306-304 Auditing

Coordinator:

Prerequisite/s:

Timetable:

Contact:

Objectives:

On completion of this subject a student should:

• have developed an understanding of the reasons for the existence of a demand for audits in our society, and the benefits derived from an audit;

• have developed an understanding of the current environment in which auditors operate, including ethical, legal and professional aspects;

• know the concepts and means used by auditors to gather evidence and make judgements in order to form an audit opinion, in both computer and non-computer environments;

• have developed an understanding of how auditors communicate with financial statement users and other interested parties;

• be familiar with contemporary research as it relates to auditing.

Content:

The rationale for auditing; auditing standards; audit objectives, concepts and procedures; audit techniques including statistical sampling and the audit of computer-based accounting systems; audit reports; contemporary auditing problems with special reference to the application of accounting and auditing principles; the legal liability of auditors; the professional responsibilities of auditors; the statutory responsibilities and rights of auditors; auditing research literature within three broad frameworks: agency theory, capital market theory and human judgement theory.

Assessment:

Prescribed Texts:

To be advised.