ACF3600/ ACC3600: Complete Auditing and Assurance Notes

Description

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