Mrs C Jubb. 306-301 Financial Accounting (or Departmental approval) and 316-202 Intermediate Microeconomics. Second semester Three hours per week. On completion of this subject a student should:

• have developed an understanding of the reasons for the existence of a demand for audits in our society, and the benefits derived from an audit;
• have developed an understanding of the current environment in which auditors operate, including ethical, legal and professional aspects;
• know the concepts and means used by auditors to gather evidence and make judgements in order to form an audit opinion, in both computer and non-computer environments;
• have developed an understanding of how auditors communicate with financial statement users and other interested parties;
• be familiar with contemporary research as it relates to auditing.

The rationale for auditing; auditing standards; audit objectives, concepts and procedures; audit techniques including statistical sampling and the audit of computer-based accounting systems; audit reports; contemporary auditing problems with special reference to the application of accounting and auditing principles; the legal liability of auditors; the professional responsibilities of auditors; the statutory responsibilities and rights of auditors; auditing research literature within three broad frameworks: agency theory, capital market theory and human judgement theory. A 1-hour mid-semester examination (10 per cent), one assignment not exceeding 1,500 words (10 per cent), seminar participation (10 per cent), a 3-hour end-of-semester examination (70 per cent). Satisfactory completion of this subject requires a 50 per cent pass in the end-of-semester examination. To be advised