Course Scope

Nearly all professional jobs have auditing as a core component of their ongoing and strategic actions. While a limited number of positions focus solely on internal and external auditing, the bulk of commerce graduates will apply risk assessment, internal control, systems evaluation, and forensic accountability ideas and techniques in their careers. Thus, the course aims at developing students’ understanding of the critical aspects of managing an assurance and audit engagements: acceptance, planning, managing, concluding and reporting. On completion of this course, students will be able to:
➢ Understand and advise on the regulatory, professional and ethical issues relevant to those carrying out an assurance/audit engagement
➢ Understand the processes involved in accepting and managing assurance/audit engagements, and how quality assurance/audit processes mitigate the risks to those conducting the engagement
➢ Plan assurance/audit engagements in accordance with the terms of the engagements and appropriate standards
➢ Conclude and report on assurance/audit engagements in accordance with the terms of the engagements and appropriate standards.

Course Outline

Auditing’s Course Outline – .pdf

Suggested Reading

• Modern Auditing, Theory and Practice according to the International Auditing Standards, Karamanis Konstantinos, 2008.
• “Auditing Cases (translated)”, Beasley Mark, Buckless Frank, Glover Steven, Prawitt, Broken Hill Publishers LTD

Additional Suggested reading

• Porter, B., Hatherly, D. and Simon, J. (2014), Principles of external auditing. Wiley, Hoboken, NJ.
• Eilifsen, A., Messier, W. and Prawitt, D. (2014), Auditing and assurance services. McGrawHill, London
• Handbook of International Auditing, Assurance, and Ethics Pronouncements, International Federation of Accountants, New York. (available at http://www.ifac.org).