Course coordinator
Dr Grace Hsu
Course overview
- Study period
- Semester 1, 2025 (24/02/2025 - 21/06/2025)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Business School
Financial information; demand and supply; audit profession; audit process; evidence, program planning, statistical sampling; examinations; analysis of organisation; internal control, testing of transactions, balances and allocations; the computer; reports; responsibility of auditor.
The course will describe and discuss: the legal framework within which auditing is undertaken; the professional and ethical responsibilities of the auditor; the conduct of an audit, including audit planning, review of organisational systems and substantive audit testing; statutory and other requirements in relation to audit reports; the concepts and impact of materiality and risk in auditing including the risk of fraud.
Sustainable Development Goals - UQ Business School is a proud supporter and Advanced Signatory of the United Nations Principles for Responsible Management Education (UN PRME). As part of the largest global collaboration between business schools and the UN, the school emphasises its role in empowering students to drive societal transformation through the Sustainable Development Goals. The SDGs highlight that a thriving economy relies on a healthy environment, aiming to balance economic growth, social well-being, and environmental protection for a sustainable future.
Course requirements
Assumed background
Before attempting this course, students are advised that it is important to complete the appropriate prerequisite course(s) listed on the front of this course profile. It is also important to note that the course assumes students have a good working knowledge of financial accounting for transactions. No responsibility will be accepted by the School of Business, the Faculty of Business, Economics and Law or the University of Queensland for poor student performance occurring in courses where the appropriate prerequisite(s) has/have not been completed, for any reason whatsoever.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ACCT2110 or 3102
Recommended prerequisites
We recommend completing the following courses before enrolling in this one:
LAWS3100
Incompatible
You can't enrol in this course if you've already completed the following:
ACCT7103
Restrictions
Quota: Minimum of 35 enrolments
Course contact
Course staff
Lecturer
Dr Grace Hsu
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Please note: Teaching staff do not have access to the timetabling system to help with class allocation. Therefore, should you need help with your timetable and/or allocation of classes, please ensure you email business.mytimetable@uq.edu.au from your UQ student email account with the following details:
- Full Name
- Student ID
- Course Code
Aims and outcomes
This course aims to provide a comprehensive introduction to the environment and methodology of auditing, including the auditor's legal, professional and ethical responsibilities, the conduct of a financial report audit, forming a professional judgement to provide the audit opinion, and statutory requirements for audit reports. This course is intended to provide the theoretical framework around which auditing knowledge and skills can be built by further formal study or on-the-job experience.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Explain auditor's statutory responsibilities and the nature and functions of auditing in the context of the audit engagement/different types of audits.
LO2.
Analyse the ethical and legal issues faced by auditors to form professional judgments on the appropriate course of action.
LO3.
Apply the stages of audit planning and preliminary procedures to form an understanding of the audit client and its environment in order to develop audit strategies and design appropriate audit procedures.
LO4.
Assess the audit client's risks, including carrying out an evaluation of the client's internal control system, and design appropriate audit procedures to identify any material misstatement in the financial statement.
LO5.
Design audit procedures to complete the audit (including testing for post balance day events) and use professional judgment to form an audit opinion.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Examination |
In-Semester Exam
|
30% |
In-semester Saturday 29/03/2025 - 12/04/2025 |
| Paper/ Report/ Annotation |
Group assignment - Audit planning and testing
|
20% |
19/05/2025 2:00 pm
Upload your case study on Blackboard via Turn-it-in before the due date. Only one student needs to submit the case study for the group but please clearly specify the identification details of all team members on the first page of the case study file. |
| Examination |
Final Exam (closed book invigilated exam)
|
50% |
End of Semester Exam Period 7/06/2025 - 21/06/2025 |
Assessment details
In-Semester Exam
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 30%
- Due date
In-semester Saturday
29/03/2025 - 12/04/2025
- Other conditions
- Time limited.
Task description
The in-semester exam will be scheduled by UQ Central for a Saturday Exam.
- The exam time/date will be announced by the UQ Central Examination Office later in the semester. Please keep an eye on your personalised UQ web sites.
- The exam will be based on the first four topics, including lectures and tutorials.
- The exam contains about 10 multiple choice questions and 3 written questions.
- The written questions include practical/problem-solving questions that require you to analyse mini cases/scenarios and apply relevant audit theories/regulations/techniques to form appropriate judgments/decisions.
- The written questions usually require you to demonstrate your understanding about important aspects of the audit process.
AI Statement:
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 90 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - specified written materials permitted |
| Materials | One A4 sheet of handwritten or typed notes, double sided, is permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Group assignment - Audit planning and testing
- Team or group-based
- Online
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 20%
- Due date
19/05/2025 2:00 pm
Upload your case study on Blackboard via Turn-it-in before the due date. Only one student needs to submit the case study for the group but please clearly specify the identification details of all team members on the first page of the case study file.
- Other conditions
- Peer assessed.
