ACF3600 Auditing and assurance
Faculty of Business and Economics
ACF3600 Auditing and assurance is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2020 in Semester 1 and Semester 2 at Caulfield and City (Melbourne). It needs ACC2100, ACF2100, ACW2120 or ACB2120.
- Credit points
- 6
- Offered in 2020
- Semester 1, Semester 2
- Caulfield, City (Melbourne)
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2027 entry.
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Requisites
Before ACF3600
Prohibitions
You can't enrol if you have passed any of these.
Prerequisites
Pass these before you enrol.
After ACF3600
No unit lists ACF3600 as a prerequisite in the 2020 handbook.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit encompasses the nature and purpose of audit and assurance services, and the regulatory and professional environment in which they operate. Students apply professional, ethical and legal requirements stemming from the assurance framework and applicable auditing pronouncements to 'real world' scenarios.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| First semester (Fully flex) | Caulfield | Flexible |
| Second semester | Caulfield | On campus |
| Trimester A | City (Melbourne) | On campus |
| Trimester B | City (Melbourne) | On campus |
| Trimester C | City (Melbourne) | On campus |
Assessment
- Within semester assessment50%
- ExaminationThreshold hurdle50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
critically evaluate the demand for and the limitations of audit and assurance services
- 2
explain the regulatory ethical and professional requirements applicable to assurance services
- 3
understand the assurance framework and apply judgement to determine audit strategy and procedures, appropriateness of evidence gathered and conclusions reached
- 4
analyse the auditor's role in corporate governance with emphasis on the detection and reporting of frauds and errors
- 5
apply critical thinking, problem solving and communication skills to resolve ethical dilemmas and professional issues faced by audit practitioners.
Workload and teaching
- Tutorials19.5 hours
- Lectures18 hours
- Workshops30 hours
- Workshops33 hours
- Teaching approachActive learning
- Teaching approachPeer assisted learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Individual and group problem solving activities, with discussions during online class
Learning resources
Required resources
Prescribed e-text book is available through the Monash Library website: Moroney, R., Campbell, F. and Hamilton, J. (2017). Auditing: A Practical Approach, 3rd Edition. Milton, Australia: Wiley. Link for access through Monash Library: https://monash.hosted.exlibrisgroup.com/permalink/f/tjo511/catau51306392770001751
Optional interactive E-Text is available from the publisher Link to purchase the interactive E-Text: https://www.wileydirect.com.au/buy/auditing-a-practical-approach-3rd-edition/
Technology resources
The only Faculty approved calculators permitted in tests and examinations for all Australian campuses and locations is the HP10bII+ or Casio FX82 (any suffix).
Where it fits
ACF3600 is part of 2 areas of study in the 2020 handbook.
Contacts
- Chief Examiners
- Dr Soon-Yeow Phang
- Dr Lisa Powell
- Dr Ashna Prasad
Common questions
What are the prerequisites for ACF3600?
You need ACC2100, ACF2100, ACW2120 or ACB2120 before you enrol.
When is ACF3600 offered?
In 2020, ACF3600 runs in Semester 1 and Semester 2 at Caulfield and City (Melbourne).
How much work is ACF3600?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACF3600 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.
Which majors and minors include ACF3600?
ACF3600 is part of Accounting.