Students will be able to understand the basic concepts and goals of auditing, general principles governing, reasonable assurance, legal considerations regarding the rights and obligations of the auditor, the significance of books of account and financial statements for auditing, the necessity of understanding the entity and its environment, etc., through this subject. Additionally, students will learn about various audit tests and approaches that are used to test and verify assets, equity, liabilities, sales, inventories, cash, and bank balances, among other things. The significance of statistical sampling methods for financial statement planning and auditing will also be covered with the students.
Course Learning Outcomes
Students who complete the program will be able to:
- Understand the nature, purpose, organization, and significance of an audit for stakeholders.
- Describe how standards and laws play a part in the preparation and conduct of an audit.
- Recognize the significance of comprehending the entity and its surroundings for the audit plan and developing an opinion.
- Use the methods provided for evaluating internal controls to find any weak points.
- Describe the variety of auditing techniques that auditors can use to provide audit evidence.
- Determine the guidelines for examining and confirming the information in a client’s financial statements.
- Understand the purpose of sampling and its requirements for an audit program.
- Apply auditing standards and practices to a variety of entities, such as publicly listed firms, small enterprises, and non-profit organizations, among others.
- Convey audit results in written reports and oral presentationsontents.
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