Auditing of companies' financial accounts help increase transparency as it assures stakeholders and potential investors that companies' accounts are reliable, unbiased, and faithful representations of companies' financial performance. This module will provide a thorough understanding of a range of auditing topics together with an appreciation of the regulatory and social environment within which auditing process takes place. Through real-life case studies, you will gain technical knowledge and critical thinking skills that will help you undertake efficient auditing processes and provide assurances to all interested stakeholders, applying the International Standards on Auditing (ISAs) where relevant.
Lecture 24, Seminar 16, Independent Study 110, Assessment Preparation 50
Individual Essay (1500 words) worth 40%.
Invigilated examination (2 hours) worth 60%.
Reassessment Method: 100% Examination– Invigilated Examination – 2 hours
On successfully completing the module, students will be able to:
1. Explain the concept of audit and assurance and the functions of audit and corporate governance, including ethics and professional conduct, critically evaluating the scope of and distinctions between internal and external audit.
2. Critically appraise the regulatory, legal, professional and socio-economic environments within which company audits are performed.
3. Critically analyse the risk-based approach to auditing.
4. Critically evaluate the role played by both internal and external auditors in a wider context, understanding the tests, systems, and controls that each may use in the audit process.
5. Recognise and critically assess the nature, role and development of professional independence
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