Course Outcomes (COs):
Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
On completion of this course, the students will be able to: CO110: Explain the overview of the Audit framework and regulation and Internal audit and governance CO111: Categorize Planning and risk assessment aspects involved in the audit CO112: Develop the Internal control systems in an organization as a part of the audit CO113: Distinguish between Audit evidence, Audit sampling, Computer-assisted audit techniques CO114: Analyze the characteristics of review and reporting and Getting overall understanding of review and reporting CO115: Develop an understanding on documentation of evidences |
Interactive Lectures, Discussion, Tutorials, Reading assignments, Demonstration, Self learning assignments, Effective questions, Seminar presentation
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
· Audit framework and regulation: Concept of audit and other assurance Engagements, External audits, Corporate governance, Professional ethics and ACCA’s Code of Ethics and Conduct
· Internal audit and governance: Differences between external audit and internal audit, scope of the internal audit function, outsourcing and internal audit assignments
Planning and risk assessment
· Obtaining and accepting audit engagements, objective and general principles, Understanding the entity and its environment, Assessing audit risks, Fraud, laws and regulations.
· Audit planning and documentation.
· Introduction to audit evidence.
Internal control
· Internal control systems, uses and evaluation of internal control systems by auditors, Tests of control.
· Communication on internal control.
Audit evidence
· Financial statement assertions and audit.
· Evidence, Audit procedures, Audit sampling and other means of testing, non current assets , inventory , receivables , cash and bank, common liabilities , directors remuneration and capital, Computer-assisted audit techniques, Work of others and Not-for-profit organizations
Review and reporting
· Subsequent events, Going concern, Written representations.
· Audit finalization and the final review, Audit reports
· ACCA Study Text- Audit and Assurance (International)
· ACCA F8 Audit and Assurance: Study Text
· https://ebookpbt.files.wordpress.com/2011/11/acca-f8-audit-and-assurance-int-study-text-bpp.pdf
· International Journal of Auditing