Overview
This unit covers the nature and purpose of audit and assurance and the regulatory and professional environment in which it operates. It specifically addresses issues dealing with the auditing standards and practice statements, ethics, current developments and legal liability. You are introduced to statistical and non-statistical sampling as well as audit methodology, planning and internal control. In this unit you will gain an understanding of the role of auditing standards, and their application to the audit process.
Details
Pre-requisites or Co-requisites
Prerequisite: ACCT20071 Foundations of Financial Accounting Anti-Requisite: ACCT20040 Auditing and Ethical Practice
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 3 - 2025
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Postgraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Student feedback
Moodle site needs to be re-organized to be more accessible to students
The Unit Coordinator should consider reorganizing the weekly material folders or tiles on Moodle to enhance clarity and accessibility for students. It is important that any changes are clearly communicated to students, so they know where to locate the relevant materials. Special attention should be given to the placement and visibility of assessment-related resources to ensure students can easily find and engage with them.
Feedback from Self-reflection
Enhance the usefulness of learning materials
Re-record the lectures on Moodle The current lecture recordings are outdated and were created by a casual teaching staff member. It is recommended that new recordings be developed by the Unit Coordinator and/or the current teaching staff who are actively delivering the content. This will ensure that the materials are accurate, up-to-date, and aligned with the current delivery of the unit.
- Identify and explain the nature and purpose of auditing within the regulatory and professional environment
- Critically evaluate and discuss the audit and assurance process and the role of the auditing standards
- Critically evaluate and report on the ethical and legal aspects of planning, executing and reporting on a financial audit
- Define the fundamental principles of professional ethics and explain how the ethical rules apply to auditors.
ACCT20075 supports external accreditation requirements for business acumen, critical thinking and communication competencies.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Online Quiz(zes) - 10% | ||||
| 2 - Written Assessment - 30% | ||||
| 3 - Online Test - 60% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Knowledge | ||||
| 2 - Communication | ||||
| 3 - Cognitive, technical and creative skills | ||||
| 4 - Research | ||||
| 5 - Self-management | ||||
| 6 - Ethical and Professional Responsibility | ||||
| 7 - Leadership | ||||
| 8 - First Nations Knowledges | ||||
| 9 - Aboriginal and Torres Strait Islander Cultures | ||||
Textbooks
There are no required textbooks.
Additional Textbook Information
Auditing, Assurances Service & Ethics in Australia 10th Edition (2017) Authors: Arens, Best, Shailer, Fiedler Elder & Beasley Pearson ISBN: 9781488609138
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Word processing (Microsoft Office Word or similar)
- Zoom Capacity (webcam and microphone)
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
s.bakshi@cqu.edu.au
Week 1
Begin Date: 10 Nov 2025Module/Topic
The auditing profession
Chapter
Chapter 1
Events and Submissions/Topic
Week 2
Begin Date: 17 Nov 2025Module/Topic
Ethics and legal liability
Chapter
Chapter 2 & 3
Events and Submissions/Topic
Week 3
Begin Date: 24 Nov 2025Module/Topic
Audit objectives and evidence
Chapter
Chapter 4 & 5
Events and Submissions/Topic
Week 4
Begin Date: 01 Dec 2025Module/Topic
Audit planning and documentation
Chapter
Chapter 6
Events and Submissions/Topic
Assessment task 1: Online quiz will be open at 9.00 am AEST, Monday, Week 4, and close at 11.50 pm AEST, Friday, Week 6.
