On successful completion of this course, student will be able to: Define the objective and role of external auditing for reliable financial and internal control information; Demonstrate technique and procedure used by auditor in audit process; Explain professional auditing standards and the audit opinion; Manage audit evidence and risk assessment; Identify and respond to the risk of material misstatement; Operate generalized audit software and use of IT in auditing.
- Auditing: Integral to the Economy;
- The Auditor’s Responsibilities Regarding Fraud and Mechanisms to Address Fraud: Regulation and Corporate Governance;
- Internal Control Over Financial Reporting: Responsibilities of Management and the External Auditors;
- Professional Liability, Auditor Judgment Framework, and Professional Responsibilities;
- Professional Auditing Standards and the Audit Opinion Formulation Process;
- A Framework for Audit Evidence;
- Planning the Audit: Identifying and Responding to the Risk of Material Misstatement;
- Specialized Audit Tools: Sampling and Generalized Audit Software.
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