Auditing Theory and Practice

Qualification: Undergraduate unit
Study mode: Online
Payment options: HECS-HELP may be available
FEE-HELP may be available
Duration: 13 weeks
Start date: Enquire now for upcoming start dates
Awarded by: University of South Australia
Course Unit A course unit is a single subject offered as part of a program of study, but can be completed individually. You may receive Recognition of Prior Learning for studying this unit.

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About this unit

This online Auditing Theory and Practice unit is aimed at accountants and business professionals looking to expand their skillset, and introduces students to the critical processes that make up a successful audit.

Offered by Open Universities Australia in partnership with the University of South Australia, the unit provides a comprehensive overview of the structures and requirements of auditing, and trains students to walk away with the skills to conduct their own audits.

The unit firstly addresses the nature and purpose of an audit as well as the standards and ethics of auditing practices. Students then move on to the practical skills involved in carrying out an audit through subjects such as planning, risk and materiality, audit programs, sampling and evidence, as well as auditing transaction cycles.

The unit also covers the legal liability of audits, and trains students to be aware of the unethical practices to avoid as an auditor.

Eligibility

To be eligible to enrol you must have completed, or be enrolled to start the following units:

Areas of study

In this accounting unit, the topics you will study include:

  • Demand for audit and assurance services
  • The profession and professional ethics
  • Audit planning and fraud
  • Materiality and audit risk
  • Internal control
  • Preparing the audit program
  • Audit sampling
  • Sales and collection cycle
  • Acquisition and payment cycle
  • Verification of assets and liabilities
  • Completing the audit
  • Legal liability of auditors

Course pathways

This unit is a core requirement in the following course:

Content may also be relevant to other courses, and could qualify you for Recognition of Prior Learning (RPL) for a course offered by another institution.

Get more information

Want more information about this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

OUA has done away with traditional semesters to give you the flexibility you need. Find out more.

How will this unit advance my career?

This unit will expand your skillset as an accountant or business professional and is a smart way to advance your career prospects.

You’ll walk away from this unit with the ability to:

  • Understand the nature and function of auditing, and appreciate the concept of true and fair connections with regards to financial statements and audit reports
  • Understand what your duties, responsibilities and liabilities are as an auditor
  • Identify the fundamentals of audit planning, audit risk and materiality
  • Employ a range of methodologies and strategies to review, document and evaluate internal controls in accounting systems
  • Compile an audit report and and an audit engagement as a means to make professional recommendations to businesses

How else will I benefit from this unit?

  • Upon successful completion of this unit you will receive credit for competencies in Auditing Theory and Practice from the University of South Australia.
  • Studying online means you can study where you want, at your own pace.
  • Gain industry-relevant skills and transferrable knowledge.
  • Government financial support through FEE-HELP or HECS-HELP is available.
  • Studying single units allows you the flexibility to work towards a qualification at your own pace.
  • Receive Recognition of Prior Learning (RPL) for this unit across a number of OUA’s full degree programs.

Get more information

Want more information about the career benefits of this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

Financial assistance

If you are an Australian citizen you may be eligible to receive HECS-HELP or FEE-HELP for this unit, meaning you can defer payment of your fees.

Get more information

Want more information about financial and student support? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

You may be eligible to receive HECS-HELP or FEE-HELP for this course!

This course can be paid for through the HECS-HELP or FEE-HELP government loan schemes. If you are an Australian citizen or hold a permanent humanitarian visa, this means you don’t need to pay upfront.

Instead, the Australian government will pay your course fees on your behalf. You’ll begin repaying your loan through the tax system once you start earning more than the minimum threshold of $54,869 (2016-17 income year).

Find out more about government study loans here.
For two decades, Open Universities Australia (OUA) has partnered with leading Australian educators to make tertiary-level courses easier to access for people, no matter their background, their work status or their other life commitments. OUA has built up their reputation by making education more flexible, easier to tailor and available almost entirely online.

OUA's devotion to online education remains to this day, but where they once focused on higher education, today they offer the broadest set of post-secondary education and training programs in Australia.
Open Universities Australia offers a range of administrative and student support options. As a student of OUA you will have access to four hours of free expert tutoring support for each unit undertaken through the tutoring service SMARTHINKING. This on-demand service allows you to get fast, detailed feedback on your assignment drafts and gives you access to your tutor in real time.

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Get more information

Want more information about the career benefits of this course?
Fill out the enquiry form to the right and a study consultant will contact you with the details you need.

FREE CALL 1800 063 523

Monday to Friday: 8am - late
Saturday and Sunday: 9am - 5pm

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