This module is designed to introduce the learner to the nature of auditing and the work which the annual statutory audit entails.
Regulatory framework of auditing
Companies Acts, auditing standards, 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 and 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 | |
|---|---|
| Assessment Breakdown | % |
| Other Assessment(s) | 20 |
| Formal Examination | 80 |