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Auditing AUE3761
Classes
1. Substantive procedures
1. Preliminary engagement activities
1. Confirming that the pre-conditions for an audit are present
2. Determining whether the auditor wishes to establish a new engagement with the client or continue an existing relationship
3. Evaluating whether a legal vacancy exists or not
4. Evaluating skills, competence and resources
5. Evaluating the integrity of management
6. Evaluating ethical considerations
7. Formalizing the terms of the engagement
2. Audit strategy
2.1 What is the overall audit strategy?
2.2 Understanding the characteristics of the engagement which define its scope
2.3 Understanding the characteristics of the engagement which affect its timing
2.4 Understanding the characteristics of the engagement which affect its direction
3. Audit planning
1. The role and timing of planning
2. The requirements of planning
3. The nature of audit procedures
4. The timing of audit procedures
5. The extent of audit procedures
4. Risk assessment
1. Important definitions relating to risk assessment
2. Risk Assessment Procedures and Related Activities
3. Obtaining an Understanding of the Entity and Its Environment, the Applicable Financial Reporting Framework and the Entity’s System of Internal Control
4. Identifying and Assessing Risks of Material Misstatement at the Financial Statement Level
5. Assessing the risk of material misstatement at the assertion level
5. Internal control
1. What are internal controls?
2. The definition of internal control
3. The five components of internal control
4. The inherent limitations of internal control
5. Understanding preventative controls
Introduction to Auditing
Understanding the Basics of Auditing
Importance of Auditing in Business
Historical Development of Auditing
The Audit Process
Overview of the Audit Process
Pre-engagement Activities
Audit Planning
Audit Evidence
Tests of Controls
Substantive Procedures
Audit Completion
Ethical Considerations in Auditing
Ethics in Auditing
Ethical Dilemmas Faced by Auditors
Professional Practice Standards
Advanced Auditing Topics
Fraud Examination
Internal Control Evaluation
Audit Reporting
Audit Quality and Assurance
Practical Application of Auditing Skills
Case Studies in Auditing
Simulated Audit Engagements
Real-world Audit Scenarios
Conclusion and Future Trends in Auditing
Summary of Key Learnings
Emerging Trends in Auditing
Career Opportunities in Auditing
Case Studies in Auditing
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