Download Lecture Syllabus Financial Assurance and

SCHOOL OF SOCIAL SCIENCES
ACCOUNTING & FINANCE
MODULE OUTLINE: AB40016 (4FA) – FINANCIAL ASSURANCE AND INTERNATIONAL REPORTING
Session 2015/2016
Optional for:
BAcc Honours
SCOTCAT Value:
SCQF Level 10 (SHE Level 4, Honours degrees)
Module Organiser:
Dr Theresa Dunne
Telephone 385174, email: [email protected]
Module Lecturers:
Semester 1: Dr Louise Crawford
Room 1.21, telephone 386803, email: [email protected]
Semester 2: Dr Theresa Dunne
Module Tutors:
Dr Theresa Dunne, Dr Louise Crawford
Aims:
This is a senior honours module. Together with Introductory Financial Accounting, Intermediate Financial Accounting,
Advanced Financial Accounting 1 and Auditing, the module is designed to provide comprehensive coverage of the
theoretical and practical aspects underpinning the preparation of published financial statements. It also examines
current issues associated with the assurance of financial statements issued by both public and private sector firms. It
aims to develop a deeper understanding of accounting and auditing by considering issues in an international context
and seeks to foster a thorough understanding of contemporary assurance and financial reporting concerns by
considering current topics.
Learning Objectives
By the end of the module the student should be able to:
(a) Achieve a knowledge and understanding of:
(1) The application of extant domestic and international accounting standards, including
disclosure requirements where appropriate (SSAPs, FRSs, IASs & IFRSs); appraisal of selected ISAs
(2) The processes which shape financial reporting practices in the UK and internationally
(3) The main factors which influence accounting rules and practices
(4) The major accounting principles and practices in selected EU countries and the US
(5) The role of the accounting profession, the International Accounting Standards
Committee, the European Community, the Organisation for Economic Co-operation and
Development, Governments and Stock Exchanges in the harmonisation of accounting
practices
(6) The significance and (actual and potential) consequences of external accounting
(7) Ethics, public trust and the role of audit
(8) The audit expectations gap
(9) The nature of the audit in public sector organisations
(10) The role of education, training and development for the audit practitioner
(11) Audit reporting: the determinants and impact of the audit opinion, and ‘a true and fair view’
(b) Achieve the intellectual skills to:
(1) The preparation and application of accounting entries for selected contemporary topics
(2) Comment critically on exposure drafts of accounting and auditing standards
(3) Critically evaluate the extant academic literature for selected topics
(4) Critically evaluate research in international accounting and auditing
(5) Rationalise or theorise the alternative accounting treatments available in particular areas
(6) Synthesise information about international accounting problems
(7) Critically appreciate the political nature of accounting and auditing
(8) Critically evaluate the international dimensions of current financial accounting and auditing
practice
(9) Appreciate the ethical issues which can arise within the practice of auditing
(c) Achieve the practical skills to:
(1) Be competent in preparing accounting entries for selected problem areas
(2) Comment critically on accounting policies and policy proposals
(3) Engage in critical comparisons of accounting practices and procedures
(4) Comment critically on current issues within the auditing area
(5) Identify international dimensions in debates over accounting and auditing
(d) Achieve a transferable skill to:
(1) Link the roles of accounting/auditing research and practice
(2) Discuss opinions and be able to rationalise those based on theoretical arguments
(3) Make use of library and IT resources
(4) Develop effective and efficient study techniques
(5) Communicate orally and in writing in a clear and concise manner
(6) Act as team leaders and team members
Reading:
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


References to various reading material will be provided as the module progresses, reflecting the dynamic and
contemporary nature of this module. Handouts will also be distributed where appropriate.
Students are reminded that the textbook purchased for 2FA/3FA as well as Gray & Manson (purchased for 3AU)
provide a good overview of some of the topics to be covered in 4FA. Other similar textbooks, for example
Alexander, D., Britton, A. & Jorissen, A., (2007) International Financial Reporting and Analysis, (fourth edition)
(ABJ), is also available in the library and provides a useful alternative. Multiple copies of International GAAP (if
not already purchased) are also available in the library for consultation.
Roberts, C. Weetman, P. and Gordon P., (2008) International Corporate Reporting: A Comparative Approach
(fourth edition) (RWG) is a useful reference for particular lectures in Semester 2; again multiple copies of this
book are available in the library.
A reading list will be provided for both semesters.
