Auditing I

Learning Outcomes

Upon successful completion of this course, students are expected to be able to Describe the nature and objective of auditing and other assurance services, Explain specific types of audit reports and opinions, Explain accountant’s legal liability and professional ethics, Explain the importance of internal controls, Describe the importance of audit planning process

Topics

The course teaches students about audit planning – the concepts of materiality and audit risk, the evaluation and testing of internal control systems, substantive audit testing of transactions and balances, and also audit sampling theory and methods. Students are also expected to be able to perform the finalization of the audit and audit reporting.

Prerequisite: AC223 – Introduction to Accounting 1