Semester 1, 2017

ACF3600/ ACC3600: Complete Auditing and Assurance Notes

99 pages

22,044 words




Comprehensive notes from weeks 1-11. Topics that are important to study and revise for the final exam are highlighted in yellow.

- Introduction and overview of audit and assurance,
- Ethics, legal liability and client acceptance
- Risk assessment I
- Risk assessment II
- Audit evidence
- Sampling and overview of the risk response phase of the audit
- Gaining an understanding of the client’s system of internal controls
- Execution of the audit — testing of controls
- Execution of the audit — performing substantive procedures; Substantive testing and income statement accounts
- Substantive testing and balance sheet accounts
- Completing and reporting on the audit