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Unit information: Auditing in 2018/19

Please note: It is possible that the information shown for future academic years may change due to developments in the relevant academic field. Optional unit availability varies depending on both staffing and student choice.

Unit name Auditing
Unit code EFIM30016
Credit points 20
Level of study H/6
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Mrs. Sam Bell
Open unit status Not open

EFIM10005 Fundamentals of Accounting and Finance 1 OR ACCG10052 Introduction to Accounting



School/department School of Economics, Finance and Management
Faculty Faculty of Social Sciences and Law


A theoretical approach to the practical underpinnings of auditing will be adopted which will have significance to both international and domestic students.

Broadly speaking this unit covers four parts: the auditing industry and its surroundings; auditing concepts and techniques, auditing procedures for business functions, and current issues regarding auditing practice.

Aims to equip students with a sound understanding of the theory, principles and practice of auditing, as well as training on methodology and research skills.

Intended learning outcomes

Students should be able to:

a. Understand the theory, principles and practice of auditing and hypothesize why auditing exists.
b. Explain the meaning of key auditing concepts and codes of ethics and be able to apply them to given scenarios.
c. Describe, in general terms, the processes involved in an audit and the nature and structure of the auditing industry.
d. Be able to explain and apply the risk based approach to auditing, distinguish between control and substantive testing and design and describe audit procedures.
e. Discuss the role and responsibility of the auditor including the form and content of the auditors' report.
f. Appraise the audit industry and discuss current issues regarding auditing practice.

Teaching details

10 Two-hour lectures

8 Classes

This pattern of teaching may be changed slightly to accommodate the Easter Vacation.

Assessment Details

Summative assessment: Three-hour closed-book examination in the Summer term: 100%

All of the learning outcomes are assessed through this examination.

Formative assessment: Class questions and associated class contributions

Reading and References

Variable from year to year as Auditing Standards are updated.

Indicative reading:

The Audit Process (Gray, Manson & Crawford, 6th Edition) or Principles of External Auditing (Porter, Simon, Hatherly, 4th Edition)

Other supportive texts:

Current Issues in Auditing (ed. Sherer & Turley)
Creative Accounting, Fraud and International Accounting Scandals by Michael J. Jones.