Bangor Business School
Module - Semester 1 & 2
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.
-threshold -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.
-good -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.
-excellent -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.
-another level-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.
- Analyze and appraise the role of internal audit and appraise the developments in corporate governance.
- 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 critically discuss the principal elements of internal and external audit reports and evaluate appropriately worded audit reports to the individual circumstances of an audit.
- 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.
- Understand and apply basic conceptual issues surrounding auditing and practical techniques used in auditing.
- Understand and discuss the role and scope of external audit in the context of national and international economic, legal and regulatory frameworks.
- Understand and explain the importance of ethical standards in auditing and demonstrate the application of a conceptual framework for ethics to specific contexts.
Exam S1 2hrs
Exam S2 2hrs