ACC707 - Auditing and Assurance - Financial Accounting Report Writing Assessment Answer

Internal Code: 1AHHJC Code: ACC707

Auditing and Assurance Report Writing Assessment Answer

Assignment Task: 2.1 Overview of the Subject This subject considers primarily the role of the auditor in the external audit of corporate financial statements, but also looks at risk assessment, system reliability and detection and prevention of fraud more broadly. It builds on the knowledge of accounting standards and studies the roles and responsibilities of the auditor, auditing principles and standards, and the application of those standards, particularly in an electronic environment. 2.2 Graduate Attributes for Postgraduate Courses Graduates of Postgraduate courses from King’s Own Institute will gain the graduate attributes expected from successful completion of a Master’s degree under the Australian Qualifications Framework (2nd edition, January 2013). Graduates at this level will be able to apply an advanced body of knowledge in a range of contexts for professional practice or scholarship and as a pathway for further learning. Learning Outcomes - a) Apply the various auditing standards and procedures taking into consideration the professional, legal and ethical standards relevant to audits by the application of these to the conduct of an audit. b) Apply the concepts of risk analysis and internal controls, audit testing procedures and audit sampling techniques as they apply to audit practice c) Evaluate information on audit practice and audit reports with reference to current auditing standards.

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