Auditing
BF3394 – AUDITING AND PROFESSIONAL ETHICS
Module Number: Module Title: BF3394 AUDITING & PROFESSIONAL ETHICS 10 credits
Number of Aston Credits:
Total Number of ECTS Credits: 5 credits (European Credit Transfer) Staff Member Responsible for the Module: Dr Melina Manochin Finance and Accounting Group ABS Building, Room 410, Extension 3732 m.m.manochin@aston.ac.uk Availability: Please see office hours on door or group administrator, Ms Rosaleen Shirley, ABS 404, Extension 3238
Other Staff Contributing to the Module: Mrs Lisa Weaver Finance and Accounting Group ABS Building, Room 408, Extension 3024 l.weaver@aston.ac.uk Availability: Please see office hours on door or group administrator, Ms Rosaleen Shirley, ABS 404, Extension 3238
Pre-Requisite(s) for the Module: Module Objectives/Learning Outcomes:
BF2211 Financial Accounting
The purpose of this module is to explore the role of self-regulation and address some of the ethical issues faced by accountants and auditors, and to enable students to obtain a critical understanding of the practice and function of auditing in ensuring the accountability of organisations to interested parties. Upon successful completion of the module students will be able to: 1. Understand the social, economic, legal and ethical responsibilities of auditors; 2. Highlight the interconnectedness of law and ethics and be aware of their legal and professional obligations; 3. Embed ethical thinking within their professional decision making process; 4. Show an increased sensitivity to potential ethical conflicts within auditing. 5. Explain the relevance of the concepts of materiality and audit risk to planning the audit;
ABS 2011/12 Page 1 of 5 BF3394
BF3394 – AUDITING AND PROFESSIONAL ETHICS
6. Discuss the importance of the business risk model for assessing audit risk and identifying high-risk audit areas; 7. Discuss the importance of reviewing and documenting the accounting system and the control environment; 8. Describe
Module Number: Module Title: BF3394 AUDITING & PROFESSIONAL ETHICS 10 credits
Number of Aston Credits:
Total Number of ECTS Credits: 5 credits (European Credit Transfer) Staff Member Responsible for the Module: Dr Melina Manochin Finance and Accounting Group ABS Building, Room 410, Extension 3732 m.m.manochin@aston.ac.uk Availability: Please see office hours on door or group administrator, Ms Rosaleen Shirley, ABS 404, Extension 3238
Other Staff Contributing to the Module: Mrs Lisa Weaver Finance and Accounting Group ABS Building, Room 408, Extension 3024 l.weaver@aston.ac.uk Availability: Please see office hours on door or group administrator, Ms Rosaleen Shirley, ABS 404, Extension 3238
Pre-Requisite(s) for the Module: Module Objectives/Learning Outcomes:
BF2211 Financial Accounting
The purpose of this module is to explore the role of self-regulation and address some of the ethical issues faced by accountants and auditors, and to enable students to obtain a critical understanding of the practice and function of auditing in ensuring the accountability of organisations to interested parties. Upon successful completion of the module students will be able to: 1. Understand the social, economic, legal and ethical responsibilities of auditors; 2. Highlight the interconnectedness of law and ethics and be aware of their legal and professional obligations; 3. Embed ethical thinking within their professional decision making process; 4. Show an increased sensitivity to potential ethical conflicts within auditing. 5. Explain the relevance of the concepts of materiality and audit risk to planning the audit;
ABS 2011/12 Page 1 of 5 BF3394
BF3394 – AUDITING AND PROFESSIONAL ETHICS
6. Discuss the importance of the business risk model for assessing audit risk and identifying high-risk audit areas; 7. Discuss the importance of reviewing and documenting the accounting system and the control environment; 8. Describe
Bibliography: J. Dunn (2006), Auditing: theory and practice, 2nd edition, Prentice Hall Arens, A., Best, P., Shailer, G, Fiedler, B. Elder R. and Beasley M. (2005), Auditing and Assurance Services (7th ed), Pearson Education (includes ACL software disk) A. Arens and J. Loebbecke (2008), Auditing: an integrated approach, Pearson Education J. Maltby (2006), Cases in auditing, 2nd edition, Paul Chapman Publishing Ltd D. Walters and J. Dunn (2005), Student’s manual of auditing, 6th edition, Thomson Learning D. Guy, D. Carmichael and O. Whittington (2004), Audit sampling: an introduction, John Wiley & Sons Inc ABS 2011/12 Page 4 of 5 BF3394 BF3394 – AUDITING AND PROFESSIONAL ETHICS Callahan.J (1988) Ethical Issues in Professional Life Oxford University Press Desjardins J (2003), An Introduction to Business Ethics, London: McGraw Hill. Duska R.F (2005) Accounting Ethics Blackwell Publishing R.T Wearing (2005), Cases in corporate governance, Sage publications R. Duska, B. Duska and J. Ragatz (2011), Accounting ethics (foundations of business ethics), Wiley-Blackwell http://www.frc.org.uk/apb/publications/ethical.cfm - Auditing Practices Board Ethical Standards Journals Auditing: a Journal of Praqctice and Theory International Journal of Auditing Accounting Review Journal of Accounting and Economics Journal of Accounting Research Journal of Business Finance and Accounting British Accounting Review Journal of Business Ethics Business Ethics: a European Review Journal of Ethics Journal of Academic and Business Ethics Business Ethics Quarterly Journal of Business Ethics Education (JBEE). Corporate Governance: An International Review, Corporate Governance: the International Journal of Business Newspapers/ Magazines The Economist: www.economist.com Financial Times: www.ft.com Wall Street Journal: www.wsj.com Institute of Chartered Accountants of England and Wales: www.icaew.com Institute of Chartered Accountants in Scotland www.icas.org.uk Institute of Business Ethics www.ibe.org.uk/ International Auditing and Assurance Standards Board http://ifac.org/IAASB ABS 2011/12 Page 5 of 5 BF3394