AF304

Auditing
COURSE OUTLINE

1. SEMESTER/YEAR: Semester 2, 2022

2. MODE OF DELIVERY/LOCATION: F2F (Laucala) and Blended (Other Campuses).

3. PRE-REQUISITES: AF210

4. COURSE CO-ORDINATOR: Professor Arvind Patel

5. TEACHING TEAM

Name: Arvind Patel Name: Mr. Krishneel Tiwari

Office: Postgraduate Office: Greenhouse room SAFE Building
Library Ground Level Phone: 32 31872
Phone: TBA Email: krishneel.tiwari@usp.ac.fj
Email: arvind.patel@usp.ac.fj Consultation Hours: TBA (Email)
Consultation Hours: TBA

6. LECTURE TIMES & VENUE

Face to Face lectures. Time: Tuesdays 10am to 12pm at 092-001

7. EMERGENCY CONTACT:
Name: Ms. Gloria Yam (School of Accounting, Finance & Economics
Secretary)Phone: 32 32517
Email: Gloria.yam@usp.ac.fj

8. COURSE DESCRIPTION
This course is designed to introduce students to the general principles and processes of the
audit and assurance function on an ever-changing environment. In thin course the practice
of auditing is explained in the context of auditing theory, concepts and current practice with
appropriate reference to the respective international auditing standards. Auditors play vital
role in the business and current economic environment with increasing responsibility for
ensuring both organizational and market integrity. The development of auditing practice
reflects how the accounting profession has responded to the complex demands of
information, competition, corporate failures and technology. Auditing continues to evolve in

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 response to the changing business and regulatory landscape to maintain its relevance and
importance.

9. COURSE LEARNING OUTCOMES

On successful completion of this course, students should be able to:

1. Comprehend the assurance framework and explain the role of auditing standards;
2. Critically evaluate issues currently facing the profession, including the provision of
expanded assurance and other services by the auditor to their clients, the impact of new
audit methodologies on audit-client relationships and other issues concerning the
independence of auditors;
3. Explain the nature and importance of professional ethics, independence, corporate
governance, fraud, related parties and appropriateness of the going concern basis;
4. Assess for materiality and describe and explain the test of controls;
5. Explain the purpose and steps involved in reviewing working papers and the financial
report, including the summarization and evaluation of audit results, performance of
analytical procedures in an overall review and the auditor’s reporting obligations;
6. Describe assurance services required by specific legislation or regulations including
prospective financial information and reports on internal controls; and
7. Describe other applications of the audit functions, including compliance auditing,
performance auditing, comprehensive auditing, internal auditing, forensic auditing and
the audit function in the public sector.

10. USP GRADUATE OUTCOMES

The USP graduate outcomes are as follows:

1. Creativity: Graduates will generate new ideas and approaches to solve problems
2. Communication: Graduates will choose appropriate language and modes of
communication to share ideas and capture understanding
3. Critical thinking: Graduates will evaluate ideas and opinions before forming a conclusion
4. Ethics: Graduates will apply ethical reasoning to their actions and decision-making
5. Pacific consciousness: Graduates will recognize the cultural heritage, and diversity of
Pacific societies
6. Professionalism: Graduates will apply professional principles, values and ethics to their
work
7. Teamwork: Graduates will collaborate with people of diverse perspectives to achieve
goals.

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11. PROGRAM LEARNING OUTCOMES

On successful completion of the program, graduates will be able to:

Program Learning Outcomes Addressed via
CLO(s)
P1 Evaluate/judge/test arguments, ideas and theories 1-7
P2 Demonstrate a disposition and capacity to understand career long 1-7
independent learning in the field of accounting
P3 Discriminate between relevant and irrelevant information in framing 1-7
decisions
P4 Address real world problems irrespective of whether they can be 1-7
resolved by reductionism or not
P5 Apply knowledge, principles and skills embodied in the curriculum of 1-7
the accounting major appropriately and accurately
P6 Efficiently formulate and effectively communicate accounting 1-7
information to users of such information
P7 Apply the regulatory framework for financial reporting 1-7
P8 Exercise professional judgement in applying accounting policies in the 1-7
framing of financial reports
P9 Critically appraise financial social and environmental accounting 7
practices employed by entities
P10 Assess the relevance and capacity for practices in South Pacific Island 7
countries
P11 Articulate the role of the law does and can play in facilitating good 1-4
commercial practices
P12 Demonstrate levels of post conventional moral reasoning (as per 2
Kolberg’s hierarchy) in the product of their daily lives.
P13 Articulate, observe and apply principles of good governance 2-4
P14 Make proficient use of information systems in organizations and 6-7
make critical decisions relating to the use of information technology
in organizations.

