Scribd Logo
Upload

Welcome to Scribd!

  • ACC231-PPT-CH1-Week 1

    Uploaded by

    Crista Iy
    4 views13 pages
    The document provides an overview of an auditing course, including its structure, materials, learning objectives, and assessments. It introduces auditing and distinguishes it from accounting. Auditing involves accumulating and evaluating evidence to determine if information meets established criteria, while accounting records and reports on economic events. The document outlines the first learning objective which is to describe auditing and its key aspects of evaluating information, accumulating evidence, and reporting.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document provides an overview of an auditing course, including its structure, materials, learning objectives, and assessments. It introduces auditing and distinguishes it from accounting. Auditing involves accumulating and evaluating evidence to determine if information meets established criteria, while accounting records and reports on economic events. The document outlines the first learning objective which is to describe auditing and its key aspects of evaluating information, accumulating evidence, and reporting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    4 views13 pages

    ACC231-PPT-CH1-Week 1

    Uploaded by

    Crista Iy
    The document provides an overview of an auditing course, including its structure, materials, learning objectives, and assessments. It introduces auditing and distinguishes it from accounting. Auditing involves accumulating and evaluating evidence to determine if information meets established criteria, while accounting records and reports on economic events. The document outlines the first learning objective which is to describe auditing and its key aspects of evaluating information, accumulating evidence, and reporting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 13

    Auditing and Assurance Services

    Seventeenth Edition, Global Edition

    ACC 231 – AUDITING 1

    Introduction to the
    Course Outline

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    ACC 231 – AUDITING 1

    https://www.youtube.com/watch?v=OSbS9rxcfmY

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    ACC 231 – AUDITING 1
    1. Structure of weekly classes:
    • Lecture Sessions: Sundays – 08:00 to 9:40
    • Tutorial Sessions: Thursdays – 08:00 to 08:50 (section 1)
    • Tutorial Sessions: Thursdays – 10:00 to 10:50 (section 2

    2. Course references and materials:


    • Textbook: Elder, Beasley, Hogan and Arens “Auditing and
    Assurance Services”, 17th edition. PEARSON, Global Edition,
    2020. Book Site: Pearson. https://www.pearsonhighered.com

    • Other references in
    the library (http://www.ac-
    knowledge.net/uobv3/) plus materials posted in blackboard.

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    ACC 231 – AUDITING 1
    3. Course Intended Learning Outcomes (CILOs):

    • Recognize the role of auditing profession in society and


    the responsibility of external auditors. (chapter 1 & 2).

    • Apply the code of professional ethics and the auditing


    standards to prepare the audit report. (chapter 25 & 5).
    • Identify audit evidence to prepare audit documentation.
    (chapter 6)
    • Prepare audit planning to manage different types of
    risks in the auditing profession. (chapter 7&8).
    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.
    ACC 231 – AUDITING 1
    4. Course Assessments
    Assessment Type Number Weight Date

    Engagement Activities 5% • TBA

    Continuous Assessments 5% • TBA

    Midterm Exam One 30% • Week 7 or 8

    Case Study One 20% • TBA

    • Week 16
    Final exam One 40% (30/05/2024; 08:30- 10:30)
    (Comprehensive)
    Total 100%

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    Auditing and Assurance Services
    Seventeenth Edition, Global Edition

    Chapter 1

    The Demand for


    Audit and Other
    Assurance Services
    WEEK 1

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    Learning Objectives
    1.1 Describe auditing
    1.2 Distinguish between auditing and accounting
    1.3 Explain the importance of auditing in reducing information risk
    1.4 List the causes of information risk, and explain how this risk
    can be reduced
    1.5 Describe assurance services and distinguish audit services
    from other assurance and nonassurance services provided
    by CPAs
    1.6 Differentiate the three main types of audits
    1.7 Identify the primary types of auditors
    1.8 Describe the requirements for becoming a CPA

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    Learning Objective 1.1

    Describe auditing

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    Nature of Auditing

    • Auditing is:

    – The accumulation and evaluation of evidence about


    information to determine and report on the degree of
    correspondence between the information and
    established criteria.

    – Performed by a competent, independent person.

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    Nature of Auditing

    • The definition of auditing includes the following key


    words and phrases:

    – Information and established criteria

    – Accumulating and evaluating evidence

    – Competent, independent person

    – Reporting
    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.
    Learning Objective 1.2

    Distinguish between auditing and


    accounting

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.


    Distinguish Between Auditing and
    Accounting

    • Accounting is the recording, classifying,


    and summarizing of economic events in a
    logical manner for the purpose of providing
    financial information for decision making.

    • Auditors focus on determining whether


    recorded information properly reflects the
    economic events that occurred during the
    accounting period.
    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.
    Differences Between Accountancy and Auditing

    Copyright © 2020 Pearson Education Ltd. All Rights Reserved.

    You might also like