Run by Bangor Business School - (Changsha)
20.000 Credits or 10.000 ECTS Credits
Semester 1 & 2
Organiser: Ms Wendy Ashurst
Overall aims and purpose
To develop knowledge and understanding of the principles and practices of external and internal auditing in the context of both the UK and the international regulatory framework.
The content may include but will not be limited to the; theoretical, regulatory, and ethical background to both internal and external auditing. Furthermore, ensuring an understanding of the risk assessment in the context of internal and external audit and determine material misstatements. Also, cover the auditing planning process, internal controls, how auditors gather audit evidence, contents of the audit report, Corporate Governance, as well as international procedural.
C- to C+
C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
Understand and apply basic conceptual issues surrounding auditing and practical techniques used in auditing.
Understand and explain the importance of ethical standards in auditing and demonstrate the application of a conceptual framework for ethics to specific contexts.
Analyze and appraise the role of internal audit and appraise the developments in corporate governance.
Understand and discuss the role and scope of external audit in the context of national and international economic, legal and regulatory frameworks.
Discuss how risk assessment informs the auditing process, and illustrate the ability to apply risk assessment procedures and examine appropriate responses on an auditing engagement.
Discuss, examine and evaluate the planning process in auditing to a specific business context.
Explain and examine the respective reporting responsibilities of internal and external auditors in relation to internal controls, including the identification of weaknesses in internal controls and applying appropriate tests of controls.
Identify, describe, and appraise the work auditors carry out and the evidence required to meet the objectives of an audit in accordance with international standards in relation to transactions, balances, and disclosures.
Explain and critically discuss the principal elements of internal and external audit reports and evaluate appropriately worded audit reports to the individual circumstances of an audit.
|Exam S1 2 hours||50.00|
|Exam S2 2 hours||50.00|
Teaching and Learning Strategy
Discussing in more detail some of the points from the lectures and working through case studies.
Recorded Tutorials: using pre-set examples.
includes reading, preparing for lectures and computation practice.
One 2-hour lecture per week.
- Literacy - Proficiency in reading and writing through a variety of media
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Exploring - Able to investigate, research and consider alternatives
- Information retrieval - Able to access different and multiple sources of information
- Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
- Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
Courses including this module
Compulsory in courses:
- N405: BSc Accounting & Finance (Bangor College, China) year 3 (BSC/AFBC)