SHE Level 4
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code MHN425674
Module Leader Karen McFarlane
School Glasgow School for Business and Society
Subject Finance and Accounting
  • B (January start)

Pre-Requisite Knowledge

Audit or equivalent

Summary of Content

The module aims to explore a number of the theoretical and practical issues introduced in the Audit module in a deeper and more critical way. Extensive use is made of journal articles.


Conceptual, legal and practical issues . Auditing concepts: Audit expectations gap . Auditor independence: Philosophical and practical dimensions . Audit regulation: The internal/external regulatory debate . The negligence/liability debate . Fraud and illegal acts: Critical assessment of the current situation . Audit reporting: The present report and alternatives . The audit profession . Other relevant current issues in audit

Learning Outcomes

On successful completion of this module, the student should be able to:1. Demonstrate a critical in-depth understanding of the principal theories, concepts and principles of auditing and their application to the contemporary audit process. This will be reflected in the coursework and in seminar discussions. 2. Demonstrate a consolidated understanding of contemporary problems and issues in auditing, including ethical issues. This will be reflected in the coursework and in seminar discussions.3. Demonstrate the ability to apply techniques and skills to a range of practical auditing situations. This will be reflected in the coursework and in seminar discussions.4. Demonstrate the ability to make formal presentations and facilitate discussion of specialised auditing issues to a peer audience. This will be reflected in seminar discussions.

Teaching / Learning Strategy

The teaching/learning strategy has two interrelated elements: b7 Lectures introduce concepts, techniques and issues. b7 Tutor and student-led seminars provide a range of activities, including discussion of concepts and issues, support for directed and independent learning, tackling of case studies in small groups and group and individual presentations. The learning and teaching strategy for Advanced Audit reflects the need for honours students to be able to work independently and to further develop their ability to discuss, evaluate and critique topic areas. Theoretical and conceptual issues introduced in level 3 Audit are developed further and alternative theories and ideas are also addressed. Topics are introduced in a mixed classroom format, incorporating lecture material with opportunities for interaction, which is facilitated by the restriction on class size to 25 students. Students are expected to engage extensively in private reading and in discussions in order to be able to consider each topic fully. Seminars adopt a variety of teaching styles with an emphasis on student participation through group and individual presentations and informal discussion. The VLE is used to support class activities. Feedback strategy : A: Facilitating the development of self-assessment Students will be asked to identify strengths and weaknesses in their own work in relation to the criteria set out in the marking template before handing the work in for marking. B: Encouraging teacher and peer dialogue The lecturer will review feedback at the tutorials where coursework and other work done by students will be handed back. In reviewing personal transferable skills such as presentation skills individually and in small teams the lecturer will provide constructive instant feedback in discussion with the rest of the class. Students will also be encouraged to discuss the comments they have been given with their peers and suggest strategies to improve their performance next time. C: Clarifying good performance: A marking template is available for all student course and exam work, which will be handed out in advance and discussed with students in a tutorial prior to completion of the assignment. Anonymous examples of good, bad and indifferent work from previous cohorts of students will be handed out, together with markers' comments. D: Providing opportunities to close the gap between current and desired performance In providing feedback, the lecturer will provide action points for students to follow to enable them to improve their performance. At feedback sessions in tutorials students will be asked to identify their own action points, based on the feedback they have just received to involve students more in the generation and planned use of feedback. E: Delivering high quality information about their learning Feedback will be provided within three weeks of submission and will provide information on strengths, weaknesses and corrective action. F: Encouraging positive motivational beliefs and self esteem Feedback give to students will always be positive and constructive, with action points for improvement. Opportunities will be provided for students to receive individual feedback designed to encourage positive motivational belief and self-esteem. G: Providing information to teachers that can be used to shape the teaching Students will be asked to identify where they are having difficulty in assignments and in the course generally through the medium of the staff-student consultative group. The module team will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing.

Indicative Reading

Books and articles (Note: the latest edition should be used): The main reading will be the relevant chapters in the prescribed textbook: GRAY, I., MANSON, S. & CRAWFORD, L., 2015. The Audit Process: Principles, Practice and Cases, 6 th ed. Andover: Cengage Learning This is the same textbook as used in Audit but the material addresses the issues more conceptually. The prescribed reading will be extensively supplemented by prescribed articles from journals including International Journal of Auditing, Accounting Forum and Critical Perspectives on Accounting. Online sources:

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: Work in small groups Make solo/group oral presentations to seminar groups Plan and manage workload independently.

Module Structure

Activity Total Hours
Seminars (FT) 24.00
Independent Learning (FT) 134.00
Lectures (FT) 12.00
Assessment (FT) 30.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 1 n/a 50.00 35% Facilitation/Participation in seminars
Coursework 2 n/a 50.00 35% Audit simulation excercise