Work Placement- Auditing (ACCT 672)

OVERVIEW

1. COURSE DESCRIPTION

To achieve the aims above, this course covers a number of tasks that are divided into two parts. The first
part is the professional orientation which focuses on gaining a clear understanding of the work environment
of the prospective employers and of the job markets in general. After this, the students will be placed at
the selected employers where they will apply their acquired knowledge, skills and attitude in a real work
environment. It is important for the students to comply with the hosting organization’s requirements, to
meet the Performance Objectives (POs) and to keep track of their training progression throughout the work
placement period.

2. REASON FOR THE COURSE

This course aims to develop practical knowledge, skills and attitude of the students and to strengthen their
positions in relevant industries. The students will apply the knowledge and theories acquired in previous
coursework in a real business setting. Through this opportunity the students can explore their interests in
the accounting field and be familiar with the working norms, rules and regulations governing the industry
as well as build a professional business network. The course emphasizes students’ preparation for their
future careers and helps them to be well-trained candidates when they graduate. At the end of the work
placement, the students will be deeply familiar with the key factors for success in an audit career.

3. STUDY HOURS

4. ROLE IN CURRICULUM

Prerequisites:
To qualify for the work placement, students must have completed the 9-hour preparation activities provided
by Career Services and Student Advising (CSSA) or employer-conducted orientation approved by CSSA.

Students are recommended to complete Advanced Audit and Assurance (ACCT 641) and Audit and Assurance
(ACCT 541) before taking this course.

SKILLS

LEARNING OUTCOMES
ASSESSMENT AND GRADING
TEACHING METHODS
STUDY PLAN
TEXTBOOKS AND REFERENCES
APPENDIX 1 - PERFORMANCE OBJECTIVES
CORE SKILLS

5. COURSE LEARNING OUTCOMES (CLO)

On successful completion of this course, students will be able to:

Knowledge	Level of Learning	Related PLO
Describe the standards and regulations Describe the requirement of the relevant national and international audit standards and regulations.	Understand	PK1
Cognitive Skills	Level of Learning	Related PLO
Design the audit program Design the audit program to meet the objectives of the audit and assurance engagement.	Create	PC2
Carry out audit procedures Carry out audit procedures to obtain sufficient appropriate audit evidence in accordance with International Standards on Auditing (ISAs).	Apply	PC2
Communication, Information Technology, and Numerical Skills	Level of Learning	Related PLO
Discuss the audit findings Discuss the audit findings with management and/or those charged with governance.	Apply	PCIT1
Interpersonal Skills and Responsibilities	Level of Learning	Related PLO
Manage a team Manage a team to work productively and ethically in a particular audit engagement.	Characterize	PIP1

6. ASSESSMENT AND GRADING

Grades will be determined based on the following assessments and score allocations:

SKILL	Assessment				Skill Weighting for Grade
SKILL	Mentor	Peer	PE Report	Presentation	Skill Weighting for Grade
Describe the standards and regulations			50%		20%
Design the audit program			50%	50%	20%
Carry out audit procedures			50%	50%	20%
Discuss the audit findings	50%	50%			20%
Manage a team	50%	50%			20%

7. TEACHING METHODS

This course is primarily an experience-based course. An orientation will be conducted at the beginning
of the course to ensure that the students will gain a clear understanding of the work environment in the
hosting organization and some basic skills for performing their work effectively during the placement. A
variety of methods will be employed to encourage and assess student achievement on course learning
outcomes. Some methods include, but are not limited to, presentation, interview and written reports,
group discussions, business writing, self-reflection, and peer consultation.

Performance Objectives

Students are required to achieve a minimum of four performance objectives in total including all three of interpersonal qualities and the core skills of performance objectives in accounting.

Students may achieve each performance objective by participating in the suggested activities or similar
other activities related to the performance objectives by providing an explanation in the practical experience report.

The performance objectives are set out in interpersonal qualities and core skills as in the appendix 1.

To provide evidence of achieving performance objectives, students are required to request a confirmation letter from their supervisor with attachment of the performance objectives that they have achieved during the job training.

