Rhedir gan Bangor University International College
20.000 Credydau neu 10.000 Credyd ECTS
Semester 1 a 2
This module considers the importance to a business of the monitoring of its financial performance, both in terms of meeting the requirements of the regulatory environment within which businesses operate and of providing information of a company’s performance and its financial standing to its executive and shareholders. Differences between internal auditing through a company’s internal-audit department, non-statutory audit and the external audit which are a legal requirement of limited companies under terms of the Companies Act. Auditing of financial statements e.g. sales summaries as well as of a company’s accounts. Audit exemptions of companies with a limited turnover. The auditing process, evidence requiring to be produced, compliance tests and substantive tests, analytical review and computer-assisted audit techniques and completion checklist. International Standards in Auditing. Auditing Practices Board (APB) and its role as a semi-independent body in providing standards of auditing practice for the UK. Provision of industry-specific, operational and reporting guidelines for the carrying out of an audit. Practice Notes and Bulletins as indicators of good practice. Elements of an auditor’s report, indicating to the company a true and fair view of profit and loss during the audited period and providing evidence of properly submitted accounts to the Registrar of Companies.
The main topics covered are:Company governance and auditing requirements; various forms of auditing, internal, non-statutory and external and the legal requirements under the Companies Act of limited liability companies
Regulation within the profession and the setting of standards, recommended procedures and their monitoring.
The auditing process, sources of evidence and the uses of specialist software to investigate the computer-based accounting system of a client company
Auditor’s Reports and their uses within the company and in meeting legal requirements. Auditor’s responsibilities and liabilities
International aspects and standards
Student has scored well in demonstrating a secure knowledge and understanding of many of the topics studied and has achieved a grade enabling progression onto the next phase of the master’s programme
Student has engaged consistently with all the topics of the module and so has clearly demonstrated a high level of suitability for the next phase of the master’s programme
Student has performed sufficiently well in demonstrating a basic knowledge and understanding of a number of topics studied to have achieved the lowest level of pass grades.
- Demonstrate knowledge and understanding of the need for auditing of accounts and the importance of an audit to a company operating with limited liability
- Demonstrate knowledge of the significance and uses of the auditor’s report
- Show an understanding of how audit software is used by the auditor to interrogate the computer-based accounting systems of a client.
- Show knowledge of how auditing standards are articulated and monitored within the profession
- Work with other students in researching and delivering a group presentation
- Explain the process undertaken during an audit and the evidence required by an external auditor and concept of an audit trail
Strategaeth addysgu a dysgu
|Practical classes and workshops||120|
- Literacy - Proficiency in reading and writing through a variety of media
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Computer Literacy - Proficiency in using a varied range of computer software
- Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
Sgiliau pwnc penodol
- Demonstrate numeracy skills required as a basis for further studies in Economics, Financial Accounting and Management
- Demonstrate an understanding and ability to analyse economic issues on a local and international scale
- Accurately apply business models to show an understanding of efficiency and external pressures to an organisation
Goblygiadau o ran adnoddau ar gyfer myfyrwyr
Students will be required to purchase the text book
Millichamp, A. and Taylor, J. (2012) Auditing (10th edition) Cenage
Cyrsiau sy’n cynnwys y modiwl hwn
Gorfodol mewn cyrsiau:
- N4AM: MSc Accounting (with Incorporated Pre-Masters) year 0 (MSC/ACC1)
- N4AP: MSc Accounting and Finance (with Incorporated Pre-Masters) year 0 (MSC/ACCF1)
- N3CT: MSc Finance (with Incorporated Pre-Masters) year 0 (MSC/FIN1)
- N2AY: MSc Management and Finance (with Incorporated Pre-Masters) year 0 (MSC/MANF1)