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 11. COURSE CONTENT

Week Date Focus for Each Textbook Tutorial

Week Chapters Questions
1 15th – 19th Aug An overview of Auditing 1 RQ - 1.13, PQ -
1.26, CS - 1.29
2 22nd – 26th Aug Governance and the auditor 2 RQ – 2.14, PQ –
2.21, CS – 2.27
3 29th – 2nd Sept Professional ethics, regulation and 3 RQ – 3.14, PQ –
liability 3.25, CS – 3.31
4 5th – 9th Sept Quality and standards 4 RQ – 4.12, PQ –
of assurance 4.30, CS – 4.31
engagements
5 12th – 16th Sept Overview of the audit of financial 5 RQ – 5.16, PQ –
reports 5.23, CS – 5.28
6 19th – 23rd Sept Clients evaluation and planning the 7 RQ – 7.17, PQ –
audit 7.21, CS – 7.31
7 26th – 30th Oct Audit risk assessment/ MST 8 RQ – 8.15, PQ –
8.23, CS – 8.31
3rd Oct – 7th MID SEMESTER BREAK
Oct
8 10th – 14th Oct Materiality and audit evidence 9 RQ – 9.14, PQ –
9.27, CS – 9.31
9 17th – 21st Oct Test of Controls 10 RQ –
10.13
, PQ
–
10.23
, CS –
10.33
10 24th – 28th Oct Designing substantive procedures 11 RQ –
11.14
, PQ
–
11.27
, CS –
11.31
11 31st – 4th Nov Managing audit data 12 RQ –
12.15
, PQ
–
12.25
, CS –
12.27
12 7th – 11th Nov Completing the audit 13 RQ –
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 13.13
, PQ
–
13.23
, CS –
13.30
13 14th – 18th Nov The auditor’s report 6 RQ – 6.15, PQ –
6.24, CS – 6.29
14 21st – 25th Nov Revision for Final Examination
15/16 28th – 16th Dec FINAL EXAMINATION
PERIOD

12. PRESCRIBED TEXT AND OTHER RESOURCES

Course Text
Leung, P., Coram, P., Cooper, B., Richardson, P., 2019. Auditing and Assurance Services, 1st
Edition, John Wiley & Sons Limited, Australia.

Note: all students are strongly encouraged to purchase their own copy of the textbook. A
copy of the textbook is on reserve in USP library.

Students are encouraged to refer to journals to increase their understanding of the concepts
and issues related to the course. The following is a list of top accounting journals which feature
articles in the area of auditing:

• Journal of Accounting, Auditing and Finance

• Auditing: A Journal of Practice and Theory
• Accountancy, CA Journal of New Zealand
• Accounting and Finance
• Accounting Review
• Critical Perspectives on Accounting

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 • Journal of Accounting Research
• Accounting, Organisation and Society

This list is not exhaustive and students are encouraged to refer to other journals, which
they believe are relevant.

Course Website
The course website is hosted on Moodle (http://elearn.usp.ac.fj/). To access the course
website, you must be enrolled in the course. All announcements and resources will be posted
on Moodle. Students are encouraged to discuss issues or queries using Moodle forums.

13. ALIGNMENT OF LEARNING OUTCOMES, ACTIVITIES AND ASSESSMENT

The following table demonstrates the alignment of the course learning outcomes to appropriate
activities and assessments and the links to programme and USP graduate outcomes.

Course Associated Assessment Programme USP Graduate Outcomes

Learning Teaching and Outcomes
Outcome Learning
Activities
CLO 1 Lecture, tutorial Discussion in P1, P5 Communication, Critical
tutorials, MST Thinking,
CLO 2 Lecture, tutorial Discussion in P2, P3 Communication, Creativity,
tutorials and Critical Thinking
MST
CLO 3 Lecture, tutorial Discussion in P4 Teamwork
tutorials and
MST
CLO 4 Lecture, tutorial Discussion in P5, P8 Communication, Critical
tutorials and Thinking
MST
CLO 5 Lecture, tutorial Assignment, P7, P10 Critical thinking, teamwork
Final Exam
CLO 6 Lecture & Final Exam P6, P11 Critical thinking
tutorial
CLO 7 Lecture & Final Exam P12, P13 Critical thinking, ethics
tutorial

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14. ASSESSMENT
14.1. ASSESSMENT PORTFOLIO

TYPE OF ASSESSEMENT WEIGHT Comments/Rationale Learning Outcome

CONTINUOUS ASSESSMENT 50%
Mid Semester Test 30% MST will be held in Week 7, TBA CLO 1, 2, 3 & 4

Format will be given later.

Moodle Quizzes 5% There will be five (5) online quizzes worth 1% CLO 1-7
each based on the weekly topics and will be
conducted via moodle. Each quiz will be timed
and commence from week 2 on-wards.

Major Assignment 15% Assignment will Group based. This will CLO 1-5
develop critical thinking, evaluation and
reporting.
Assignment will be due in Week 9, 21st
October, 2022 at 11.55pm (Fiji time)
FINAL EXAMINATION ---- 50% ---- TBA CLO 1-7

14.2. PASSING THE UNIT

In order to be awarded a pass in this unit, students must:

1. Achieve an overall mark of at least 50% in the course.
2. Score at least 40 out of 100 for the final exam (equal to the min 20% for the course)
You DO NOT need to obtain a minimum mark in the coursework element, including the
test(s).

