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 2023 in Semester 1 and Semester 2 at Caulfield. It needs ACW2120, ACX2100, ACC2100, ACF2100 or ACB2120.
- Credit points
- 6
- Offered in 2023
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 40%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 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.
After ACF3600
No unit lists ACF3600 as a prerequisite in the 2023 handbook.
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
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. You will apply professional, ethical and legal requirements stemming from the assurance framework and applicable auditing pronouncements to real-world scenarios.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| Second semester | Caulfield | On campus |
Assessment
- Within semester assessment60%
- Examination40%
Learning outcomes
When you finish this unit, you should be able to:
- 1
critically evaluate the demand for audit and assurance services within Australia and worldwide
- 2
assess the regulatory ethical and professional requirements applicable to assurance services
- 3
design appropriate audit strategies and procedures using the assurance framework
- 4
assess the appropriateness of evidence gathered and conclusions reached using professional judgement and reliable source frameworks
- 5
examine the auditor's role in identifying and reporting frauds and errors in financial statement audits
- 6
apply critical thinking, problem-solving and communication skills to resolve ethical dilemmas and professional issues faced by audit practitioners.
Workload and teaching
- Lectures18 hours
- Tutorials18 hours
- Teaching approachCase-based teaching
- Teaching approachActive learning
- Teaching approachProblem-based 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.
This unit includes case-based teaching, where you apply their knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Learning resources
Required resources
Moroney, R., Campbell, F. and Hamilton, J. (2020). Auditing: A Practical Approach, 4th Edition. Milton, Australia: Wiley.
Interactive E-Text is available from the publisher Link: https://www.wileydirect.com.au/buy/auditing-a-practical-approach-4th-edition/
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Where it fits
ACF3600 is part of 2 areas of study in the 2023 handbook.
Contacts
- Chief Examiners
- Associate Professor Joey Huang
- Associate Professor Gladys Lee
Common questions
What are the prerequisites for ACF3600?
You need ACW2120, ACX2100, ACC2100, ACF2100 or ACB2120 before you enrol. Enrolment rules also apply.
When is ACF3600 offered?
In 2023, ACF3600 runs in Semester 1 and Semester 2 at Caulfield.
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 40% of the final mark, alongside 1 other task.
Which majors and minors include ACF3600?
ACF3600 is part of Accounting.