Auditing and Assurance Services Course at Zhejiang University, Study notes of Auditing

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ACCT

Auditing and Assurance Services

ACCT

Auditing and Assurance Services

Instructor Contact Details Lecturer-in-charge: TBA Email: wlwyxy_29@zju.edu.cn Office location: Huajiachi Campus, Zhejiang University Consultation Time: to be announced, and by appointment Teaching Times, Modes and Locations The Time: TBA Modes: Online/Face-to-face Location: Anywhere via online/Huajiachi Campus, Zhejiang University via face-to-face Academic Level Undergraduate Units of Credit The course is worth 6 units of credit Credit Hours The number of credit hours of this course equals to the credits of a standard semester- long Australian university course. Contact Hours The course contains a total of 53 contact hours, which consists of orientation, lectures, seminars, quiz, discussion, research, case study, small tests, assignments, on-site field trip(s), in-class and after-class activities, revision and final exam. Students will receive an official transcript which is issued by Zhejiang University when completing this course.

・Examine the auditor's role in corporate governance with particular emphasis on the detection and reporting of fraud or error. ・Provide solutions to practical scenarios through correctly identifying and applying the professional, legal and ethical standards of auditing and assurance services to scenarios presented. ・Determine the extent and length of audits and formulate audit opinions based on professional judgment. Course Delivery:

• Online Lecture mode includes lectures, seminars, quiz, discussion, research, case study, small tests, assignments, online field trip(s), in-class activities, revision and final exam.
• Face-to-face Lecture mode includes lectures, seminars, quiz, discussion, research, case study, small tests, assignments, on-site field trip(s), in-class and after-class activities, revision and final exam. The following course will be taught in English. There will also be guest speakers and optional field trips available for students who would like to enhance their learning experience. All courses and others sessions will be run during weekdays. Topics and Course Schedule: Topic Activities Orientation Introduction: Basic Concepts in auditing and assurance service. The differences of auditing regulations between China and Australia. Lecture; Tutorial

Ethics Ethical issues in auditing and understanding the threats to independence Lecture; Tutorial The audit process Planning the process Obtaining reliable evidence Lecture; Tutorial Materiality and risk assessment Materiality levels, performance and qualitative factors Assessing inherent risk and business risk Lecture; Tutorial Internal control and control risk Understanding internal control process of an entity Lecture; Tutorial Seminar Inherent risk and business risk Identify inherent risk and analyse business risk with relevant management models Lecture; Tutorial Response to assessed risk-Test of controls Test of controls for major activities Lecture; Tutorial Seminar Substantive test-Test of details Test of transactions and balances Lecture; Tutorial Case study seminar Students will be divided into groups to discuss case scenarios given. Lecture; Tutorial Audit sampling Gathering audit evidence, determining sample size and selecting the samples Lecture; Tutorial Completing the audit (^) Lecture; Tutorial

Work is well-written and stylistically strong All criteria addressed strongly Credit 65- 74 Treatment of material displays a good understanding of ideas Work is well-written and stylistically sound, with a minimum of syntactical errors All criteria addressed clearly Pass 50- 64 Treatment of material indicates a satisfactory understanding of ideas Work is adequately written, with some syntactical errors Most criteria addressed adequately Fail 0- 49 Treatment of ideas indicates an inadequate understanding of ideas Written style inappropriate to task; major problems with expression Most criteria not clearly or adequately addressed Academic Integrity Students are expected to uphold the university’s academic honesty principles which are an integral part of the university's core values and principles. If a student fails to observe the acceptable standards of academic honesty, they could attract penalties and even disqualification from the course in more serious circumstances. Students are responsible for knowing and observing accepted principles of research, writing and any other task which they are required to complete. Academic dishonesty or cheating includes acts of plagiarism, misrepresentation, fabrication, failure to reference materials used properly and forgery. These may include, but are not limited to: claiming the work of others as your own, deliberately applying false and inaccurate information, copying the work of others in part or whole, allowing others in the course to copy your work in part or whole, failing to appropriately acknowledge the work of other scholars/authors through acceptable referencing standards, purchasing papers or writing papers for other students and submitting the same paper twice for the same subject. This Academic Integrity policy applies to all students of the Zhejiang University in all programmes of study, including non-graduating students. It is to reinforce the University’s

commitment to maintain integrity and honesty in all academic activities of the University community. Policy

• The foundation of good academic work is honesty. Maintaining academic integrity upholds the standards of the University.
• The responsibility for maintaining integrity in all the activities of the academic community lies with the students as well as the faculty and the University. Everyone in this community must work together to ensure that the values of truth, trust and justice are upheld.
• Academic dishonesty affects the University’s reputation and devalues the degrees offered.
• The University will impose serious penalties on students who are found to have violated this Policy. The following penalties may be imposed: - Expulsion; - Suspension; - Zero mark/fail grade; - Marking down; - Re-doing/re-submitting of assignments or reports; and - Verbal or written warning.