The University of Southampton

MANG3015 Auditing

Module Overview

The module will focus on the role of the external auditor, the procedures adopted and some of the current issues facing the profession.

Aims and Objectives

Module Aims

This module will build on the knowledge you have gained in MANG2003.

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

  • key elements in the auditing process;
  • the regulatory environment for auditing;
  • the auditing concepts which underpin practice;
  • fundamental principles and issues involved in providing an opinion on financial statements.
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • communicate ideas and arguments fluently and effectively in a variety of written forms;
  • communicate ideas and arguments orally and through formal presentations;
  • work effectively in groups and recognise problems associated with team working.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • explain the reasons why the function of auditing exists and critically evaluate how its role has changed through time;
  • critically evaluate the strengths and weaknesses of different auditing processes and techniques;
  • discuss the nature and extent of the auditors’ responsibilities to users of the financial statements and critically evaluate the arguments for and against limiting auditor liability.


Auditing concepts; auditors’ role in society; standards and responsibilities of auditors (including legal liability); regulation of auditing; audit evidence, Risk based approach; audit testing; completion of an audit; audit reports; current issues in auditing.

Learning and Teaching

Teaching and learning methods

There will be two lectures and one class per week. The lectures will introduce you to material. Classes will provide a forum in which some of the key issues can be explored in depth and concepts applied to different situations. Group presentations will take place throughout the module to re-enforce the material that has been covered in the lecture periods.

Follow-up work30
Wider reading or practice33
Preparation for scheduled sessions20
Completion of assessment task3
Total study time150

Resources & Reading list

Millichamp, A. & Taylor, J (2012). Auditing. 



Set exercises - non-exam


MethodPercentage contribution
Combined assessment methods 15%
Examination  (2 hours) 85%


MethodPercentage contribution
Examination  (2 hours) 100%


MethodPercentage contribution
Examination  (2 hours) 100%

Linked modules


To study this module, you will need to have studied the following module(s):

MANG2066Principles of Audit and Taxation
MANG2003Financial Accounting 2
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