Accountability and Auditing

BMAN30131 Accountability and Auditing 10 Semester 1 Undergraduate Level 3 Vlad-Andrei Porumb Unit coordinator Javed Siddiqui Unit coordinator Alliance Manchester Business School 1 FHEQ level (Framework for Higher Education Qualifications) ' Last part of a Bachelors ' European Credit Transfer & Accumulation System Rating : 5.0 This course is designed to introduce the major aspects of the theory and practice of auditing, its historical development and international variations in practice, and to develop students’ understanding of debates and regulatory developments relating to auditing. The course places primary emphasis on issues connected with understanding the roles served by financial statement auditing (for instance, the need for auditor independence, the problem of fraud, how auditors communicate their findings, and the nature of the evidence process auditors use to support their opinions), rather than detailed procedural aspects of auditing practices and techniques. This course is designed to introduce the major aspects of the theory and practice of auditing, its historical development and international variations in practice, and to develop students’ understanding of debates and regulatory developments relating to auditing. The course places primary emphasis on issues connected with understanding the roles served by financial statement auditing (for instance, the need for auditor independence, the problem of fraud, how auditors communicate their findings, and the nature of the evidence process auditors use to support their opinions), rather than detailed procedural aspects of auditing practices and techniques. The focus of this course is on the nature of the financial statement auditor’s role in society and on the adequate performance of that role. The principal aims are: - To critically evaluate the position that financial statement auditing occupies in the economic relationships surrounding organisations and the contribution it makes to achieving accountability;- To introduce students to major recent and current debates in the regulation of auditing; - To explain and analyse the main steps involved in conducting financial statement audits and the decisions auditors make in that process. On completion of this course, students should be able to:- Explain theoretical rationalisations for financial statement auditing; - Demonstrate understanding of major auditing concepts such as independence, evidence and reporting; - Explain the main stages of the audit process and developments in audit methodologies; - Discuss the content and types of opinion in an auditor’s report; - Demonstrate an appreciation of recent debates and policy/regulatory developments concerning the auditors’ role in corporate governance and accountability. 20 contact hours; 2 hour lecture/workshop each week for 10 weeks.The course is taught through a weekly two-hour class session. These sessions include a mix of lecture presentation, group discussion, exercises and feedback.Total study hours: 100 hours split between lectures, classes, self-study and preparation for classes, coursework and examinations.Informal Contact Methods 1. Office Hours 2. Online Learning Activities (discussions) 0 Other 100% 2 hour examination (100%) Only for exchange students admitted via the Alliance Manchester Business School International Office that are unavailable for examination in January and take this course as BMAN30561, the assessment will be an essay assignment.     - Informal advice and discussion during class sessions.- Responses to student emails, questions and assignments from a member of staff including feedback provided through online discussion forums.- Individual feedback on work submitted for comment.- Generic feedback posted on Blackboard regarding overall examination performance.  BMAN21020A Financial Reporting and Accountability Pre-Requisite Compulsory BMAN21020B Financial Reporting and Accountability Pre-Requisite Compulsory BMAN 21020B is a Pre-Requisite of BMAN 30131.Pre-requisite course units have to be passed at 40% or above at the first attempt unless a higher percentage is indicated within this course outline. If the pre-requisite unit is defined as a compulsory course unit within your programme of study (Maths with Finance, IBFE, Accounting, BA Econ pathways for example) then progression onto the dependent unit is permitted as long as you have gained the appropriate amount of credit to progress on to the following year of your registered undergraduate programme.      N * Students should not buy any textbooks until the title is confirmed in the first lecture *Porter, B., Simon, J. and Hatherly, D., (2014), Principles of External Auditing, 4th Ed, John Wiley & Sons Ltd: England. Throughout the course reference will be made to relevant journal articles and pronouncements from regulatory bodies, such as the UK Financial Reporting Council, and the International Audit and Assurance Standards Board, as well as material from the financial press.   Assessment written exam 2 Lectures 20 0 78 Length of course: 12 weeksPre-requisite course units have to be passed at 40% or above at the first attempt unless a higher percentage is indicated within this course outline. If the pre-requisite unit is defined as a compulsory course unit within your programme of study (Maths with Finance, IBFE, Accounting, BA Econ pathways for example) then progression onto the dependent unit is permitted as long as you have gained the appropriate amount of credit to progress on to the following year of your registered undergraduate programme. Pre-requisites: BMAN21020 Financial Reporting and AccountabilityCo-requisites: NoneDependent course units: NoneProgramme Restrictions: There are no programme restrictions for this course providing the pre-requisites listed above are met. BMAN30131 is available to study abroad and exchange students admitted through the University of Manchester International Programmes Office.Please note, the lecture will be workshop based, as below:Thursday 2pm-4pm (Lecture & Workshop Group 1) Thursday 4pm-6pm (Lecture & Workshop Group 2) *You only need to enrol yourself onto one of these groups that fits with your individual timetable.