14.3. GRADE DISTRIBUTION

A+ A B+ B C+ C D E
85-100 78-84 71-77 64-70 57-63 50-56 40-49 0-39

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 14.4. ASSESSMENT POLICIES AND REGULATIONS

For detailed regulations, please refer to the USP Handbook and Calendar.

Plagiarism, copying materials from other sources without proper referencing and
acknowledge of the source is a serious offence and will be dealt with severely. In the
Regulations Governing Academic Misconduct section of the USP Handbook & Calendar
plagiarism is defined as “the copying of another person’s creative work and using it as one’s
own – without explicitly giving credit to the original creator. Work copied without
acknowledgement from a book, from another student’s work, from the internet or from any
other source”. If lecturer is satisfied that plagiarism has occurred, they will report the matter
to the Head of School. They can reduce marks appropriately. If the matter is seen as serious
enough it can be taken to the Student Disciplinary Committee by the Head of School.

15. STUDENT SUPPORT

The Disability Resource Centre can assist student with special needs. USP has a Diability
Inclusiveness Policy which ensures that students with special needs are not discriminated
against. See their website for more information: http://www.usp.ac.fj/index.php?id=12781.

15.1. ONLINE HELP & e-Learning INFORMATION

For technical matters relating to the course, feel free to contact your course coordinator. For
technical issues not related to Moodle, you can also consult your local ITS personnel or visit
their website at http://www.usp.ac.fj/index.php?id=13939
15.2. FACULTY STUDENT LEARNING SUPPORT (SLS) SERVICES

SAFE provides SLS services through the following staff, who coordinates peer mentoring for many
courses at Laucala Campus. SLS also conducts workshops and provides assistance with general
study skills as a listening speaking, writing and referencing. Please visit their website for more
information http://www.usp.ac.fj/index.php?id=8434
Name: Ms. Roshila Singh Ms. Pauline Ryland Ms. Joycelyn Devi
Office: 091 (CELT Building) Rm: 091 (CELT Building) Rm: FBE Building Rm: 032
014 015
Email: roshila.singh@usp.ac.fj pauline.ryland@usp.ac.fj joycelyn.devi@usp.ac.fj
Phone: 3232184 3232146 3231906

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16. IMPORTANT DATES

Activity Week/Comments Weighting (%)

Mid Semester Test MST will be in Week 7. Date and 30%
time TBA.

Moodle Quizzes 5 Online Quizzes worth 1%. 5%

Commence Week 2 on-wards.

Major Assignment Group assignment. Due in week 9 15%

21st of October, 2022 at
11.55pm (Fiji Time)
Final Examination TBA 50%

17. ADDITIONAL COURSE ATTENDANCE

17.1. TUTORIALS
Tutorials will be face to face. Schedule is indicated below. Students must attend one of the
sessions per week. Student are requested to sign-up for only one session on moodle.

Day Time
Tuesday 12pm to 1pm (093-002)
1pm – 2pm (093-002)
2pm – 3pm (093-002)

Wednesday 10am – 11am (093-003)

11am – 12pm (093-003)
12pm – 1pm (093-003)
1pm – 2pm (093-003)
4pm – 5pm (093-001)
5pm – 6pm (093-001)

Thursday 10am – 11am (093-001)

11am – 12pm (093-001)

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 1pm – 2pm (093-203)
2pm – 3pm (093-203)
3pm – 4pm (093-203)
4pm – 5pm (093-203)

Friday 11am – 12pm (093-003)

1pm -2pm (093-207)
2pm – 3pm (093-207)

Zoom tutorial Wednesdays: 11am – 12pm

(For Other Campuses Only)
Zoom tutorial Thursdays: 11am – 12pm
(For Other Campuses Only)

17.2. MAJOR ASSIGNMENT

The major assignment is Group based. Assignment will be due in week 9, Sunday 21 st October,
2022 at 11.55pm (Fiji Time). The assignment details will be posted on Moodle by week 2. Group
sign in page will open in Week 2.

18. EXPECTATIONS OF STUDENTS

18.1 STUDENT RESPONSIBILITIES

Students are expected to:

• Spend enough time on Moodle and other activities required in the course
• Attend all lectures, workshops, team meetings etc. unless hampered by illness in which
case you must inform your course coordinator and team members.
• Arrange with the team members to work in their own times on the project.
• Maintain proper attire for the laboratory, clothing, shoes etc.
• Facilitate the course coordinator with any proof that he/she was sick and unable to attend
classes or assessment at the earliest possible time to avoid getting a zero mark for the
missed assessment.

18.2 STUDENT WORKLOAD

Managing your time is of utmost importance. Below is a suggestive time allocation table to
assist you. This is based on a per week workload and is to be taken as a rough guide. Each
student should be able to work out what works best for them to ensure that they
successfully pass this course.

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 TYPE Hours Comments
Readings 4 Completing allocated weekly readings from the
textbook and making your own summaries.
Online activities 4 Watching online videos/participating in zoom
sessions and discussion forums and
undertaking weekly activities.
Assessment 3 This may include working on assignments and
revising for tests/exams.
Others 1 This may include discussions with the AF304
teaching team and with peers.
TOTAL 12

GOOD LUCK

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