ACCT 311 Auditing

من اهم الكورسات لطلاب الاكاونتينق لانه باختصار هذا هو اللي بتشتغله لو رحت البيق فور او مكاتب المحاسبة .

COURSE OUTCOMES

• Audit function and its environment
• Auditor’s legal, professional and ethical responsibilities
• Audit process and possible problems faced during an audit
• Engagement letter, its preparation and implications
• Working papers and evidence gathering
• Internal controls and its implications for the audit
• Planning and modifying the audit engagement
• Sampling techniques and their effect on the efficiency and effectiveness of the audit
• Performing compliance and substantive tests
• Evaluation of audit findings and preparation of the audit report.

COURSE OBJECTIVES


The subject is designed to provide students, who are majoring in accountancy, with professional, theoretical and practical knowledge that is needed by accountants in understanding and discharging their responsibilities as auditors in a professional environment. This includes the legal, professional and ethical requirements.


The main general objectives of this subject are for the students to:

• Know, understand, the nature of auditing and its environment
• Understand and observe auditors’ legal, professional and ethical responsibilities in performing audit
• Understand and prepare the engagement letter
• Realize the importance of working papers and evidence gathering and prepare the necessary working papers needed during an engagement.
• Evaluate the internal control system of the auditee and consider its impact on compliance and substantive tests
• Plan and modify the audit engagement in the audit engagement in the light of the nature of the audit and legal requirements
• Perform sampling techniques and understand their effect on the efficiency and effectiveness of theaudit
• Perform compliance and substantive test
• Evaluate the audit findings and prepare the audit report.

Chs:




The Role of the Public Accountant in the American Economy



The Role of the Public Accountant in the American Economy



Professional Standards

Professional Ethics



Legal Liability of CPAs







Audit Evidence and Documentation



Midterm Exam, (Chapters 1-5)

(Date and Time will be announced)





Planning the Audit: Linking Audit Procedures and Risk





Internal Control





Consideration of Internal Control in an Information Technology Audit





Audit Sampling

Cash and Financial Investments

Accounts Receivables, Notes Receivables and Revenue

Property, Plant, and Equipment: Depreciation and Depletion

Auditing Operations and Completing the Audit

Audit Report