Task:
Critically evaluate the role & duties of external financial report auditors.
Critically evaluate the contemporary risk & assurance approaches to audit.
Identify and evaluate the relevant legislation, Australian
Auditing standards, professional & legal responsibilities of external financial report auditors.
Apply concepts of assurance, compliance & business risk to the auditing process.
Identify & analyse indicators of potential misstatements, including fraudulent & non-fraudulent activities.
Critically evaluate the role of human behaviour as an element within the audit process.
Formulate & perform risk analysis, analytical & review processes & procedures to detect or refute existence of misstatements.
To be eligible to pass this subject, students must complete all assessment tasks for this subject. In addition, you must achieve a total mark of 50% or over and obtain a minimum of 50% in the final examination or major piece of assessment (where there is no final exam).
In accordance with the General Course Rules where a student gains a mark of 50 or greater and does not meet the specified level in an assessment task required to pass the subject, a Technical Fail (TF) grade for the subject will appear on their Academic Transcript. Where a Technical Fail is given the following applies:
a. Failure of the subject;
b. a TF without a mark will be granted;
c. a TF will be presented on the student’s academic transcript;
d. The allocated mark of 49 will be used as the WAM calculation for subjects at all levels.
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