Module Description

The Auditing and Assurance module will enable students to gain a good understanding of concepts in the auditing procedures of a company, either internal or external. It will also enable them to apply key principles of auditing and prepare financial statements as necessary.

Module Aim

This module aims at providing students with an overview of the purpose and scope of assurance engagements including the role of the external audit and its regulatory and ethical framework, internal audit and describe its role as part of the overall performance management and its relationship with the external audit and demonstrate the basic principles of audit, the assessment of the risk of material misstatement and how audit of financial statements is planned.

Module Learning Outcomes

After completing the module students should be able to:

1. Explain the nature, purpose and scope of assurance engagements. 
2. Comprehend the nature of internal audit and describe its role.
3. Demonstrate how the auditor obtains an understanding of the entity and its environment.
4. Identify and describe the work and evidence required to fulfil the objectives of an audit.
5. Illustrate the impact of the conclusions of an audit work in the different types of audit reports.
6. Understand reporting for audit purposes.
7. Perform audit planning and risk assessment.
8. Practice audit procedures.
9. Analyse internal control system.
10. Discuss audit concepts and related regulatory framework.