Surrey University Stag


Module code: MANM398

Module Overview

The module provides a structured approach to the conceptual and practical principles of auditing and other assurance engagements.  It provides a real world perspective on current practices with coverage of current developments and techniques.

Module provider

Surrey Business School

Module Leader


Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

JACs code: N421

Module cap (Maximum number of students): N/A

Overall student workload

Independent Learning Hours: 110

Lecture Hours: 10

Tutorial Hours: 10

Guided Learning: 10

Captured Content: 10

Module Availability

Semester 1

Prerequisites / Co-requisites

MANM198 Principals of Accounting

Module content

Indicative content includes:

Auditing overview: The audit market and the role of auditor

Ethics, independence and legal liability of auditors

Client acceptance

Audit Planning and risk assessment- understanding the entity and its environment including audit documentation

Concepts of audit risk and audit materiality

Internal control – the use of internal control systems by auditors, transaction cycles, tests of control, the evaluation of internal control components, communication on internal control

Substantive testing and analytical procedures

Audit evidence – the use of assertions by the auditor, audit procedures, the audit of specific risk items, audit sampling and other testing, computer assisted audit techniques

Audit opinion and reporting

Review – subsequent events, going concern, written representations, audit finalisation and the final review


Internal audit- the differences between the external auditor and the internal audit function, the scope of the internal audit function, outsourcing the internal audit department, internal audit assignments

Assessment pattern

Assessment type Unit of assessment Weighting
Online Scheduled Summative Class Test ONLINE CLASS TEST (60 mins in 4 hour window) 30
Examination Online ONLINE OPEN-BOOK EXAM (2 hours in 4 hour window) 70

Alternative Assessment


Assessment Strategy

The assessment strategy:

The module has 2 summative assessments: a class test and an end of semester examination.

Class Test: The class test will comprise of questions requiring short written answers.

Examination: The exam paper will make use of case scenarios relating to a number of requirements, i.e., questions may contain several parts (part (a), part (b), part (c), etc…).

Formative assessment and feedback:

Formative assessments, e.g. sample class tests and exam papers, will be made available to support students prepare for their summative assessments and to provide ongoing feedback. Such feedback will help students identify their strengths, weaknesses, and areas where additional work and effort is required on their part. This will then allow students to design their personalised revision plans so that they can be fully prepared for the summative assessments.

Students are also expected to engage with other feedback provided to them via various other means, e.g. during the seminars and consultation hours throughout the semester.

Module aims

  • To introduce students to the major issues in auditing theory and practice
  • To explain and analyse the nature of statutory audit and the key stages in the audit process
  • To illustrate audit concepts with real-life cases

Learning outcomes

Attributes Developed
001 To explain and analyse the nature of statutory audit and the key stages in the audit process KCPT
002 To apply theoretical audit concepts and use their understanding and insight gained throughout the module to interpret case study scenarios and review real life case studies KCPT
003 To apply the professional standards, including the nature, role and development of a profession and professional bodies, professional duties and ethics, professional independence, professional negligence and legal liability KCPT
004 To follow and complete the main stages of the typical audit process and developments in audit methodologies KCPT
005 To differentiate between external and internal auditing KCPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Methods of Teaching / Learning

The learning and teaching strategy:

The teaching and learning strategy is based on a hybrid teaching model, incorporating elements of both live and on-demand learning.

On-demand learning is designed for students to explore the topic(s) in their own time, and it includes a range of guided learning activities. These include pre-recorded videos, practice questions and solutions  and links to further reading and videos on the topic (s) for the week.

Live learning will allow all students to explore and engage in discussions on the topic(s), practice more complex questions and receive answers and feedback to queries they may have from the tutor.

This learning and teaching strategy will provide students the opportunity to acquire knowledge and to understand the relevant theory and practices and problems facing auditors. 

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list
Upon accessing the reading list, please search for the module using the module code: MANM398

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Accounting and Finance MSc 1 Compulsory A weighted aggregate mark of 50% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2022/3 academic year.