Audit and AssuranceModule Details

Rationale

In today's complex business environment, the assurance of financial information is crucial for maintaining transparency, accountability, and investor confidence. Hence, this course serves as a foundational pillar within the curriculum, equipping students with the necessary knowledge and skills to perform audits effectively and ethically, ensuring the reliability and credibility of financial statements. Students gain an insight into the fundamental principles of audit, including risk assessment, audit planning, internal control, assurance concepts and methodologies and become proficient with the work and evidence required to meet audit objectives. 
The aim of this course is to provide students with an understanding on planning and conducting internal and external audits of a company's financial statements and to examine the importance of assurance services to users of financial statements.

Learning Outcomes

At the end of the course students will be expected to:
(i)     Analyse the nature, purpose and scope of internal audit and assurance engagements.  
(ii)     Apply basic assurance concepts and methodologies.
(iii)    Determine the factors considered in order to obtain an understanding of the entity and its environment. 
(iv)    Apply the materiality requirements to the evaluation of identified misstatements/audit procedure.
(v)     Distinguish the impact of the conclusions/audit final reports of an audit work in the different types of audit reports. 
(vi)    Follow the procedures of conducting financial audits.
(vii)   Apply the code of professional conduct in the audit process.
(viii)  Apply various auditing techniques.