Instant Feedback Facility (IFF)
We want to hear from our students. If you have any comment or suggestion on any aspect of this module (or any module) please send it to: ulmsenq@liv.ac.uk . Make sure that you clearly mark your e-mail message "IFF - Instant Feedback Facility"
1. Module information
Name of module: Advanced Auditing
Module code: ACFI 301
Credit value: 15 credits
Semester: TWO
Pre-requisites: ACFI 210
Co-requisite: N/A
The module is available to programmes NZ00 and N401
Professional accreditation: This module provides, in combination with other modules, exemptions from some professional exams in audit and assurance. The ICAEW demands a minimum mark of 55% in this paper in order to obtain exemption.
2. Module Leader and Contact Details
Phillip Ormrod
Room: Room F13, First floor, Management School; Chatham St
Office hour Monday 1.30pm to 2.30pm (or you can drop in at any time that I am available)
Helen Scott
Room: Room F13, First floor, Management School; Chatham St
Telephone: (0151) 795 3102 (undergraduate office)
E-mail helen.scott@liverpool.ac.uk
Office hour Thursday 2:30pm to 3:30pm (or send me an e-mail if you would like to meet at a different time)
3. Module Objectives
The aims of this module are:
To develop an understanding of the critical aspects of managing an assurance engagement (including audit engagements): acceptance, planning, managing, concluding and reporting.
4. Learning Outcomes
On completion of this module, students will be expected to demon:
LEARNING OUTCOME
TAUGHT
ASSESSED understand and advise on the regulatory, professional and ethical issues relevant to those carrying out an assurance engagement.
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√ understand the processes involved in accepting and managing assurance engagements.
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√ understand how quality assurance processes mitigate risks.
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√ plan assurance engagements in accordance with the terms of the engagements and appropriate standards
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√ conclude and report on assurance engagements in accordance with the terms of the engagements and appropriate standards.
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5. Transferable Skills
The Management School has identified a set of key skills which it expects its students to develop throughout their studies. These are skills which are actively sought by employers and which together form the “ULMS Graduate”.
This module helps students to develop the following skills:
Organisational skills
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Communication skills
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IT skills
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International awareness
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Lifelong learning skills
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Ethical awareness
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For further information about the ULMS Graduate and an explanation of what we expect our students to develop in relation to each skill, please see appendix A at the end of this handbook.
6. Teaching and Learning Strategies
Lectures
In order to cover the wide range of regulatory material relevant to this course there will be three hours of lectures per week. This weighting is also necessary to satisfy the accreditation requirements of the professional accounting bodies.
Lectures will be interactive requiring students to work through short problems to test understanding.
Workshops
Some of the lecture times will be used to hold a workshop. Where appropriate, it is essential that this work is completed and brought along to the workshop lecture where the solutions will be explained and discussed. Additional questions will also be handed out.
It is important that you are willing to participate in lectures and workshops.
One part of the lectures will aim to test your learning. This will include regular questions in lectures, but also using a