Week 5
Begin Date: 08 Dec 2025Module/Topic
Materiality and risk
Chapter
Chapter 7
Events and Submissions/Topic
Week 6
Begin Date: 15 Dec 2025Module/Topic
Internal control
Chapter
Chapter 8
Events and Submissions/Topic
Vacation Week
Begin Date: 22 Dec 2025Module/Topic
No classes
Chapter
Events and Submissions/Topic
Vacation Week
Begin Date: 29 Dec 2025Module/Topic
No classes
Chapter
Events and Submissions/Topic
Week 7
Begin Date: 05 Jan 2026Module/Topic
Fraud and technology in the audit environment
Chapter
Chapter 9 & 10
Events and Submissions/Topic
Week 8
Begin Date: 12 Jan 2026Module/Topic
The audit program, sales and collection
Chapter
Chapter 11, 12 & 13
Events and Submissions/Topic
Assessment task 2 due date: 11.50 pm Friday, Week 8, 2025
WRITTEN ASSESSMENT Due: Week 8 Friday (16 Jan 2026) 11:45 pm AEST
Week 9
Begin Date: 19 Jan 2026Module/Topic
Audit Sampling
Chapter
Chapter 14
Events and Submissions/Topic
Week 10
Begin Date: 26 Jan 2026Module/Topic
Completing the audit, contingent liabilities, post-balance-date events, reporting and other assurance engagements
Chapter
Chapter 17-18
Events and Submissions/Topic
Week 11
Begin Date: 02 Feb 2026Module/Topic
Revision and preparation for the Oral assessment
Chapter
Events and Submissions/Topic
Week 12
Begin Date: 09 Feb 2026Module/Topic
Group and individual oral presentation via online
Chapter
Events and Submissions/Topic
Assessment 3: Group report and recorded presentation slides to be submitted by Week 12, Friday 11.50 pm (AEST)
Review/Exam Week
Begin Date: 16 Feb 2026Module/Topic
Chapter
Events and Submissions/Topic
Oral assessment will be conducted in Week 13 via online. This will be an individual oral assessment which is part of Assessment 3. Time and date of the assessment will be confirmed during the Term.
1 Online Quiz(zes)
Online multiple-choice questions based on the lecture material presented in weeks 1 - 3. This assessment item consists of an open-book online quiz available in Moodle. The quiz will consist of a range of multiple-choice questions from Chapters 1 to 5 in your prescribed textbook.
You must complete this quiz individually within the period indicated. You will not be able to reopen the quiz after the assessment date. It is your responsibility to complete the quiz within the specified time period. There are no extensions available for the online quiz. You only have one attempt at the quiz. Once you open the quiz you will have 40 minutes to complete 20 questions.
This assessment must be submitted by the specified due date and time. Due to the nature of this task, the standard 72-hour grace period does not apply. We recognise that unexpected circumstances may arise, and encourage students to reach out as early as possible if they are experiencing difficulties, so that appropriate support or adjustments can be considered in line with university policy.
1
Other
Week 6 Friday (19 Dec 2025) 11:45 pm AEST
The assessment 1 will open on Monday Week 4, 9.00 am AEST and closes on Friday Week 6, 11.50 pm AEST.
Results will be available in Moodle immediately after the completion of the online assessment
1. Demonstrates understanding of the nature, objectives, and purpose of auditing within the regulatory and professional environment.
2. Identifies and explains the fundamental principles of professional ethics relevant to auditors.
3. Applies ethical principles and auditing concepts to select accurate responses in scenario-based multiple-choice questions.
- Identify and explain the nature and purpose of auditing within the regulatory and professional environment
- Define the fundamental principles of professional ethics and explain how the ethical rules apply to auditors.
2 Written Assessment
This is an individual assessment and forms part of a larger integrated research project. Each student will complete the project based on a specific ASX-listed company allocated to them. Detailed instructions and task requirements are available on the unit’s Moodle site. You are required to submit an academic report that addresses these tasks within the context of your allocated ASX-listed company.
This assessment must be submitted by the specified due date and time. Due to the nature of this task, the standard 72-hour grace period does not apply. We recognise that unexpected circumstances may arise, and encourage students to reach out as early as possible if they are experiencing difficulties, so that appropriate support or adjustments can be considered in line with university policy.