Lecture Syllabus
Financial Assurance and International Reporting
Semester 1
Week 1
Lecture Topic
Global audit regulation and governance,
Part 1
Week 2
Global audit regulation and governance,
Part 2
Week 3
Education, training and development of
professional auditors
Week 4
Compliance with, and legitimacy of, IESs
for professional education
Week 5
Directed Reading
Week 6
Week 7
Reading week
Audit and accountability in the 3rd sector
Week 8
Audit and accountability in the 3rd sector
Week 9
Audit, public trust and ethics
Week 10
Critique of contemporary audit: structure
and practice
Week 11
Contemporary issues and revision
Reading
See
Reading
List
See
Reading
List
See
Reading
List
See
Reading
List
See
Reading
List
Tutorial**
No Tutorial
See
Reading
List
See
Reading
List
See
Reading
List
See
Reading
List
See
Reading
List
Accountability in the
3rd sector
Audit function and
globalisation
Practitioner education
and generic skills
Understanding the
dimensions of
legitimacy
Directed reading and
timed essay
Charity audit and
accountability
Case study: ethical
issues faced by an
auditor
Exploring EU
developments for the
audit profession
Revision
ALO
a7, a8, a9,
a10, a11, b7,
b9, c5
a7, a8, a11,
b3, b4, b7,
b9, c4, c5
a7, a10, b3,
b4, b7, b9,
c4, c5
a7, a8, a11,
b3, b4, b7,
b9, c4, c5
a7, a8, b3,
b4, b7, b9,
c4, c5
a7, a8, b3,
b4, b7, b9,
c4, c5
a7, a8, b3,
b4, b7, b9,
c4, c5
a7, b3, b4,
b7, b9, c4,
c5
b3, b4
Semester 2
Week 1
Lecture Topic
The Context of International Accounting
Week 2
Classification Systems in
International Accounting
Week 3
Accounting Harmonisation 1
Week 4
Accounting Harmonisation 2
Week 5
International Financial Reporting:
Transparency and Disclosure
Week 6
Week 7
Derivatives Accounting and Reporting
Week 8
Pensions Accounting and Reporting
Weeks 9
Internet Reporting and XBRL
Week 10
Charity Reporting and Accountability
Reading
Tutorial**
See
No tutorial
Reading
List
See
Discussion
Reading
List
See
Comparative
Reading
Accounting Systems
List
See
Harmonisation
Reading
Measurement
List
See
Harmonisation
Reading
Measurement
List
READING WEEK
See
Derivatives
Reading
Accounting &
List
Reporting
See
Pensions
Reading
Accounting &
List
Reporting
See
Internet
Reading
Reporting &
List
XBRL
See
Charity
Reading
Reporting &
List
Accountability
ALO
a1,a2,a3,
b3,b4,c2
a1,a2,a3,a4
b3,b4,b6,c2
a1,a2,a5,
b3,b4,b6,c2
a1,a2,a5,
b3,b4,b6,c2
a1,a3,a4,a5
b3,b4,b6,c2
a1,a5,
b1,b2,b3,b5,
c1,c2
a1,a5,
b1,b2,b3,b5,
c1,c2
a1,a5,
b1,b2,b3,b5,
c2
a6,
b1,b2,b3,b5
c1,c2
**The tutorial examples and the coursework will be used to develop the transferable skills identified in the learning
objectives (d) 1-4.
Attendance:
In order that students benefit from the investment that they are making in their studies, we promote good attendance
on our programmes. Good attendance leads to a more rewarding and interesting experience for students and is,
of course, clearly correlated with exam success. In addition a good attendance record encourages, and is a sign
of, professionalism which employers may ask about when seeking a reference. We expect students to attend all
lectures and participation in tutorials, workshops, labs and meetings with their advisers. A record of attendance
will be kept through a register of attendance which will be taken at tutorials/workshops and labs.
Assessment:
The degree exam will count for 80% of the final mark and coursework will represent 20%. The coursework will be
submitted in the first semester at the end of week 10.
The new scale for ALL students (from Sep.15 onwards) is as follows:
Marking Scale
Associated
Aggregation Scale
Descriptor
Honours Class
(where appropriate)
A1
A2
A3
A4
A5
B1
B2
B3
C1
C2
C3
D1
D2
D3
MF1
MF2
MF3
CF
23
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
5
Excellent
1st
Very Good
2(i)
Good
2(ii)
Sufficient
3rd
BF
2
Bad Fail
Marginal Fail
Clear Fail
Feedback on Assessment:
Feedback will be given throughout tutorials. In addition students will have the opportunity to submit an
essay during semester 1 for formative feedback. The assessed coursework will also provide
students with formative feedback on their progression.
Degree Examinations
The degree exam is compulsory and lasts for 3 hours. The degree exam content will be drawn from all of
the material included in the above lecture syllabus.
Use of Calculators and Dictionaries in Examinations
Following the policy of standardising examination conditions, only approved types of calculator (and specifically those
which cannot be used to store text) may be used in examinations. Approved calculators are: CASIO Scientific Models
– FX-83, FX-85 OR FX115 range.
The policy is to disallow the use of dictionaries in examinations.
Inclusive Curriculum
All staff are committed to providing an inclusive curriculum for all students, including access to a full teaching and
learning programme for disabled students. The School liaises with the University's Equality and Diversity Officer and
the Head of Disability Services to determine the most appropriate way to achieve this and ensure that no group or
individual is disadvantaged by the learning environment. School and Programme Disability Support Officers (Dr
Theresa Dunne [email protected]) support this process and ensure that specific adjustments are arranged
to meet individual disabled students' needs. Further details of the University's provision for disabled students are
available at: http://www.dundee.ac.uk/disabilityservices.
.