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    Acc214 Module Outline 2021

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    Phebieon Mukwenha
    This document outlines the modules for the ACC214 course on performing the audit process. It details that students will be assessed through 30% coursework and a 70% final examination. The course covers topics such as the overall audit objective, professional skepticism, the audit risk model, the code of professional conduct, the audit process including planning and obtaining evidence, auditor responsibility for fraud, obtaining audit evidence through analytical procedures and tests of detail, forming an opinion, and modifications to the audit opinion. Recommended textbooks are also provided.

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    Acc214 Module Outline 2021

    Uploaded by

    Phebieon Mukwenha
    53 views2 pages
    This document outlines the modules for the ACC214 course on performing the audit process. It details that students will be assessed through 30% coursework and a 70% final examination. The course covers topics such as the overall audit objective, professional skepticism, the audit risk model, the code of professional conduct, the audit process including planning and obtaining evidence, auditor responsibility for fraud, obtaining audit evidence through analytical procedures and tests of detail, forming an opinion, and modifications to the audit opinion. Recommended textbooks are also provided.

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    ACC214 MODULE OUTLINE 2021

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    This document outlines the modules for the ACC214 course on performing the audit process. It details that students will be assessed through 30% coursework and a 70% final examination. The course covers topics such as the overall audit objective, professional skepticism, the audit risk model, the code of professional conduct, the audit process including planning and obtaining evidence, auditor responsibility for fraud, obtaining audit evidence through analytical procedures and tests of detail, forming an opinion, and modifications to the audit opinion. Recommended textbooks are also provided.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    53 views2 pages

    Acc214 Module Outline 2021

    Uploaded by

    Phebieon Mukwenha
    This document outlines the modules for the ACC214 course on performing the audit process. It details that students will be assessed through 30% coursework and a 70% final examination. The course covers topics such as the overall audit objective, professional skepticism, the audit risk model, the code of professional conduct, the audit process including planning and obtaining evidence, auditor responsibility for fraud, obtaining audit evidence through analytical procedures and tests of detail, forming an opinion, and modifications to the audit opinion. Recommended textbooks are also provided.

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    © All Rights Reserved
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    MODULE OUTLINE 2021

    ACC214 AN INTRODUCTION TO PERFORMING THE AUDIT PROCESS

    Course Assessment
    Course work (Written) 30%
    Examination 70%
    Total 100%
    At the end of the semester, you are going to write a 3-hr examination. Re call exam
    Important rules of the module
    1. Answer in point form (very important)
    2. Skip a line after each point
    3. Write legibly
    4. Answer each question on a separate page
    5. Use tabular format (wherever possible)
    A. Introduction to Auditing
     Overall Audit objective (ISA 200: 3)
     Basic Auditing premise
     Introduction to Auditing
     Limitations of an Audit
     The Audit risk Model
     Professional skepticism
    B. The Code of Professional Conduct
     Fundamental Principles
     Threats to Fundamental Principles
     Safeguards to reduce threat
    C. The Audit Process
     Preliminary engagement activities ISA 210, 220
     Planning (Establish audit strategy & plan) ISA 300, 315,320,330)
     Obtain audit evidence( SARs,TOCs,SPs)
     Evaluate, conclude and report
    D. Auditor’s responsibility iro Fraud (ISA 240)
     Fraud detection
     How occupational Fraud is committed
     The Fraud Triangle
     Audit documentation (ISA 230)
     ISA 260 Communicating with Those Charged with Governance
    E. Obtain Audit Evidence ISA 500
     Reliability of Audit Evidence
     Analytical Procedures ISA
     Substantive procedures – Test of detail
     Standard Documentation
     Audit approach
     Direction of testing
     Audit objectives ( Income Audit)
     Test of controls
     Using the work of internal auditors ISA 610
     Using the work of an expert ISA 620
     Going concern ISA 570
     Forming an opinion ISA 700
    F. Communicating Key Audit Matters in the Auditor’s Report ISA 701
    G. Modifications to the Audit opinion ISA 705
    H. Emphasis of matter and other matter paragraph (ISA 706)
    I. Internal Auditing

    Recommended texts
    1. Auditing Notes for South African Students, Jackson, R.D.C.
    & Stent W.J., 2012
    2. Advanced Case Studies in External Auditing & Corporate
    Governance, Prinsloo, F.E.,2012
    3. IAASB Handbook – Volume 1, 2013
    4. Applied Questions on Auditing, Marx, Van der Watt, Sadler,
    Van Staden, 6th Edition
    5 Dynamic Auditing

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