Semester 1, 2018

ACCT3600 - Auditing Study notes

34 pages

7,077 words




Comprehensive study notes structured for intensive exam preparations. Final HD notes!

Topics covered:

Week 1. The value of an audit, auditor ethics & independence
Week 2. Planning the audit. Business Risk. Analytical Procedures. Internal Controls
Week 3. Audit Risk Assessment, and selection of the key accounts
Week 4. Audit Evidence. Introduction to Substantive Tests. Limitation of Scope. Materiality
Week 5. Testing Internal Controls. Use of Experts. Substantive testing examples.
Week 6. Revision for MSE
Week 7. Understanding and Testing IT Controls, Substantive Procedures Using GAS
Week 8. GAS Normal Reports and Exception Reports, Audit Data Analytics, Audit Sampling, Fraud a “Special Risk”
Week 9. Subsequent Events, the Types of Audit Reports, Introduction to “Going Concern”
Week 10. Going Concern Assumption
Week 11. Audit Quality, Expectation Gap, Other Assurance Services
Week 12. The Regulatory Environment of Auditors, Auditors Liability to Clients, Auditors’ Liability to Third Parties
Week 13. Final Exam