Financial Audit (6 Credits)

Learning Outcomes:

Explain audit environment on which auditors apply their professional audit; Explain audit process and audit program according to auditing standard; Explain how internal control apply and importance of internal control understanding in company; professional ethics and accountant legal liability; Prepare audit planning for financial statement audit; Prepare audit program and audit working paper for supporting document to formulate proper audit opinion

Topics:

1. Auditing and the Public Accounting Profession-Integrity of Financial reporting
2. Auditors‘ Responsibilities and Report
3. Professional Ethics  and Auditor’s Legal Liability
4. Overview of the Financial Statement Audit, Audit Evidence
5. Accepting the Engagement and Planning the Audit, Materiality Decisions and Performing Analytical Procedures, Audit Risk and Audit Procedures in Response to Assessed Risk
6. Test of Control, Audit Procedures in Response to Assessed Risk: Substantive Test, Audit Sampling
7. Review Audit Testing and Audit Sampling
8. Auditing Revenue cycle and Expenditure cycle
9. Auditing the Production and Personnel Service Cycles
10. Auditing the Investing, Financing, Investments and Cash balance
11. Investments and Cash Balance
12. Completing the Audit, Post Audit Responsibilities Attest and Assurance Service and Related Reports; Internal, Operational and Governmental Auditing