Module Identifier AC31710  
Module Title THE LEGAL ASPECTS OF THE AUDITOR'S ROLE  
Academic Year 2001/2002  
Co-ordinator Professor David Gwilliam  
Semester Intended for use in future years  
Next year offered N/A  
Next semester offered N/A  
Pre-Requisite AC31610  
Course delivery Lecture   20 Hours  
Assessment Course work     20%  
  Exam   2 Hours   80%  

Brief description


This is a specialist module which focuses on the legal environment within which external audit is conducted in the UK. Questions as to what constitutes the exercise of reasonable skill and care are discussed within the context of the conomic theory of efficient negligence rules. Specific legal issues relevant to auditors are also addressed, in particular the applicability of contributory negligence, the role of exclusion clauses and disclaimers, and the arguments for and against a statutory limitation on auditor liability.