AUDITING

Auditing is of critical importance for the smooth functioning of capital markets and plays a significant role in the efficient resource allocation in the economy. The module’s main objective is to therefore provide a firm foundation for students to understand the importance, nature and objectives of the audit function; the key concepts that underlie the audit process, and the principles of the audit practice. The topics analysed include the following:

• The need for, and value of, external financial statement audits
• Auditing’s regulatory framework
• Audit objectives and procedures
• Auditors’ reporting responsibilities