Course Information Package
|Course Unit Title||AUDITING THEORY & PRACTICE II|
|Course Unit Code||ABSA411|
|Course Unit Details||BA Business Administration (DL) (Business Electives) -|
|Number of ECTS credits allocated||5|
|Learning Outcomes of the course unit||By the end of the course, the students should be able to:|
|Mode of Delivery||Face-to-face|
|Recommended optional program components||NONE|
Audit evaluation and planning: Engagement letters. Developing an audit plan. Sources of audit evidence. Establishing materiality levels, statistical sampling and size. Audit and business risk. Substantive analysis at the planning stage. Designing, documenting and re-evaluating the audit plan.
Internal Controls and Audit Testing: Internal controls, objectives, procedures and tests of control. Computer systems and internal controls.
The Income Statement Audit: Auditing the sales and purchases system. Auditing wages, cash and various other systems.
The Balance Sheet Audit-Assets: Audit procedures, controls and tests for: Inventories, Non-current assets; Receivables, Cash and other current assets.
The Balance Sheet Audit-Liabilities and Equity: Audit procedures and tests for: Current and non-current Liabilities, Share capital and reserves.
Finalising the Audit: The final review stage. Reviewing the truth and fairness of financial statements. The audit report and the potential effects of qualifications.
|Recommended and/or required reading:|
|Planned learning activities and teaching methods|
The taught part of course is delivered to the students by means of lectures. Lecture notes and presentations are available through the web for students to use in combination with the textbooks. Lectures are supplemented with class exercises carried out in class and via homework. The students will be asked to complete an assignment during the course.
|Assessment methods and criteria|
|Language of instruction||English|