BUU44670 Audit and Assurance

(5 ECTS) 

Lecturer:

Cormac Kavanagh

Email: kavanc12@tcd.ie

Office: Online by appointment (use email to arrange appointments) 

Pre-Requisite(s): 

BUU22530 - Introduction to Accounting
BUU33531 - Financial Accounting I 
BUU33532 - Financial Accounting II     

Available to Exchange students 

Module Description

Analysis of modern auditing theory and practice, focusing on the application of key auditing procedures and enabling students to appreciate the function, role and reporting requirements of an auditor in providing assurance to users of financial statements.

Learning and Teaching Approach

Lectures that explain theoretical facts along with the use of International Standards of Auditing. Case studies will be used extensively to illustrate the application of theory.

Learning Outcomes

On successful completion of this module, students should:

• Have an understanding of the audit function and be able to illustrate specific knowledge of key international auditing standards, as used in auditing practice worldwide.
• Demonstrate comprehension of the role, responsibility and duty of the auditor as well as the purpose, benefits and limitations of auditing.
• Assess the importance of ethics in auditing and the independence of the auditor.
• Outline the main steps in the audit process, understand the key pre-audit and planning activites.
• Evaluate and assess audit risk and its constituent components.
• Evaluate control procedures in an internal control system and understand substantive audit procedures performed across key business processes.
• Understand principles underpinning Audit Reporting.

Workload

Textbook and Readings

Required core course textbook: All required material will be uploaded to Blackboard.

General Supplemental Readings: Additional technical auditing articles will also be uploaded to Blackboard.

Supplementary resources  

Nangle, C.,External Auditing and Assurance: An Irish Textbook, 4th Edition

(2022), Chartered Accountants Ireland.

ACCA Paper, Audit and Assurance (AA), Workbook, (2024), BPP

Students are expected to have read the relevant lecture notes (provided on Blackboard) before each class. 

Assessment

• End of Semester One Examination (70%) will be 2 hours in duration
• The (30%) assignment will be posted on Blackboard and done at home by students.

Reassessment will be 100% exam in the Reassessment period.

Biographical Note

Cormac Kavanagh FCCA, MSc Finance, CPA is Education Lead with CPA Ireland, and is also Adjunct Faculty for Trinity's Postgraduate Diploma in Accounting. After spending a combined 13 years in Audit Practice and Industry Cormac commenced the pursuit of a full-time academic career in 1995 and continues his active academic engagement. Focused on teaching and lecturing to business students at undergraduate, postgraduate and professional levels Cormac’s teaching experience has been gained in Irish, Chinese and South-East Asian academic institutions. Cormac’s professional accountancy students have secured numerous national and global awards for academic excellence.