BACC 3203: ADVANCED AUDITING AND ASSURANCE (45 CONTACT HOURS)

Prerequisite – BACC 1203: Principles of Auditing

Course Purpose
Explore the principles of auditing and apply auditing in highly specialized business environment
including business combinations, international businesses and business branches.

Learning Outcomes
By the end of this course, it is expected that the student will be able to:
1. Identify, describe, and analytically evaluate the advanced principles and procedures
applied in internal and external auditing practice.
2. Identify, describe, and analytically evaluate the various advanced legal and professional
requirements for an auditor and the role of an auditor as a professional requirement.
3. Explain the advanced procedures required in a computerized accounting system.

Course Description
1. The influence of national and international accounting standards
2. Assessment of materiality and the application of judgment in relation to disclosure
3. Presentation of information in published financial statements
4. Audit committees and auditor’s independence
5. Post balance sheet events and the post-audit client review
 Advanced aspects of computer auditing
6. Advanced audit sampling theory
 Advanced substantive audit testing
7. Current Issues and Development

 Identify and evaluate emerging issues in advanced auditing and

assurance.

 Analyze the impact of these issues on the auditing and assurance

process.

 Develop strategies to address these issues and improve audit quality.

 8. Code of Ethics for Professional Accountants

 Enable the student to understand the code of conduct for professional

accountant.

 Enable the student to understand the threat the ethical behavior.

 Enable the student to understand the safeguard to the different threats

to ethical behavior.

Teaching Methodology
Lectures, group discussions and group work,

Instructional Materials:
Tablet, Smartboard, LCD projector & Computers, Flipcharts.

Course Evaluation
CATs/Assignment/Presentation 30 %
Final Examination 70 %
Total 100%

Course Text books

1. Millichamp, A.H. (2007), “Auditing”, 10th Edition, Pearson Education
Publishers.Loebbecke, A (2007), “Auditing: An Integrated Approach”, 9th Edition,
McGrawHill. ISBN 0-538-02300-7
2. Louwers, T. J., Ramsay, R. J., Sinason, D. and Strawser, J. R. (2010). “Auditing and
Assurance Services,” Edition: 4th, Prentice Hall, ISBN: 9780078136641
3. Tata McGraw Book Co.New Delhi..Contemporary Auditing. ISBN: 978-0-273-68410-7

Reference Text books

1. Latest International Standards on Auditing, (2010). ISSN:1450-2889
2. International Financial Reporting Standards. ISSN 1833-8119
3. Mcdonald& Evans,Advanced Auditing and Investigation. U.K.ISSN: 2046-9578
Course Journals
1. Journal of Auditing. ISSN: 1099-1123
2. Journal of International Auditing. ISSN: 1099-1123
3. Journal of Accounting and Finance.ISSN 1752-8232

Reference journals
1. Journal of International Accounting and Auditing. ISSN 1740-8016
2. Journal of Finance. ISSN: 1540-6261
3. Journal of Auditing. ISSN: 1099-1123