Task description
This is a group case study designed to give you some practical experience in audit planning, the application of the audit risk model, tests of control procedures, and substantive testing. The word limit of this case study is 1000 words (further instructions will be available on the Course Blackboard site). Please make sure you are up to date with all course readings and class materials before undertaking the case study.
Students need to form a group of 3 students to work on the case study together. More information will be available on Blackboard later to help you find team members. Lectures and tutorial classes are a good place to find potential team members.
The case study contains a number of questions. You must answer all questions and submit your case study in the following manner:
Please save your case study in a word document. Adobe pdf file is not acceptable.
Please Note:
- All group members need to complete a peer review section on Blackboard, the results of the peer evaluation may affect your individual mark for this assessment.
- Please avoid submitting your case study at the last minute because the system may be down or may malfunction due to the number of submission attempts at that time. Late submission without extension approval will be penalised according to the university policy.
- Please make sure you have successfully submitted the file by taking a screenshot of the receipt. Keep this receipt as proof of your submission.
- A penalty will apply if students submit this assignment as an individual assignment without the course coordinator's approval.
AI Statement:
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
The assignment must be submitted electronically on Blackboard through Turnitin.
Deferral or extension
You may be able to apply for an extension.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Final Exam (closed book invigilated exam)
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 50%
- Due date
End of Semester Exam Period
7/06/2025 - 21/06/2025
- Other conditions
- Time limited.
Task description
This exam is a closed book, invigilated exam as required by UQ and Professional Accounting organisations.
The exam time/date will be announced by the UQ Central Examination Office later in the semester.
The final exam contains about 4 to 5 written questions. Each question contains a number of short answer /short essay /problem solving /application questions.
The written questions focus on problem-solving, which involves analysing cases/scenarios and applying relevant audit theories/ regulations/ techniques to form appropriate judgments/ decisions.
Exam questions also require you to demonstrate your understanding of important aspects of the audit process.
More details of the final exam will be made available towards the end of the semester.
You are advised that ALL areas of the course are examinable and thus leaving out any section of the course material from your study plans would be ill-advised.
AI Statement:
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) tools will not be permitted. Any attempted use of Generative AI may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - specified written materials permitted |
| Materials | One A4 sheet of handwritten or typed notes, double sided, is permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0 - 29 |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30 - 46 |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47 - 49 |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50 - 64 |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65 - 74 |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75 - 84 |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85 - 100 |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
Grades will be allocated according to University-wide standards of criterion-based assessment.
Supplementary assessment
Supplementary assessment is available for this course.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 |
Lecture |
Topic 1: Introduction and Audit Objectives |
Week 2 |
Tutorial |
Tutorial 1: Introduction and Audit Objectives |
Lecture |
Topic 2: Audit Reports |
|
Week 3 |
Tutorial |
Tutorial 2: Audit Reports |
Lecture |
Topic 3: Ethics, Auditor Legal liabilities |
|
Week 4 |
Tutorial |
Tutorial 3: Ethics; Auditor Legal Liabilities |
Lecture |
Topic 4: Audit Risk Model and Audit Evidence |
|
Week 5 |
Tutorial |
Tutorial 4: Audit Risk Model and Audit Evidence |
Lecture |
Topic 5: Audit Planning, Materiality and Risk |
|
Week 6 |
Tutorial |
Tutorial 5: Audit Planning, Materiality and Risk |
Lecture |
Topic 6: Internal Control, Control Risk and Fraud |
|
Week 7 |
Lecture |
To be announced Depending on the actual mid-exam date, one of the weeks among week 5, 6 and 7 is reserved for other activities. |
Week 8 |
Tutorial |
Tutorial 6: Internal Control, Control Risk and Fraud Good Friday Public Holiday - Friday 18 April 2025 - Check Blackboard for announcements about affected classes. |
Lecture |
Topic 7: Tests of Controls and Substantive Tests 1 |
|
Mid-sem break |
No student involvement (Breaks, information) |
In-Semester Break No tutorial or consultation this week. |
Week 9 |
Tutorial |
Tutorial 7: Tests of Controls and Substantive Tests 1 |
Lecture |
Topic 8: Tests of Controls and Substantive Tests 2 |
|
Week 10 |
Tutorial |
Tutorial 8: Tests of Controls and Substantive Tests 2 Labour Day Public Holiday - Monday 5 May 2025 - Check Blackboard for announcements about affected classes. |
Lecture |
Topic 9: Tests of Controls and Substantive Tests 3 |
|
Week 11 |
Tutorial |
Tutorial 9: Tests of Controls and Substantive Tests 3 |
Lecture |
Topic 10: Audit Sampling and Legal Liabilities |
|
Week 12 |
Tutorial |
Tutorial 10: Audit Sampling and Legal Liabilities |
Lecture |
Topic 11: Completing the Audit |
|
Week 13 |
Tutorial |
Tutorial 11: Completing the Audit |
Lecture |
Revision |
Additional learning activity information
Sustainable Development Goals
This course integrates the following Sustainable Development Goals (SDGs) throughout course learning activities.
Goal 8: Decent work and economic growth
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.