3741">View unit fees</a>
Requisites
Prerequisite
<p> must have completed <a href="/ords/r/curriculum/catalogue/course?p6_code=BUACC1508" target="_blank">BUACC1508</a></p>
Corequisite
None
Exclusion
None
Learning outcomes
Learning outcomes
<p>On successful completion of this unit, students are expected to gain the following [K]nowledge, [S]kills and [A]pplication of knowledge & skills</p>
Learning Outcomes
Ref
Outcome
K1
<p>Identify and explain the nature and the purpose of auditing.</p>
K2
<p>Identify the internal and external factors influencing business operations and how they relate to the evaluation of audit risk.</p>
K3
<p>Evaluate the role played by the external auditor, internal auditor and audit committee in providing an appropriate level of assurance to stakeholders.</p>
K4
<p>Explain the regulatory and professional requirements of auditors, auditing standards and professional pronouncements.</p>
K5
<p>Identify sufficient and appropriate audit evidence as it relates to underpinning management assertions and the provision of an audit opinion.</p>
K6
<p>Critically evaluate recent developments in the field of auditing and the state of auditing theory and practice.</p>
K7
<p>Recognise and reflect on the importance of ethical and social considerations in accepting, planning and completing the audit.</p>
S1
<p>Discuss the audit and assurance process and the role of auditng standards.</p>
S2
<p>Apply theoretical and practical knowledge of the audit function to gain an understanding of an organisations environment.</p>
S3
<p>Analyse audit risk by considering materiality and the levels of control and inherent risk in determining an appropriate level of detection risk.</p>
S4
<p>Critique the limitations of an audit in terms of sampling and non-sampling risk and how professional judgement impacts on the audit function.</p>
S5
<p>Collect and integrate information regarding a scenario, then analyse, evaluate and form an appropriate audit opinion.</p>
A1
<p>Apply appropriate auditing knowledge and skills in diverse business environments.</p>
A2
<p>Exercise critical thinking and judgement and apply it to the forming of an audit opinion.</p>
A3
<p>Use initiative and judgment to consider how professional scepticism and auditor independence impact on obtaining sufficient and appropriate evidence to verify management assertions.</p>
Assessment
Learning Tasks and Assessment
Ref
Learning task
Assessment type
Weighting
Learning outcomes assessed
1
<p>Review of selected topics</p>
<p>Test</p>
<p>10% - 20%</p>
K1, K2, K3, K6, K7, S1, A1
2
<p>Group case study and/or task</p>
<p>Written assignment</p>
<p>30% - 40%</p>
K3, K4, K5, S2, S3, S4, S5, A1, A3
3
<p>Comprehensive review of all topics</p>
<p>Invigilated exam</p>
<p>40% - 50%</p>
K1, K2, K3, K4, S1, S2, S3, S5, A1, A2
Supplementary assessment available:
Yes
Supplementary assessment information:
<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
FedTASK
FedTASK
Description of FedTASK outcome
Level
FedTASK 1: Interpersonal
The ability to effectively communicate, interact and work with others both individually and in groups.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 2: Leadership
The ability to apply professional skills and behaviours in leading others.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 3: Critical Thinking and Creativity
The ability to work in complexity and ambiguity using imagination to create new ideas.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 4: Digital Literacy
The ability to work fluently across a range of tools and applications to achieve a range of skills.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 5: Sustainable and Ethical Mindset
The ability to consider and assess the consequences and impact of ideas and actions in enacting ethical and sustainable decisions.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK
<p>Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FedTASKs (<strong>T</strong>ransferable <strong>A</strong>ttributes <strong>S</strong>kills and <strong>K</strong>nowledge) provide a targeted focus on five key, transferable Attributes, Skills, and Knowledge that are embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and co-operative learning opportunities.</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
080101 - Accounting
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/buacc3741">View unit fees</a>
Additional information
Add Info Static Text
Internal reference: BUACC3741 - U2.3