MAN-30091 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

Programme/Approved Electives for 2025/26

Available as a Free Standing Elective

Co-requisites

None

Prerequisites

N/A

Barred Combinations

N/A

Description for 2025/26

This module draws upon knowledge, understanding and capabilities derived from study of previous business law, financial accounting and reporting modules in the accounting programmes. It develops knowledge and understanding of the roles of the external and internal auditor, the regulatory framework and the theory and practice of external and internal audit. Key techniques in conducting a financial audit will be introduced.
By the end of the module, students should appreciate the need for, and nature of, the audit process. They will also have developed a critical awareness of the roles of auditors within organisations and society.

This module will provide students with the necessary knowledge of regulatory reforms, audit procedures and the ability to undertake a financial report audit in accordance with current standards. Students will develop knowledge and understanding of the key concepts of audit and assurance, regulatory framework and professional ethics, and technical processes involved in conducting a financial audit including planning, risk assessment, testing, reviewing and reporting.

Intended Learning Outcomes

explain different types of audit and assurance and why external audits are necessary within a statutory and professional framework.: 1,2
analyse the necessary control procedures to minimise the threat of material misstatements due to either fraud or error within the financial reports of an organisation.: 1,2
explain the structure and meaning of the audit report and the nature of audit qualifications.: 1,2
evaluate the importance of internal control, including the role and responsibilities of an internal auditor.: 2
outline the ethical responsibility of a professional auditor.: 2

Study hours

Lecture 24 hours
Tutorial 24 hours
Private Study 252 (to include reading, engagement with exercises, independent research and revision)

School Rules

None

Description of Module Assessment