Auditing and Investigations I Course Outline

Course Description The course is designed to develop knowledge and understanding the process of carrying out audit and assurance assignments.

Course Objectives To provide students with relevant knowledge and skills to approach and carry out auditing and assurance with a professional approach.

Course Content Topics to be covered: The audit evidence Process Assessing risk of material misstatement and risk components. Materiality Concept of evidence 2. The Internal control structure; Element of the internal control structure Control environment Accounting system Control procedures

Course Content Documentation of the internal control Structure Narrative Flowchart Questionnaire Evaluation of the effective of the internal control structure

Course Content 3. Planning the Engagement Client contract and acceptance General Planning – obtaining knowledge client’s industry and business. Assessing materiality Consider possibility of material misstatements Planning implementation – design audit program, timing procedures, staff requirement and budget,

Course Content 4. Analytical Procedures Nature analyst Ratio analysis Reasonableness tests 5. Substantive Audit Procedures: The Revenue Cycles Audit cash balance Audit trade debtors/accounts receivable Audit of sales - overview

Course Contents Audit of purchases – overview 6. Substantive Audit Procedure: The Expenditure Audit of purchases – overview Audit of accounts payable/trade creditors Audit of Accruals

Teaching & Training Activities 4 Hour Lectures per week; Tutorials at the end of teaching Your encouraged to read auditing, accounting and business journals and publications.

Student Support Timetable Tuesday - 1600 - 1800hrs Thursday - 1600 - 1800hrs

Human and Physical Resources Students will be allowed to make power point presentation of assignment. Equipment from the department will be provided. Lecturer will provide addition skills guidance for presentations and resources.

Method of Evaluation Individual class tests Group Research based assignments Individual Research based assignment 3 hour examination at the end of the semester

Course Output Appreciation of auditing and assurance Background knowledge to assurance, professional ethics, governance issues Understanding of audit processes and selected standards

Reading Auditing: by Guy, Alderman and Winter The principles and practice of auditing: by Taylor and Kritzinger. Auditing Today: Emile Woolf A student manual of auditing: Coopers and Lybrand Auditing: Santocki International Standards In Auditing: IFAC

Revised Course Outline Audit Framework and regulation Audit and assurance engagement Statutory audits and regulation Corporate governance Professional ethics Internal audits

Semester Course Outline 2. Audit Planning and Risk assessment Risk assessment Auditing planning and Documentation Introduction to audit evidence

Semester Course Outline 3. Internal Control Internal control Test of control

Thank for your attention End Thank for your attention