306-304 Auditing

Coordinator

Prerequisites

306-301 Financial Accounting (or Departmental approval) and 316-202 Intermediate Microeconomics.

Semester

Contact

Subject Description

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

A 1-hour mid-semester examination (10%); one assignment not exceeding 1500 words (10%); seminar participation (10%); a 3-hour end-of-semester examination (70%). Satisfactory completion of this subject requires a 50% pass in the end-of-semester examination.