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AC3560: AUDIT PRACTICE (2021-2022)

Last modified: 31 May 2022 13:05


Course Overview

This course aims to develop the students’ knowledge, understanding and critical awareness of the audit techniques, judgements and practical skills associated with a financial statement audit. The context of the course reflects both the UK and International legal, regulatory and ethical framework.

The course forms an introduction to the 4th year Professional Audit and Evolution course which goes on to explore the historical context and current professional, regulatory, ethical and societal challenges and developments facing the audit and assurance profession.

Course Details

Study Type Undergraduate Level 3
Session Second Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus Aberdeen Sustained Study No
Co-ordinators
  • Mrs Lindsay Tibbetts

What courses & programmes must have been taken before this course?

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

This course aims to provide students with a foundational knowledge, understanding and critical awareness of current audit techniques, judgements and practical skills associated with a financial statement audit. The context of the course reflects both the UK and International legal, regulatory and ethical framework.

Topics covered may include:

  1. The role, regulatory framework and legal responsibilities of financial statement auditors (Including Money Laundering)
  2. Fundamental Concepts (i.e Materiality, Independence, judgement, scepticism/suspicion)
  3. Audit methodology -Risk Management
  4. The audit process
  5. Audit testing and the search for evidence (Incl Sampling and data analytics)
  6. Audit Reporting
  7. Fraud and Going Concern
  8. Ethics

Guest lectures/workshops from professional firms will provide a clear link from theory to practice.

The course forms an introduction to the 4th year Audit Ethics and Evolution course which goes on to explore the historical context and current professional, regulatory, ethical and societal challenges and developments facing the audit and assurance profession.


Details, including assessment, may be subject to change until 31 July 2022 for 1st half-session courses and 23 December 2022 for 2nd half-session courses.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

  • 1 Lecture during University weeks 26 - 35, 39
  • 1 Support Tutorial during University weeks 26 - 35
  • 1 Tutorial during University weeks 28 - 30, 32 - 33, 35
  • 1 Workshop during University week33

More Information about Week Numbers


Details, including assessment, may be subject to change until 31 July 2022 for 1st half-session courses and 23 December 2022 for 2nd half-session courses.

Summative Assessments

Alternative Assessment

4 x MCQ tests (30%)

Final exam (70%) 

Alternative Resit Assessment

Alternative final assessment (100%)

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge LevelThinking SkillOutcome
ProceduralUnderstandStudents should be able to demonstrate a knowledge & understanding and critical awareness of the key audit stages, techniques and practical skills applicable to financial statement audit
ProceduralUnderstandStudents should be able to demonstrate a knowledge and understanding of how the auditor manages risk throughout the financial statement audit process
ProceduralUnderstandStudents should be able to demonstrate knowledge, understanding and a critical awareness of the key reporting requirements within financial statement audit
FactualUnderstandStudents should be able to demonstrate a knowledge and understanding of the current legal and professional environment within which the financial statement audit practices sit.
ReflectionApplyStudents should be able to demonstrate an ability to work both individually and as part of a team, both core skills required by the audit profession

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