AUDITING AND ASSURANCE SERVICES

Course Description

The aim of this course is to provide students with knowledge of basic auditing concepts, and teach them the requirements of an audit and assurance system. International auditing standards and the audit procedures will also be analyzed. This course will also provide the detailed knowledge regarding the audit cycle needed to perform a basic accounting audit. On successful completion of this course, all students will have developed knowledge and understanding of: An Introduction to assurance and financial statement auditing, The financial statement auditing environment, Audit planning, types of audit tests and materiality, Risk assessment, Evidence and documentation, Internal control in a financial statement audit, Auditing internal control over financial reporting and Audit sampling e.t.c..

AUDITING AND ASSURANCE SERVICES

Evaluation Tools (Active Term)

No evaluation items have been defined.

Course outcomes

1. 01 Demonstrate an understanding of fundamental audit and assurance concepts
2. 02 Apply a range of auditing procedures.
3. 03 Apply internationally accepted and approved auditing standards
4. 04 Demonstrate an understanding of the legal and procedural context in which auditing occurs
5. 05 Demonstrate an understanding of the importance of professional ethics and apply the profession's code of ethics
6. 06 Undertake research on significant auditing and assurance issues
7. 07 Apply critical thinking skills and solve auditing problems through the use of case studies
8. 08 Understand how to stay abreast of developments in auditing theory and practice
9. 09 Demonstrate an understanding of the role of audits in society
10. 10 Work in a collegiate manner.

Course Syllabus

Reference Books & Course Materials

1. 01 Whittington and Panny, Principles of Auditing & Other Assurance Services, 20th Edition, McGraw Hill
2. 02 Eilifsen, Messier, Glover, and Prawitt, Auditing & Assurance Services, 3rd International Edition, McGraw Hill

Learning Outcomes

1. L01 Demonstrate an understanding of fundamental audit and assurance concepts
2. L02 Apply a range of auditing procedures.
3. L03 Apply internationally accepted and approved auditing standards
4. L04 Demonstrate an understanding of the legal and procedural context in which auditing occurs
5. L05 Demonstrate an understanding of the importance of professional ethics and apply the profession's code of ethics
6. L06 Undertake research on significant auditing and assurance issues
7. L07 Apply critical thinking skills and solve auditing problems through the use of case studies
8. L08 Understand how to stay abreast of developments in auditing theory and practice
9. L09 Demonstrate an understanding of the role of audits in society
10. L10 Work in a collegiate manner.

Program Outcomes

1. P01 PO1 Been able to demonstrate their learned skills and knowledge regarding business related issues and research which they can use continuously in their personal and business life.
2. P02 PO2 Obtained theoretical and practical information from the courses that allowed students to learn and work independently.
3. P03 PO3 Been ensured that they learnt by increasing their level of knowledge and skills which are necessary in their field.
4. P04 PO4 Increased their creativity and analytical thinking and developed crucial skills which are needed to be applied both in their studies, research, and future careers.
5. P05 PO5 Adopted and implemented ethical principles and moral values regarding the use of technology in their studies and professional lives by creating an awareness on using the technological imperatives.
6. P06 PO6 Designed their theoretical and practical knowledge in a way that they could make use of in a collaborative usage and various working contexts.
7. P07 PO7 Enrolled in intercultural or international projects which could provide opportunities to develop their skills and implement them successfully in their studies, research and future careers.
8. P08 PO8 Improved their communication skills successfully and been able to implement them in various international education, research and work context by increasing their social capital.
9. P09 PO9 Been able to implement their learnt knowledge and research skills into practice through scenarios, case studies, empirical articles and real-life observations.
10. P10 PO10 Created awareness and developed ethical undertaking by incorporating the learnt theories with environmental approaches to be further implemented into their research and careers.

Po-Lo Matrix