Auditing
Unit code: LBC302
| Credit points | 12.5 Credit Points |
| Duration | One semester |
| Contact hours | 36 hours over the teaching period, normally 3 hours per week |
| Campus | Lilydale, Singapore |
| Prerequisites |
Related course(s)
This is a prescribed unit of study in the Business Major/s. It may also be undertaken as a unit of study in any other Swinburne degree program, subject to the prerequisite and degree requirements.
Aims and objectives
After completing LBC302, students should be able to:
• Explain the role and responsibilities of the auditor
• Discuss the importance of an effective system of internal control within the audit process
• Demonstrate an understanding of the audit process and the need for financial report audits
• Explain the reporting requirements of a financial report audit
• Explain the ethical issues that accountants and auditors face
• Discuss the other functions that auditors may provide to an organisation
Teaching methods
This unit will be taught in a variety of modes including face to face, online, distance and blended modes. Delivery of this unit may be through a mixture of lectures, tutorials, laboratories, seminars and online.
Generic skills outcomes
Completion of LBC302 should equip students with particular understandings, abilities and attitudes that are considered desirable in a Swinburne graduate. These include the following key generic skills:
• teamwork skills
• analysis skills
• problem solving skills
• communications skills
• ability to tackle unfamiliar problems
• ability to work independently
Content
Module 1: Audit Profession: Nature and Objectives of Auditing. Ethics. Legal Liability
Module 2: The Audit Process: Audit Process and Planning. Materiality and Audit Risk. Auditing Procedures I. Auditing Procedures II. Sampling
Module 3: Completion of the Audit: Audit Reports
Module 4: Audit Considerations: Electronic Commerce and Auditing
