The rationale behind every module is to offer the student all possible knowledge in each module of the course, in order to be able to deepen their understanding and render them capable of practically applying it. Audit and Assurance provides an overview of the basic principles of audit, the assessment of the risk of material misstatement and how audit of financial statements is planned. Furthermore, the purpose and scope of assurance engagements including the role of the external audit and its regulatory and ethical framework, as well as of internal audit and its role are explained to the students. By the end of the module the students should be able to identify and describe the work and evidence required to meet the objectives of an audit.

After completion of the course students are expected to be able to:
Explain the nature, purpose and scope of assurance engagements.
Explain the nature of internal audit and describe its role
Demonstrate how the auditor obtains an understanding of the entity and its environment
Identify and describe the work and evidence required to fulfil the objectives of an audit
Demonstrate the impact of the conclusions of an audit work in the different types of audit reports