AC5070 - Auditing (2026/27)
| Module specification | Module approved to run in 2026/27, but may be subject to modification | ||||||||
| Module title | Auditing | ||||||||
| Module level | Intermediate (05) | ||||||||
| Credit rating for module | 15 | ||||||||
| School | Guildhall School of Business and Law | ||||||||
| Total study hours | 150 | ||||||||
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| Assessment components |
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| Running in 2026/27(Please note that module timeslots are subject to change) | No instances running in the year |
Module summary
The overall aim of the module is to enable students to understand and think critically about the role of auditing in society.
You will understand the theoretical and practical issues of auditing, including the audit process and applicable techniques.
You will be exposed to numerous case studies that help to illustrate and apply concepts.
You will be introduced to the wider literature and contemporary debates.
You will understand and critically evaluate the impact of AI on Auditing.
Relevant accounting software and external resource persons will be utilised on the module to enhance students’ employability.
Transferrable Skills
• Critical thinking
• Technical auditing skills
• Analytical writing skills
• Evaluation and interpretation skills
• Legal and Regulatory knowledge
Syllabus
1. Audit framework and regulation (LO1)
2. Audit planning; audit risk and risk-based audit (LO2)
3. Audit Evidence (LO2)
4. Internal control - procedures and testing, and application to specific business processes, including revenue, purchasing and payroll (LO3)
5. Current issues in auditing (LO4)
Balance of independent study and scheduled teaching activity
Scheduled teaching activity is a weekly 2-hour lecture and 1 hour seminar. Independent study is supported by additional practice questions, case studies, past exam questions and current articles and video clips from online accountancy and audit journals, ft.com, FRC and professional accountancy bodies and the websites of the professional accountancy and audit firms.
Learning outcomes
On completion of this module, students should be able to:-
1. understand the regulatory and ethical framework, and the nature and purpose of auditing (LO1)
2. apply auditing techniques (LO2)
3. review and evaluate systems of internal control (LO3)
4. effectively engage in contemporary debates and critiques of auditing (LO4)
Bibliography
Textbooks:
Core Text:
Auditing and Assurance Services
Eilifsen A., Messier W., Glover S. and Prawitt D. (2014) 3rd International Edition, McGraw Hill
Other Recommended Texts:
Auditing and Assurance Services, Global Edition
Elder R.J., Beasley M.S., Hogan C.., and Arens A.A. (2017) 16th edition, Pearson Education
E-BOOK
https://ebookcentral.proquest.com/lib/londonmet/detail.action?docID=5185606
Auditing
Millichamp A. and Taylor J. (2018), 11th edition, Cengage
E. BOOK AVAILABLE
The Audit Process – Principles, Practice and Cases
Gray S., Manson S. and Crawford L. (2015), 6th edition, Cengage
Modern Auditing
Cosserat G. and Rodda N. (2017), 4th edition, Blackwell’s
Principles of External Auditing
Porter B., Simon J. and Hatherly D. (2014) 4th edition Wiley
Websites:
Financial Reporting Council www.frc.org.uk
ICAEW www.icaew.com
ACCA www.accaglobal.com
ICAEW online journal www.accountancymagazine.com
Accountancy Age www.accountanyage.com
Financial Times www.ft.com
Electronic Databases: FAME