COURSE DESCRIPTION:

 

This course will focus on the market need for reliable financial information in an increasingly control-conscious and international environment. Its aims are

1. to define audit and distinguish its different types (internal and external auditing) and relationship to users

2. to consider methods of auditing, how evidence is gathered and documented, how conclusions are reached. to understand reasons for the increasing awareness of the need for internal control and the work of the Committee of Sponsoring Organizations (?COSO?)

3. to explain what risk management is, understand the COSO Enterprise Risk Management (ERM) Model and how to manage risks properly.

4. To understand what fraud is and how to deal with fraud risk in the audit approach. How to respond to fraud when suspected or detected.

5. The analysis of audit reporting.

 

EXPECTED LEARNING OUTCOMES:

 

On completion of this module, the student should be able to:

1. Understand the principles of auditing

2. Have an appreciation of the organization and evolution of the profession

3. Be familiar with Professional Ethics (regarding the accounting profession)

4. Discuss the audit process, with a focus towards the audit of a multinational enterprise

5. Understand audit evidence & documentation

6. Understand fraud auditing and risk management

7. Be able to interpret and draft audit reports

 

TEXTBOOK:

 

O.Ray Whittington, Kurt Pany Principles of Auditing and Other Assurance Services 19th Edition 2014 Mc Graw-Hill/Irwin ISBN 978-125-906095-3

 

EVALUATION :

 

The final grade will be made up of class participation (20%), a mid-term test (40%) and the final examination (40%)