AUDITING-I

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. In success of completion of this course, all students will develop their knowledge and understanding on: an introduction to assurance and financial statement auditing, , the financial statement auditing environment, audit planning types of audit tests and materialism, evidence and documentation, internal control in a financial statement audit, auditing internal control over financial reporting, and apply critical thinking skills and solving auditing problem through the use of case studies.

AUDITING-I

Evaluation Tools (Active Term)

Course outcomes

1. 01 Demonstrate an understanding of fundamental audit concepts
2. 02 Apply a range of audit procedures.
3. 03 Apply auditing standards
4. 04 Demonstrate an understanding of the legal 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 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 the fundamental audit concepts SOLO 4
2. L02 Develop a range of audit procedures for different cases SOLO 5
3. L03 Assess the importance of professional ethics and apply the profession's code of ethics SOLO 5
4. L04 Develop critical thinking skills and solve auditing problems through the use of case studies SOLO 5
5. L05 Reflect an understanding on significant auditing issues SOLO 5

Program Outcomes

1. P01 PO1: Engaged in insightful thinking leading to self-learning and lifelong learning.
2. P02 PO2: Established a general knowledge of economics sufficient to work independently through specific learned techniques generated via individual efforts and study.
3. P03 PO3: Reached the required knowledge and skills to understand social, economic and legal issues both within national, international and global contexts and apply theoretical knowledge of economics to practice.
4. P04 PO4: Adopted the ability to critically evaluate, analyze and interpret information gathered through the use of related statistical software programs to suggest creative solutions for economic problems and make relevant economic decisions.
5. P05 PO5: Been aware of gathering and analyzing data through the application of appropriate technological tools in an ethical and safe manner in order to generate economic decisions and policy suggestions.
6. P06 PO6: Been equipped with conceptual and analytical skills essential for team-working and collaborations for economic decision making for a variety of economic concepts in national and global environment.
7. P07 PO7: Endowed with both oral and written communication skills within the economic field to effectively study and work in an international environment
8. P08 PO8: Been able to transfer theoretical knowledge to real life economic environment: to generate policies for microeconomic and macroeconomic problems faced by individuals, firms and governments at national, international and global context.
9. P09 PO9: Developed an ability to apply economic analysis to everyday problems in real world through the development of ethical perspectives and social responsibilities at work and in personal life.

Po-Lo Matrix