| CODE | ACC3411 | ||||||
| TITLE | Principles of Auditing | ||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||
| MQF LEVEL | 6 | ||||||
| ECTS CREDITS | 6 | ||||||
| DEPARTMENT | Accountancy | ||||||
| DESCRIPTION | This study-unit provides an introduction to the basic theory and practice of auditing in order to enable students to develop a basic knowledge and understanding of the process of carrying out an audit and assurance engagement. It therefore provides students with a sound understanding of fundamental auditing concepts and procedures, and the application of auditing standards. The syllabus starts with a focus on the nature, purpose and scope of assurance engagements, including the statutory audit and its regulatory environment. It also introduces governance and professional ethics relating to audit and assurance. The syllabus then leads into planning the audit and performing risk assessment. It subsequently covers a range of areas relating to an audit of financial statements, including the scope and evaluation of internal controls, the role and function of internal audit, and the collection of sufficient appropriate audit evidence. Aspects of IT applications are also addressed. In addition to final review procedures, the form and content of the independent auditor鈥檚 report are also covered. Study-unit Aims: The main aims of the study-unit are to enable participants to discuss: - the various aspects of the process of carrying out an audit engagement in accordance with the requirements of International Standards on Auditing (ISAs); - the scope, role and function of internal audit. Learning outcomes: Knowledge & Understanding By the end of the study-unit, the students will be able to: 鈥� discuss aspects on how an auditor accepts audit engagements and assesses the risk of material misstatement (whether arising from fraud or other irregularities), and how an auditor plans, executes and completes an audit of financial statements; 鈥� identify and describe the work and evidence obtained by the auditor required to meet the objectives of audit engagements and the application of International Standards on Auditing (ISAs); 鈥� describe the scope, role and function of internal audit; 鈥� describe computer systems controls, including general IT controls and information processing controls. Skills By the end of the study-unit, the student will be able to: 鈥� analyse various fundamental audit concepts; 鈥� apply critical thinking skills and solve auditing problems through the use of case studies; 鈥� explain the legal and auditing frameworks under which the audit of financial statements in Malta are conducted, and apply the profession鈥檚 code of ethics. Reading List: - A.H. Millichamp and John R. Taylor, Auditing (latest edition) - Arens A, Elder R, Beasley M, Hogan C - Auditing & Assurance 福利在线免费: An Integrated Approach (latest edition). - International Federation of Accountants. International Standards on Auditing (latest edition). - Other material as indicated during the lectures. |
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| RULES/CONDITIONS | Before TAKING THIS UNIT YOU MUST TAKE EMA1316 AND TAKE ACC1994 | ||||||
| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Britney Pisani Peter J. Baldacchino Norbert Tabone |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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