Personal Experience Report

Work Arrangement: Individual

Output format : Performance Objective Matrix

Language : English

Assignment : Students will be required to produce a summarized report reflecting the experience
obtained from the job training that satisfies the required performance objectives.
As their training progresses, students should keep track of their experiences. At
the end of the training, students will be required to write a report summarizing the
experience in their own words in a performance objective matrix. The report should
be clear and truthfully reflect the experience with examples provided.

Presentation: Students are required to attend the interview by the evaluators and
answer any questions they may be asked during the interview. Rubric

8. STUDY PLAN

	Lesson Learning Outcomes	Teaching and Learning Activities, Assessment
1	Course Orientation Introduce the course aims, descriptions and criteria. Explain the performance objectives to be achieved during the job training. Explain the practical experience report Guide the students in searching for relevant information about jobs and prospective organizations.	Lecture Question and Answer
2-18	On Job training (All CLOs)	Apply knowledge

Lesson Learning Outcomes

Teaching and Learning Activities, Assessment

Course Orientation

Introduce the course aims, descriptions and criteria.
Explain the performance objectives to be achieved during the job training.
Explain the practical experience report
Guide the students in searching for relevant information about jobs and prospective organizations.

Lecture

Question and Answer

2-18

On Job training (All CLOs)

Apply knowledge

9. TEXTBOOKS AND REFERENCES

References

1. ACCA rule book https://www.accaglobal.com/gb/en/about-us/regulation/ethics/acca-rulebook.html

ACCA performance objectives

1. https://www.accaglobal.com/vn/en/student/practical-experience-per/performance-objectives.html

Interpersonal Quality

These are the important elements of interpersonal qualities that students must achieve. They are required to maintain the professional code of ethics, develop productive business relationships with stakeholders and take initiative as a leader during work.

Performance Objectives	Suggested Activities
Maintain professional code of ethics	Act diligently and honestly, following codes of conduct, taking into account and keeping up-to-date with legislation. Act with integrity, objectivity, professional competence and due care and confidentiality. You should raise concerns about non-compliance. Develop a commitment to your personal and professional knowledge and development. You should become a life-long learner and continuous improver, seeking feedback and reflecting on your contribution and skills.
Develop professional business connections	Display sensitivity, empathy and cultural awareness in all your communications. This allows you to establish trust and credibility with a range of stakeholders and gain their confidence. Use a range of mediums and make appropriate use of digital technology to communicate clearly, concisely and persuasively in formal and informal situations. Develop and build effective and ethical professional relationships and networks using face to face and digital technology.
Apply leadership and self development	Show initiative with your team – working towards organisational goals, collaborating with and supporting others. Manage time and tasks effectively to meet business needs and professional commitments. You are capable of working under pressure. You negotiate effectively and can justify solutions logically and persuasively to colleagues and clients.

Auditing

This involves students in the process of planning for the audit, assessing the level of audit risks and using the audit procedures to conduct the audit in accordance with international standards on auditing (ISA). Students will be also asked to assist in reviewing and evaluating the audit evidence to ensure it is sufficient and appropriate and assist in drafting the audit report and letter to management.

Performance objectives	Elements
Prepare and plan for an audit and assurance process	Become familiar with the scope and services to be provided. Identify the ethical threats and requirements at the start of the audit engagement. Use up-to-date auditing standards and legal and ethical frameworks. Evaluate risk in an organisation’s internal control structure and make any necessary changes to the audit programme/plan of work. Assist in designing the audit program to meet the objective of the audit engagement.
Collect and Evaluate the audit evidence	Coordinate the engagement to make sure you get results. Carry out and document compliance, substantive tests and other audit or assurance work using appropriate technology to assist the audit and assurance procedures. Evaluate evidence, demonstrate professional scepticism, investigate areas of concern and make sure documentation is complete and all significant issues are highlighted. Assess that the audit evidence is sufficient and appropriate. Assist in identifying the main factors to be considered before forming an opinion and reaching judgements.
Review and report the findings of an audit	Review the performance of an audit; making sure that the evidence is accurate, complete and sufficient. Contribute to identifying and resolving audit issues and make sure there are no outstanding queries. Discuss the findings and implications of an audit or assurance engagement with management and governance teams. Assist in drafting written representations and report significant control deficiencies to management and governance teams. Assist in preparing the audit reports in accordance with relevant standards, regulations and legislation.