306-304 Auditing and Assurance Services

306-301 Financial Accounting.

Topics include 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; and auditing research literature within three broad frameworks: agency theory, capital market theory and human judgement theory.

A 3-hour end-of-semester examination (70%), a 1-hour mid semester test (10%), assignments totalling not more than 1500 words (10%) and seminar participation (10%). Satisfactory completion of this subject requires a 50% pass in the end-of-semester examination.