ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Audit and Assurance
Code ACFI817
Coordinator Mr MAZ Abuzeid
Finance and Accounting
Mostafa.Abuzeid@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2024-25 Level 7 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 20

 5

         25
Timetable (if known)              
Private Study 125
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination. There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment.  2    80       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Group presentation. There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment.  30    20       

Aims

This module aims to

Ensure that students understand the nature and key elements of the assurance process, and the fundamental principles and ethics of auditing;

Ensure that students are able to contribute to the assessment of internal controls and gathering of evidence on an assurance engagement;

Develop understanding of the critical aspects of managing an assurance engagement, which includes acceptance, planning, managing, evidence and reporting.

Learning Outcomes

(LO1) Students will be able to critically evaluate the concept of assurance, why assurance is required and the reasons for assurance engagements being carried out by appropriately qualified professionals.

(LO2) Students will be able to critically evaluate the nature of internal controls and why they are important, document an organisation’s internal controls and identify weaknesses in internal control systems.

(LO3) Students will be able to identify and appraise sufficient and appropriate methods of obtaining assurance evidence and recognise when conclusions can be drawn from evidence obtained or where issues need to be referred to a senior colleague.

(LO4) Students will be able to identify and appraise the importance of ethical behaviour to a professional and explain issues relating to integrity, objectivity, conflicts of interest, conflicts of loyalty, confidentiality and independence.

(LO5) Students will be able to critically evaluate on the regulatory, professional and ethical issues relevant to those carrying out an assurance engagement.

(LO6) Students will be able to critically evaluate the processes involved in accepting and managing assurance engagements.

(LO7) Students will be able to critically evaluate how quality assurance processes mitigate risks.

(LO8) Students will be able to appraise assurance engagements in accordance with the terms of the engagements and appropriate standards.

(S1) Ethical Awareness
Students will develop understanding of issues related to audit risk, audit ethics and corporate internal control.

(S2) Problem solving skills
Students will work on analysing audit problems raised in literature.

(S3) Communication skills
Students will develop written communication skills through their assessed coursework.

(S4) Critical and reflective thinking
Students will work on critical analysis and evaluation of audit risk and audit cases to help them develop critical and reflective thinking.

(S5) Adaptability
Students will work on analysing audit issues and problems which will help in enhancing their adaptability skills.

(S6) Organisation skills
Assessed group work and course work will in enhancing students’ organisation skills.

(S7) Lifelong learning skills
Students will develop understanding and critical evaluation of audit literature.

(S8) Commercial awareness
Students will work on cases and problems raised in literature about real world audit operations.

(S9) Teamwork
Students will work in teams to develop a group project.

(S10) International awareness
Students will develop awareness about audit cases and problems of multi-national corporations identified in literature.

Teaching and Learning Strategies

2 hour lecture x 10 weeks
1 hour seminar x 5 weeks
125 hours self-directed learning

Syllabus
 

The concept, process and need for assurance;

Legal and other professional regulations, ethics and current issues;

Accepting and managing engagements;

Planning engagements;

Internal controls;

Gathering evidence on an assurance engagement;

Concluding and reporting on engagements.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.