Audit Practice

Description

This course aims to develop the students’ knowledge, understanding and critical awareness of the audit techniques, judgements and practical skills associated with a financial statement audit. The context of the course reflects both the UK and International legal, regulatory and ethical framework. The course forms an introduction to the 4 th year Audit Theory and Evolution course which goes on to explore the historical context and current professional, regulatory, ethical and societal challenges and developments facing the audit and assurance profession. This course aims to provide students with a foundational knowledge, understanding and critical awareness of current audit techniques, judgements and practical skills associated with a financial statement audit. The context of the course reflects both the UK and International legal, regulatory and ethical framework. Topics covered may include: The role, regulatory framework and legal responsibilities of financial statement auditors (Including Money Laundering) Fundamental Concepts (i.e Materiality, Independence, judgement, scepticism/suspicion) Audit methodology -Risk Management The audit process Audit testing and the search for evidence (Incl Sampling and data analytics) Audit Reporting Fraud and Going Concern Ethics Guest lectures/workshops from professional firms will provide a clear link from theory to practice. The course forms an introduction to the 4th year Audit Theory and Evolution course which goes on to explore the historical context and current professional, regulatory, ethical and societal challenges and developments facing the audit and assurance profession.