AF6033 - Assurance

You will be supported by a teaching and learning plan which outlines the formal sessions, together with tutor-directed study and independent learning, including reading. An interactive approach to lecture sessions will draw upon the directed learning undertaken and participants’ own experiences. Throughout, the emphasis will be on high levels of participation, by both you individually, and within small groups or teams. Workshops and seminars will focus both on interpreting and debating relevant academic research, and on applying auditing skills to ‘real life’ situations through a reflective-practitioner approach, critically analysing and making recommendations for appropriate ways forward for the organisation/individual. You will be encouraged to develop professional skills, such as professional scepticism, ethical and commercial awareness and apply them to these exercises. The practical aspects are informed by contact with practitioners and may involve input from a practice-based guest lecturer.

Directed learning will centre upon a range of activities including pre-reading, preparation for interactive activities and use of the audit simulation on the e-learning platform.

Independent learning will centre upon you identifying and pursuing areas of interest in relation to the subject area or by providing deeper/broader knowledge and understanding of the subject through a range of learning activities that might include extended reading, reflection, research etc.

You will learn through both tutor- and student - led activities during contact hours, alongside independent completion of directed study activities. Directed study is highlighted on the teaching and learning plan, alongside updates to recommended reading during lectures and seminars.

During contact teaching hours, you will be supported by the tutors, and key reading from both the academic and practice led literature bases will be highlighted to you (including reference to the relevant International Auditing Standards). Tutors will be available both during sessions, and via email to answer student queries about the module. Formative feedback will be provided by tutors, both verbally during teaching sessions, and through additional guidance documentation on the eLearning Portal.

The e learning portal site of the module will be populated with information on taught activities in advance of all sessions.

The audit simulation will be accessible via e learning portal site of the module throughout the module, to allow you to explore examples of audit processes and documentation in preparation for your assessment.

Examples of prior examination questions will also be available for you to access, to enable you to prepare accordingly for assessment.

All modules at Northumbria include a range of reading materials that students are expected to engage with. Online reading lists (provided after enrolment) give you access to your reading material for your modules. The Library works in partnership with your module tutors to ensure you have access to the material that you need.

Knowledge & Understanding:

• At the end of the modules you are expected to have critically analysed the role of the auditing business in the corporate world (MLO1).

• Identify audit risk and select, with justification, appropriate audit techniques to obtain audit evidence to support the formulation of the audit opinion appropriate to professional practice (MLO2).

Intellectual / Professional skills & abilities:

• Critique the development of your auditing practice in the context of progression to professional settings (MLO3).

Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):

• At the end of the modules you are expected to have critically analysed the role ethics within the auditing profession (MLO4).

Formative Assessment:
Formative assessment will be provided to you through a range of seminar activities which will enable you to prepare for summative assessment during, and at end of the module. You will be given the opportunity to develop your examination skills through exemplar examination questions. Formative assessment will be provided by tutors during sessions, and through guidance notes to seminar activities.

Summative Assessment:
2 ½ hour closed book examination plus 15 minutes reading time (80%). The exam will contain a mix of short form, case study, and essay questions in order to meet the learning objectives (MLO1, MLO2, MLO3 & MLO4).

Practical ‘Online’ assessment (20%) under examination conditions. Students are allowed 1 hour + 15 mins reading time. Digital feedback will be provided via Electronic Student Assessment and Feedback (ESAF). Learning objective assessed through a practical ‘audit’ task being completed, which is related to the audit simulation (MLO2)

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Using a range of theoretical teaching and practical activities, this module explores the nature of assurance and the role of the professional auditor. It will give you an insight into the practical aspects of how and why assurance engagements are performed, paying particular attention to audit and its role in corporate reporting. You’ll explore and learn to critically appraise the theory supporting current audit practice, and consider the nature and influence of audit risk, independence and liability within the modern audit. You’ll also focus on the contemporary and contentious issues surrounding audit quality and the ethical conflicts arising from audit as a business.