Auditing Theory and Practice
This optional module is concerned with the statutory (external) audit of business entities within the private sector. In particular, the module will cover the economic rationale for statutory auditing; the authority to audit as well as the nature and regulation of the statutory audit profession; statutory auditor independence and ethics; statutory auditor duties and the expectations gap; international auditing standards; the audit report; the nature of audit evidence; audit evidence, assertions and the risk-based approach to statutory audit.
By the end of the module, students should be able to:
- Describe, explain and evaluate the conceptual framework of statutory audit and related legal, regulatory and ethical issues;
- Describe, explain and evaluate the statutory audit process;
- Describe explain and evaluate current developments in statutory auditing.