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  • Audit Outline

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    Abul Kashem
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    This document outlines the contents of 10 chapters on auditing. Chapter 1 discusses common auditing services, assurance levels, and audit opinions. Chapter 2 covers professional ethics, independence, and client acceptance. Chapter 3 looks at audit stages, fraud and going concern risks. Chapters 4-5 examine audit risk, materiality, assertions, and evidence. Chapters 6-7 define internal controls, sampling methods, and tests of controls. Chapters 8-9 outline transaction analysis, substantive procedures for revenues and expenses. Chapter 10 focuses on cash, accounts receivable, inventory, and property, plant, and equipment substantive testing.

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    Outline audit

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    This document outlines the contents of 10 chapters on auditing. Chapter 1 discusses common auditing services, assurance levels, and audit opinions. Chapter 2 covers professional ethics, independence, and client acceptance. Chapter 3 looks at audit stages, fraud and going concern risks. Chapters 4-5 examine audit risk, materiality, assertions, and evidence. Chapters 6-7 define internal controls, sampling methods, and tests of controls. Chapters 8-9 outline transaction analysis, substantive procedures for revenues and expenses. Chapter 10 focuses on cash, accounts receivable, inventory, and property, plant, and equipment substantive testing.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    7 views1 page

    Audit Outline

    Uploaded by

    Abul Kashem
    This document outlines the contents of 10 chapters on auditing. Chapter 1 discusses common auditing services, assurance levels, and audit opinions. Chapter 2 covers professional ethics, independence, and client acceptance. Chapter 3 looks at audit stages, fraud and going concern risks. Chapters 4-5 examine audit risk, materiality, assertions, and evidence. Chapters 6-7 define internal controls, sampling methods, and tests of controls. Chapters 8-9 outline transaction analysis, substantive procedures for revenues and expenses. Chapter 10 focuses on cash, accounts receivable, inventory, and property, plant, and equipment substantive testing.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Chapter-1: Chapter-6:

    • Common auditing services. • Internal controls, definition,


    • Different levels of Assurance. characteristics.
    • Different audit opinions (And related • Why it is needed? And limitations.
    cases). • Entity level.
    • Regulation, expectation gaps. • Transaction level.
    • Case studies. • Documenting internal control.
    • Logic diagram & audit strategy.

    Chapter-7:
    Chapter-2: • Audit Sampling.
    • Fundamental principles of • Sampling & non-sampling risk.
    professional ethics. • Methods.
    • Audit independence threat (And • Test of Controls (Transaction- Cash,
    related cases). Accounts receivables, procedures).
    • Audit independence safeguard. • Substantive testing procedure (Any
    • Client acceptance & Continuance. method as wish but explanation must
    • Case studies. be given for using the method).

    Chapter-3: Chapter-8:
    • Stages of Audit. • Transaction Assertion analysis
    • Fraud Risk. • WCGW (What Can Go Wrong).
    • Going Concern risk. • Bank reconciliation.
    • Corporate Governance. • Prevention of Non-recoverable sales
    • IT environment. (Effective diagram, better than Logic
    • Case studies. Diagram)

    Chapter-4: Chapter-9:
    • Audit Risk, model • Overview of substantive procedure.
    • Inherent, Control, Detection Risk & • Substantive audit procedure,
    Risk equation • Chart-Example.
    • Materiality. Steps of Materiality. • Revenue (substantive procedure).
    • Sample analysis/ comparison. • Cost of Sales.
    • Case studies.

    Chapter-5: Chapter-10:
    • Audit assertions (Emphasis on • Cash transaction, Cash flow.
    income statement and balance sheet • Cash-substantive procedure &
    assertions) assertion.
    • Audit evidence, types. • PPE- Same as above.
    • Persuasiveness assertion. • Writing style: Assertion > Objective >
    • Audit expert. Assertion.
    • Case studies. • When writing assertions, “Always
    perform” section is priority then
    analytical and then general.
    • Cash, Accounts receivables,
    inventory, PPE

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