Module Title:Audit and Assurance 1
Language of Instruction:English
Credits: 5
NFQ Level:8
Module Delivered In 2 programme(s)
Teaching & Learning Strategies: Lectures - communication of knowledge and ideas from the lecturer to the student. Problem Solving Exercises - student will work as part of a team and will work together to resolve various audit scenarios. Class Discussion/Debate - Students will be encouraged to actively participate in the class sessions which will develop their analytical and communication skills. E-Learning - It is envisaged that the module will be supported with on-line learning materials. Self-Direct Independent Learning - the emphasis on independent learning will develop a strong and autonomous work and learning practices.
Module Aim: The aim of this module is to equip students with a knowledge and understanding of the concepts and principles of the audit and assurance process (enabled by the students’ knowledge from Financial Accounting). The students will gain an appreciation of its application in the context of the professional regulatory and ethical framework. The depth and breadth of module content and assessment are designed to gain maximum exemptions from professional accountancy bodies, appropriate to a B.A. (Honours) in Accounting program.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Define and explain the key terms, concepts and practices for the audit framework, regulatory environment, corporate governance, ethics and internal audit, audit planning and risk assessment, audit review and reporting.
LO2 Identify and apply appropriate audit and assurance techniques when presented with defined and undefined practical auditing, accounting and business problems.
LO3 Analyse and interpret results and outcomes within an auditing and assurance framework and make recommendations.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
Financial Accounting II (BA in Accounting) or its equivalent

Module Content & Assessment

Indicative Content
Audit framework, regulation and Internal audit
The concepts of auditing, other assurance engagements and Statutory Audits, The regulatory environment, Professional ethics and conduct.Quality control in audit firms. Corporate governance, Internal Audit (differences with external audit).
Planning and Risk assessment
Objective and general principles, Assessing the Audit Risk. Understanding the entity and its environment, Materiality, fraud, laws & regulations, Analytical procedures, Planning an audit, Audit documentation.
Review and Reporting
Subsequent events, Going Concern, Written representations, Audit finalisation and the final review. Audit reports, Reports to Management.
Assessment Breakdown%
Continuous Assessment20.00%
End of Module Formal Examination80.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Other e.g. Class test/Case Study/MCQ 1,2,3 20.00 Week 7
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3 80.00 End-of-Semester

SETU Carlow Campus reserves the right to alter the nature and timings of assessment


Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 4.00
Independent Learning Every Week 8.00
Total Hours 12.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 2.00
Independent Learning Time Every Week 8.00
Total Hours 10.00

Module Delivered In

Programme Code Programme Semester Delivery
CW_BBACT_B Bachelor of Arts (Honours) in Accounting 5 Mandatory
CW_BBACF_B Bachelor of Business (Honours) in Accounting and Finance 7 Mandatory