COURSE INFORMATION FOR CURRENT

SEMESTER/TERM

Sesi Akademik 2019/2020

Academic Session

Semester/Penggal 1

Semester/Term

Kod Kursus CIA3005

Course Code

Tajuk Kursus Advanced Auditing

Course Title

Bahasa Pengantar English

Medium of Instruction

Rujukan Utama 1. Arens, A., Elder, R. and Beasly, M., Auditing and Assurance Services.
An Integrated Approach. Fourteenth Edition. New Jersey: Pearson,
Main Reference 2014.

2. Beasley, M.S., Buckless, F.A., Glover, S. M. and Prawitt, D. F., Auditing

Cases An Interactive Learning Approach. Fifth Edition. New Jersey:
Pearson, 2012.

3. Approved Standards on Auditing in Malaysia (ISAs and IAPs)

4. MIA By-Laws (on Professional Conduct and Ethics)

Strategi Pembelajaran Seminar, Discussion, Case Study

Learning Strategies

Masa Pembelajaran Pelajar 120 hrs

Student Learning Time

Face to face: 47 hrs

(lecture, tutorial)

Self learning: 68 hrs

(preparation before and after lecture, preparation for final examination,

preparation for tutorial, preparation for individual and group assignments)

Assessment: 5 hrs

(Test, Final Exam, Assignments)

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Kemahiran Boleh Pindah Team Work Skills TS1-2

Transferable Skills Professional Ethics and Moral EM1-2

Leadership Skills LS1-2

Pensyarah / Lecturer Dr Suhaily Shahimi / AP Dr Zarina Zakaria

Bilik / Room B2-14 / A1-4

Telefon/e-mel 7967 3916 / 7967 3812

Telephone/e-mail suhaily@um.edu.my / zarinaz@um.edu.my

Sesi Kuliah / Lecture Tuesday: 9.00am -11.50am

Session:
Wednesday: 9.00am -11.50am; 3.00pm – 5.50pm
Hari/Masa / Day/Time
BSB09/BSB09/BSB08
Tempat / Venue

Sesi Tutorial/Amali: NA

Tutorial/Practical Session:

Hari/Masa / Day/Time

Tempat / Venue

Perincian Pemberatan Term Test: 10%: Venue: DK1; Week 10

Penilaian
Group Assignment 1: 10%; Week 3
Detail of Assessment
Weightage Group Presentation: 5%; Week 14

Individual Assignment: 5%; Week 13

Group Assignment 2: 10%; Week 14

Final exam:60%; 8/1/2020; 3-6pm Wednesday

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Jadual Pengajaran / Teaching Schedule

Minggu Topik & Aktiviti Rujukan

Week Topic & Activities References

1 INTRODUCTION

 Concepts in auditing (agency theory, types of audit, Arens

sampling, materiality, etc)

2 ROLES OF EXTERNAL AUDITOR IN CORPORATE MCCG

GOVERNANCE
ISA 260
 Roles of external auditors, board of directors,
management and internal auditors in corporate ISA 265
governance
 Interactions between four components of corporate Relevant articles
governance and its implications to financial
statements audit
 Communication with those charged with
governance

3 CODE OF ETHICS FOR AUDITORS Arens Ch. 4

 Fundamental principles of ethics and professional ISA 700, ISA 600
conduct in accordance to MIA By-law

 Importance of professional ethics

Companies Act, 2016
 Concepts of independence and its importance

 Situation that can influence independence in

appearance and in fact MIA By-Laws 2019
 Advertising and other methods to attract customer Relevant articles
 Audit fees

 Services that can impair independence

 Safeguards to protect threats to independence

4 EFFECTS OF POST-BALANCE SHEET EVENTS Arens Ch. 24

 Management and auditors’ responsibility ISA 501, ISA 560, ISA
 Completing the audit processes and procedures 550, ISA 580, ISA 570

 Types of post-balance sheet event Relevant articles

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5 EFFECTS OF POST-BALANCE SHEET EVENTS Arens Ch. 24

 Impact of events on audit report ISA 501, ISA 560, ISA
 Additional evidence in relation with contingency and 550, ISA 580, ISA 570
commitment Relevant articles
 Going concern concept

 Management and auditors’ responsibility

6&7 GROUP AUDIT Relevant articles

 Planning and administration for group audit

 Specific issues in group audit

 Principal auditor

 Compliance of International Auditing and

Accounting Std.

 Related parties’ transaction

 Goodwill on consolidation

 Letter of support

 Audit report for subsidiaries

9 AUDITOR’S REPORT Arens Ch. 3

 Objectives and format audit report ISA 700, ISA 570
 The needs for an audit report
 Unqualified report Relevant articles

Group Assignment1 (10%) due

Companies Act 2016

10 AUDITOR’S REPORT Arens Ch. 3

 Types of qualified report ISA 700, ISA 570
 Circumstances that lead to the issuance of
unqualified report Relevant articles
 Disclaimer of responsibility
 Expanded audit report

Companies Act 2016

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11 LIABILITY OF AUDITORS Arens Ch.5

 Liability under the Companies Act 2016 Relevant articles
 Liability under Common Law

 Breach of contract and negligence

 Limitation of Liability
 Role of Auditing Oversight Board when there is a
breach of contract and negligence.

Term Test (10%)

8 THE IMPACT OF INFORMATION TECHNOLOGY (IT) ON Arens Ch. 12

AUDIT PROCESS
(e-Learning
Week)  Audit objective and scope of work in a
computerised environment Relevant articles

 Assessing Risks of IT

 Internal control in IT Environment

 Auditing through or via computer

 Computer Assisted Auditing Techniques – CAATs

 Nature and types of CAATs

 Consideration in using CAATs
 Auditing software that can be used (Audit
Express, ACL, IDEA)
 Test of data
 E-commerce and its impact on audits

12 ASSURANCE RELATED SERVICES AND NON- Arens Ch. 25

ASSURANCE SERVICES

 Auditor’s report to audit special circumstances -

special purpose audit

 Assurance level for related services

 Due diligence review

 Forensic accounting/auditing

 Assurance level for related services

 Due diligence review

 Forensic accounting and/or auditing

 Consultation

 Secretarial services

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 Agreed upon procedures

 Compilation

 Review of financial information

 Review engagement

13 CURRENT ISSUES OF AUDITING Relevant articles

Suggested issues:

 Independence
 Audit quality
 Audit regulation
 Integrated reporting and sustainability reporting
 Role of audit in era of cloud computing
 Audit expectation gap
 Big data analytic

Individual Assignment (5%) due

14 Revision

Group Presentation 5%

Group Assignment2 (10%) due

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