This module is designed to introduce the learner to the nature of auditing and the work which the annual statutory audit requires.
Regulatory framework of auditing
Companies Acts; auditing standards; the supervision and regulation of auditing
Fundamental principles and concepts
Independence; due care; confidentiality; audit evidence.
Audit planning
Audit risk; audit planning; audit programmes; audit evidence; materiality; sampling
Performance of the audit
Auditing internal control systems (compliance tests); substantive testing; comparing test results with objectives; risk evaluation and materiality
Reporting framework
Evaluating the audit evidence; management representations; letters of weakness to management; audit opinion; audit reports
Current issues in auditing
Audit expectation gap; legal liability of auditors; regulation of auditing.
Module Content & Assessment | |
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Assessment Breakdown | % |
Formal Examination | 80 |
Other Assessment(s) | 20 |