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HE Unit Template
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Auditing and Assurance Services
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BUACC5935 - Auditing and Assurance Services
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20260200
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Course
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Unit
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3.2
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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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Postgraduate - Coursework
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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/buacc5935">View unit fees</a>
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Graded (e.g. HD, D, C, etc)
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9
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Masters Degree
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<p>This integrative unit forms part of the capstone experience in the MPA, and enables students to develop an understanding of the practice and theory underlying contemporary auditing and assurance services and thereby prepare them for professional employment settings that provide or utilise such services. It draws together perspectives derived from law, financial/corporate accounting, information systems, ethics and statistical methods. 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. Topics covered in the unit include auditor independence, ethical threats and safeguards; client acceptance; management assertions; audit risk; the internal control environment; audit sampling; the attainment of sufficient and appropriate audit evidence; auditor liability; and audit reporting. Each topic is introduced by a critical and integrative 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, including sampling parameters<br>
•Evaluating audit/assurance evidence<br>
•Audit/assurance reporting based on relevant regulatory and financial reporting frameworks<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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2027
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2026
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BUACC5935 - Auditing and Assurance Services
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Overview
Key information
Requisites
Learning outcomes
Assessment
Parent Region
Overview
Unit description
<p>This integrative unit forms part of the capstone experience in the MPA, and enables students to develop an understanding of the practice and theory underlying contemporary auditing and assurance services and thereby prepare them for professional employment settings that provide or utilise such services. It draws together perspectives derived from law, financial/corporate accounting, information systems, ethics and statistical methods. 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. Topics covered in the unit include auditor independence, ethical threats and safeguards; client acceptance; management assertions; audit risk; the internal control environment; audit sampling; the attainment of sufficient and appropriate audit evidence; auditor liability; and audit reporting. Each topic is introduced by a critical and integrative 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, including sampling parameters<br> •Evaluating audit/assurance evidence<br> •Audit/assurance reporting based on relevant regulatory and financial reporting frameworks<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:
Postgraduate - Coursework
Credit points:
15
EFTSL:
0.125
Field of education:
080101 - Accounting
Offering:
<p><strong>Semester 1</strong><p>Melbourne City Campus (On Campus)</p></p>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/buacc5935">View unit fees</a>
Requisites
Prerequisite
<p>must have completed 1 of "<a href="/ords/r/curriculum/catalogue/course?p6_code=BUACC5932" target="_blank">BUACC5932</a>" / "<a href="/ords/r/curriculum/catalogue/course?p6_code=BUACC5934" target="_blank">BUACC5934</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>Explain the fundamental factors influencing business operations, including accounting information systems, and how they relate to the evaluation of audit risk</p>
K2
<p>Distinguish the roles played by the external auditor, internal auditor and audit committee in providing an appropriate level of assurance to stakeholders</p>
K3
<p>Comprehend the theoretical and practical aspects of legislation, financial reporting regulations, auditing standards, and ethical and other professional pronouncements.</p>
K4
<p>Identify sufficient and appropriate audit evidence, including that derived on a sample basis, as it relates to underpinning management assertions and the provision of an audit opinion</p>
S1
<p>Integrate and reflect critically on the theoretical and practical knowledge required to perform the audit function</p>
S2
<p>Analyse audit risk in forming an appropriate audit opinion</p>
S3
<p>Recognise the limitations of an audit</p>
S4
<p>Recognise the importance of ethical and social considerations in accepting, planning and completing the audit</p>
A1
<p>Apply appropriate auditing knowledge and skills in diverse business and professional settings</p>
A2
<p>Make ethically appropriate judgements when forming an audit opinion</p>
A3
<p>Demonstrate a comprehensive and integrated understanding of auditing and assurance services through a case study or essay assignment</p>
A4
<p>Critique recent developments in the field of auditing including AI and Blockchain</p>
Assessment
Learning Tasks and Assessment
Ref
Learning task
Assessment type
Weighting
Learning outcomes assessed
1
<p>Review of selected topics, based on class activities, reading, and preparation of responses to set questions.</p>
<p>Test</p>
<p>10-30%</p>
K1, K2, K3, S1, S2, A1
2
<p>Group case study and/or essay requiring research and the preparation of calculations and/or written responses.</p>
<p>Oral Presentation and / or Written Research Assignment</p>
<p>20-40%</p>
K3, K4, S1, S2, S3, S4, A1, A2, A3, A4
3
<p>Comprehensive review of all topics, based on class activities, reading, and preparation of responses to set questions.</p>
<p>Exam</p>
<p>40-60%</p>
K1, K2, K3, K4, S1, S2, S3, S4, 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>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Postgraduate - Coursework
Credit points:
15
EFTSL:
0.125
Field of education:
080101 - Accounting
Offering:
<p><strong>Semester 1</strong><p>Melbourne City Campus (On Campus)</p></p>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/buacc5935">View unit fees</a>
Additional information
Add Info Static Text
Internal reference: BUACC5935 - U3.2