SHE Level 5
SCQF Credit Points 30.00
ECTS Credit Points 15.00
Module Code MMN426595
Module Leader Karen McFarlane
School Glasgow School for Business and Society
Subject Finance and Accounting
  • A (September start)
  • C (May start)
  • C (May start)-A (September start)

Summary of Content

The aim of the syllabus is to analyse, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments. The module will explore a number of theoretical concepts and practical issues in a deeper context and students will be required to make a critical assessment of conceptual, legal and practical issues explored in this module.


Regulatory Environment; International regulatory frameworks for audit and assurance services, money laundering, laws and regulations Professional and Ethical Considerations; code of Ethics for Professional Accountants, fraud and error, professional liability Quality control and Practice Management; quality control (firm-wide), advertising, tendering and obtaining professional work and fees, professional appointments Planning and conducting an audit of historical financial information; planning, materiality and assessing the risk of material misstatement, evidence and testing considerations, audit procedures and obtaining evidence, using the work of others, group audits Completion, review and reporting; subsequent events and going concern, completion and final review, auditor's reports, reports to those charged with governance and management Other assignments; audit-related and assurance services, specific assignments, the audit of social, environmental and integrated reporting, the audit of performance information (pre-determined objectives) in the public sector reporting on other assignments Current Issues and Developments; professional and ethical developments, other current issues

Learning Outcomes

On successful completion of this module students should be able to:1. Recognise the legal and regulatory environment and its impact on audit and assurance practice.2. Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.3. Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor's . position in relation to the acceptance and retention of professional appointments.4. Identify and formulate the work required to meet the objectives of audit assignments and apply the International Standards on Auditing.5. Evaluate findings and the results of work performed and draft suitable reports on assignments.6. Identify and formulate the work required to meet the objectives of non-audit assignments.7. Understand the current issues and developments relating to the provision of audit-related and assurance services.8. Demonstrate a critical in-depth understanding of the principal theories, concepts and principles of auditing and their application to the contemporary audit process.

Teaching / Learning Strategy

The programme is focused on the development of both theoretical and practical auditing skills, and aims to engage students in analysis, research and discussion of real life issues. The teaching and learning strategy aims to embed these attributes. All of the modules will be delivered on a campus-based and distance learning mode. For campus-based students, face to face contact involves four hours of class contact per week: normally a 2 hour lecture and 2 hour seminar. Lectures will be used to highlight the key issues in a specific topic and point the way towards relevant journal articles and other appropriate literature. Students will be then expected to prepare for following week's lectures on each topic by engaging in literature searches, undertaking relevant reading and preparing responses to questions. The lectures will adopt a variety of teaching styles including seminar style contributions such as group discussion to enhance intellectual, critical and analytical skills. For more applied topics, students will be required to attempt relevant problem or scenario based questions prior to the lectures taking place, providing the basis for deepening professional skills, knowledge and understanding. Module classes are conducted in workshop format providing a mix of tutor led, student led and group learning. Distance learning students access the same resources as on-campus. All students are provided with lecture slides, lecture notes and additional reading all of which is available online. GCU Learn is used in this way as a repository, to provide students with essential learning material. It is also used as a platform for student discussion around the weekly seminar topics. Using Padlet, wikis and blogs both on-campus and distance students will have the opportunity to engage with each other and discuss the weekly lecture topics online. In additional Collaborate Ultra is utilised to provide students with synchronous learning opportunities and provide more directed support throughout the module. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission. At the end of the module, students will be provided with 12 hours of revision classes to prepare them for their ACCA 'strategic professional' exam. Students will undertake two courseworks, each consisting of 3 compulsory case study questions. These courseworks are designed to assess student's practical and academic understanding of the topic as well as prepare students for their professional ACCA exams.

Indicative Reading

Advanced Audit and Assurance (latest edition): Kaplan Publishing, London The prescribed reading will be extensively supplemented by prescribed articles from journals including International Journal of Auditing, Accounting Forum and Critical Perspectives on Accounting

Transferrable Skills

By the end of this module students will have developed their communication skills through peer to peer discussion; generic critical and analytical skills, self-management and report writing skills.

Module Structure

Activity Total Hours
Seminars (FT) 32.00
Independent Learning (FT) 184.00
Lectures (FT) 32.00
Assessment (FT) 40.00
Tutorials (FT) 12.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 02 n/a 50.00 45% Case study
Course Work 01 n/a 50.00 45% Case study