Auditing Theory and Practice - 2016

Unit summary


  • Level of Study: Undergraduate Level 3
  • Study load: 0.125 EFTSL
  • Delivery method: Web Dependent
  • Prerequisites: Yes
  • Duration: 13 weeks
  • Government loans available: FEE-HELP, HECS-HELP
  • Availability for 2016: SP1 , SP3
  • Availability for 2017: SP1 , SP3
  • Assessment: Assignment 1 - 2000 Words (40%) , Invigilated Exam - 3 hours (60%)

Unit provided by

2016 Fees
Domestic 1,305.00
HECS 1,305.00
International 1,555.00

To introduce students to the advanced concepts and current issues relating to the external audit function and its role in business and the legal environment, and to familiarise students with auditing techniques, procedures and standards applied in auditing practice

At the completion of this unit students will be able to:

  1. analyse the nature and purpose of auditing; the concept of true and fair in connection with financial statements; and public expectations of audit reports
  2. explain the duties, responsibilities and liabilities of auditors in the current business environment
  3. identify the fundamentals of audit planning, audit risk and materiality
  4. describe the methodology involved in the review, documentation and evaluation of internal controls in accounting systems
  5. describe the process of compiling an audit report and completing an audit engagement and make professional recommendations.
  • Assignment 1 — 2000 Words (40%)
  • Invigilated Exam — 3 hours (60%)
For more information on invigilated exams see Exams and results

Mandatory conditional prerequisites

You must either have successfully completed the following unit(s) before starting this unit, or currently be enrolled in the following unit(s) in a prior study period; or enrol in the following unit(s) to study prior to this unit:

Please note that your enrolment in this unit is conditional on successful completion of these prerequisite unit(s). If you study the prerequisite unit(s) in the study period immediately prior to studying this unit, your result for the prerequisite unit(s) will not be finalised prior to the close of enrolment. In this situation, should you not complete your prerequisite unit(s) successfully you should not continue with your enrolment in this unit. If you are currently enrolled in the prerequisite unit(s) and believe you may not complete these all successfully, it is your responsibility to reschedule your study of this unit to give you time to re-attempt the prerequisite unit(s).

If you have completed equivalent study at another university, please contact a Student Advisor for advice.

  • Broadband access — The majority of the unit resources are available via an integrated online website. Online discussion forums are used to assist students with queries. It is expected that students have access to the Internet to complete the requirements for this unit.
  • Other special requirement — Students will require Windows Vista, Windows 7 or higher. UniSA does not support Windows XP.

This unit addresses the following topics.

1Demand for Audit and Assurance Services
2The profession and professional ethics
3Audit Planning
5Materiality and Audit Risk
6Internal Control
7Preparing the Audit Program
8Audit Sampling
9Sales and Collection Cycle
10Verification of Assets and Liabilities
11Completing the Audit
12Legal Liability of Auditors

This unit is delivered using the following methods and materials:

Online materials

  • Printable format materials
  • Quizzes
  • Resources and Links

This unit is a core requirement in the following courses:

This unit may be eligible for credit towards other courses:

  1. Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
  2. In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Co-Op textbook list.

Textbooks are subject to change within the academic year. Students are advised to purchase their books no earlier than one to two months before the start of a unit.

Click on the titles of the listed books below to find out more:

Required textbooks

  • Auditing, Assurance Services and Ethics in Australia: An

    By:Arens A Best P Shailer G

    ISBN: 9781442539365


    Supplier:Go to The Co-op Bookshop

  • Enquire online

    Need to ask a question that's best put down in words?
    Make an online enquiry.

    Enquire now

    Ready to enrol?

    Start studying this unit now.


    Got a question?

    Get an answer from one of our friendly Student Advisors.