Module Code - Title:
AC4005
-
AUDITING AND GOVERNANCE
Year Last Offered:
N/A
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module introduces the principles and frameworks of corporate governance, with a focus on how company structures are established, governed, and regulated across the lifecycle of an organization. The module develops student's technical skills and theoretical knowledge to understand risk assessment processes, and to develop and understand the significance of audit evidence, audit procedures and audit planning. By applying auditing principles to evaluate financial statement assertions and disclosures, the student understands how the ethical and professional role of the auditor underpins the credibility of financial reporting on which business transactions depend.
Syllabus:
An overview of corporate structure and corporate governance, with a focus on accountability, responsibility, and transparency. It examines key governance mechanisms that promote corporate transparency, alongside essential aspects of anti-money laundering legislation and insolvency. It also covers auditing principles and concepts, the internal control system (ICS), auditing procedures for evaluating the ICS, the auditor’s opinion, with emphasis placed on the audit performance–expectations gap and the professional and ethical responsibilities of the auditor.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students will be able to:
Outline the regulatory and legislative environment affecting the formation, insolvency, and financial reporting of companies.
Evaluate governance mechanisms that promote corporate transparency and support reliable financial reporting.
Apply auditing principles by selecting appropriate audit procedures, challenging audit assertions, and justifying the auditor’s opinion in given circumstances.
Affective (Attitudes and Values)
On successful completion of this module, students will be able to:
Identify the ethical concerns regarding auditor independence.
Acknowledge the importance and value of ethical governance and the role of directors and auditors in supporting trust and accountability within the corporate governance framework.
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
The Auditing and Governance module is taught through a combination of lectures and tutorials. Lectures introduce core concepts in corporate governance, auditing standards and ethical responsibilities. Tutorials enable students to apply these principles. This module develops key Graduate Attributes, particularly being responsible and articulate, by requiring students to engage with ethical dilemmas, demonstrate professional judgement, and clearly communicate audit and governance conclusions.
Prime Texts:
A.Millichamp, J. Taylor (2021)
Auditing, 12th Edition
, Cengage Learning EMEA
Other Relevant Texts:
Programme(s) in which this Module is Offered:
BACHELOR OF BUSINESS STUDIES
BACHELOR OF BUSINESS STUDIES WITH FRENCH
BACHELOR OF BUSINESS STUDIES WITH GERMAN
BACHELOR OF BUSINESS STUDIES WITH JAPANESE
BACHELOR OF BUSINESS STUDIES WITH SPANISH
Semester(s) Module is Offered:
Autumn
Module Leader:
Muhammad.Shahin@ul.ie