This assessment must be submitted by the specified due date and time. Due to the nature of this task, the standard 72-hour grace period does not apply. We recognise that unexpected circumstances may arise, and encourage students to reach out as early as possible if they are experiencing difficulties, so that appropriate support or adjustments can be considered in line with university policy.
***"This assessment requires students to adhere to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity."
This assessment must be prepared following AI scale level. You should add the following statement at the first page of your assessment report.
Week 8 Friday (16 Jan 2026) 11:45 pm AEST
Submit online by Friday Week 8, at 11.50pm AEST via Moodle through Turnitin.
Week 11 Friday (6 Feb 2026)
Marks will be available on Moodle and you must access Turnitin for your document to receive feedback.
1. Demonstrates a clear understanding of the nature and purpose of auditing within the regulatory and professional environment.
2. Critically evaluates and discusses the audit and assurance process, including the application and significance of auditing standards.
3. Analyses and reports on the ethical and legal considerations involved in planning, executing, and reporting a financial audit, using relevant professional frameworks and examples.
- Identify and explain the nature and purpose of auditing within the regulatory and professional environment
- Critically evaluate and discuss the audit and assurance process and the role of the auditing standards
- Critically evaluate and report on the ethical and legal aspects of planning, executing and reporting on a financial audit
3 Online Test
This is a group assessment. Each group, consisting of 3 to 4 students, will be required to work on a single case or multiple cases and prepare an executive report and presentation. There are three parts to Assessment 3:
Part A- Group Presentation (20%): Students are required to record 10 to 12-minute group presentation and are reqired to upload the presentation via Moodle. Each group member will be expected to present their aspects in no more than 3 minutes. Your presentation must be delivered professionally and persuasively.
Part B- Group Report (20%): a group business report. Must be submitted via online.
Part C- Students will individually discuss the group project-related concept with the unit coordinator. The oral assessment will be conducted via Zoom, and students will be allowed 10 minutes of preparation time for a short case study based on the group project they submitted. The oral assessment will last for 10 minutes with the unit coordinator.
***"This assessment requires students to adhere to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity."
This assessment must be prepared following AI scale level. You should add the following statement at the first page of your assessment report.
This assessment must be submitted by the specified due date and time. Due to the nature of this task, the standard 72-hour grace period does not apply. We recognise that unexpected circumstances may arise, and encourage students to reach out as early as possible if they are experiencing difficulties, so that appropriate support or adjustments can be considered in line with university policy.
Your final report and presentation slides are due in week 12 and oral assessment will be conducted in week 13
Week 12 Friday (13 Feb 2026)
The results will be released on Moodle after grade certification date
1. Demonstrates comprehensive understanding and critical evaluation of auditing concepts, processes, and standards — clearly identifies the nature and purpose of auditing, explains the audit and assurance process, and evaluates the role of auditing standards within the regulatory and professional environment.
2. Analyses and communicates ethical and legal aspects of auditing effectively — applies fundamental principles of professional ethics and relevant legal requirements to planning, executing, and reporting on financial audits, with well-supported arguments and examples in both written and oral formats.
3. Exhibits effective teamwork, professional communication, and presentation skills — contributes meaningfully to the group presentation and report, demonstrates clarity and confidence in the individual oral assessment, and presents information in a logical, professional, and engaging manner.
This assessment must be submitted by the specified due date and time. Due to the nature of this task, the standard 72-hour grace period does not apply. We recognise that unexpected circumstances may arise, and encourage students to reach out as early as possible if they are experiencing difficulties, so that appropriate support or adjustments can be considered in line with university policy.
- Identify and explain the nature and purpose of auditing within the regulatory and professional environment
- Critically evaluate and discuss the audit and assurance process and the role of the auditing standards
- Critically evaluate and report on the ethical and legal aspects of planning, executing and reporting on a financial audit
- Define the fundamental principles of professional ethics and explain how the ethical rules apply to auditors.
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
