Gold Coast, Australia
Area of Study
Taught In English
Students must have successfully completed ACCT13-301 Financial Accounting and Company Reporting or equivalent prior to undertaking ACCT13-305.
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4.5 - 6
Hours & Credits
IntroductionThe primary focus of this subject is the external audit of corporate financial statements. The subject presents the fundamental philosophy, concepts, procedures and regulatory framework for auditing in the public accounting domain integrating Australian and International Auditing Standards. In particular, emphasis is placed throughout the subject on ethical considerations, independence and corporate governance. The seminars are presented to correspond with auditing process in theory and practice.Learning Objectives1. This subject examines the role of auditing in assessing the reliability of corporate financial information primarily in the Australian regulatory environment but also in an international auditing context. At the conclusion of the subject students will have knowledge of and the ability to discuss the nature and functions of auditing, why it is demanded and how assurance relates to auditing including the benefits and limitations of audits of financial statements.2. Students will be able to demonstrate knowledge of the importance of the role, duties and the conceptual principles of the Code of Ethics for professional accountants and the importance of national and international auditing standards and their major concepts relating to auditing and the statutory and other duties of the independent auditor.3. Students will be able to evaluate whether audits meet the demands of users and in particular students will be aware of the nature of governance and appreciate the role of the auditor in governance. Students will have an appreciation of the roles of internal audit in the governance processes.4. Students will be able to demonstrate knowledge of audit planning and processes and particularly describe the procedures performed by an auditor to assess risk, indicate the procedures for obtaining and documenting an understanding of the entity's internal control, describe alternative audit strategies, gather sufficient appropriate evidence and describe the steps to evaluate audit findings.5. Students will be able to indicate the appropriate communications with management by the auditor throughout the audit process and have the knowledge and skill to form the audit opinion using evidence gathered from the financial information provided by corporate management.6. Students will demonstrate the ability to work collaboratively in a team environment to perform a variety of audit activities.
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.