Auditing

Convenor: Zhiqi Wang
Assessment: One three-hour written examination (75%) and a 2,000- 2,500 word course work (25%) - deadline 30th March 2012; Absolute Cut-Off deadline – 20th April 2012

Aims

The course aims to provide fully up to date knowledge of international development of auditing standards, a sound balance of audit theory and real practice, particularly focusing on client acceptance, risk assessment, materiality, internal control, control risk, audit planning and test of controls.

Objectives

The course plans to ensure that the students should have a knowledge and understanding of:

• Development of auditing through world history, development of international accounting and auditing standards, types of audits, types of auditors, audit objectives based on management assertions, theories on the demand and supply of audit services;
• Understand the procedures of client acceptance;
• Understanding the entity, risk assessment and materiality;
• Understand the design and implications of internal control and control risk;
• Estimate audit risk and examine test of controls using various technical skills including analytical procedures

Intellectual

Through case studies and lectures, students would be able to understand the audit process and audit risk in the real world which will prepare the students with the necessary knowledge to pursue a career as an auditor in multinational companies and auditing firms.

Practical

Through group discussion and case study, students can improve their communication skills, teamwork skills and presentation skills which will aid students’ success in job seeking.

Backround Reading

Main Text:

• Rick Hayes, Roger Dassen, Arnold Schilder, and Philip Wallage, Principles of Auditing- An Introduction to International Standards on Auditing, 2nd Edition, Pearson Education Limited 2005, ISBN 0 273 68410 8

Supplementary Indicative Reading

• Gray, Iain & Manson, Stuart, The Audit Process - Principles, Practice and Cases, ISBN-13: 9781844806782: ISBN: 1844806782, Cengage Learning EMEA, ©2008
• Porter Brenda, Hatherly David, and Simon, Jon, Principles of External Auditing, 3rd Edition - August 2008, ISBN-10: 0-470-01825-9: ISBN-13: 978-0-470-01825-5 - John Wiley & Sons