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AC4035: AUDIT THEORY AND EVOLUTION (2021-2022)

Last modified: 16 Aug 2021 13:41


Course Overview

This course builds on the knowledge and understanding gained in Audit practice in year 3. It will explore the historical context and current professional, regulatory, ethical and societal challenges and developments facing the audit and assurance profession. As such it contextualises financial statement audit within the expanding audit universe. A main objective of the course is to provide an opportunity for students to think critically about the state and future direction of audit as a profession.

Course Details

Study Type Undergraduate Level 4
Session First 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?

Are there a limited number of places available?

No

Course Description

This course builds on the knowledge and understanding gained in the year 3 Audit practice course. This course will explore the historical context and current professional, regulatory, ethical and societal challenges and developments facing the audit and assurance profession. As such it contextualises financial statement audit within the expanding audit universe. A main objective of the course is to provide an opportunity for students to think critically about the state and future direction of audit as a profession.

 

Topics covered will represent current thinking and as such will be updated to reflect contemporary issues, debates and academic thought. Topic areas will include:

  1. The historical context and development of audit and assurance
  2. Forms of Assurance (Including Internal audit)
  3. The audit expectations gap
  4. The ethical challenge
  5. Reviews of audit and assurance
  6. Future thinking and remedies proposed in relation to the profession, regulation and standard setting

The course aims to develop in the students a constructively critical mindset by exposing them to a mix of academic, professional, regulatory and independent material generated by the reviews led by the House of Lords, EU, CMA, Sir John Kingman and Sir Donald Brydon.

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

This course builds on the knowledge and understanding gained in the year 3 Audit practice course. This course will explore the historical context and current professional, regulatory, ethical and societal challenges and developments facing the audit and assurance profession. As such it contextualises financial statement audit within the expanding audit universe. A main objective of the course is to provide an opportunity for students to think critically about the state and future direction of audit as a profession.

 

Topics covered will represent current thinking and as such will be updated to reflect contemporary issues, debates and academic thought. Topic areas will include:

  1. The historical context and development of audit and assurance
  2. Forms of Assurance (Including Internal audit)
  3. The audit expectations gap
  4. The ethical challenge
  5. Reviews of audit and assurance
  6. Future thinking and remedies proposed in relation to the profession, regulation and standard setting

The course aims to develop in the students a constructively critical mindset by exposing them to a mix of academic, professional, regulatory and independent material generated by the reviews led by the House of Lords, EU, CMA, Sir John Kingman and Sir Donald Brydon.

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


In light of Covid-19 this information is indicative and may be subject to change.

Contact Teaching Time

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

Teaching Breakdown

  • 1 Meeting during University week14
  • 1 Tutorial during University weeks 11 - 17

More Information about Week Numbers


In light of Covid-19 and the move to blended learning delivery the assessment information advertised for second half-session courses may be subject to change. All updates for second-half session courses will be actioned in advance of the second half-session teaching starting. Please check back regularly for updates.

Summative Assessments

First Attempt
(30%) Two MCQ Tests
(70%) Exam

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge LevelThinking SkillOutcome
ReflectionEvaluateOn completion of this course students should demonstrate an ability to think critically about the remedies proposed to resolve contemporary issues within the audit and assurance universe.
ReflectionEvaluateOn completion of this course students should demonstrate an ability to think critically about contemporary issues within the audit and assurance universe.
ConceptualUnderstandOn completion of this course students should have knowledge and understanding of contemporary debates impacting the audit and assurance universe.
ReflectionApplyOn completion of this course students should demonstrate an ability to apply current ethical standards and critically assess their appropriateness in a case study environment.

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