Postgraduate Diploma in Professional Accounting

AUDITING AND PROFESSIONAL PRACTICE

Teaching Plan

Course Objectives:
This module aims to provide students with an understanding of the concepts and techniques of
provision of audit services for exercising judgment, enable students to explain the objectives,
benefits and limitations of audit engagements, give students an understanding of the audit
planning, obtaining and evaluating evidence, completing and reporting on the audit
assignment, and to provide students with an understanding of internal controls and their
limitations.

Learning Outcomes:
On completion of the module, students should be able to:
1. apply knowledge of regulatory and ethical considerations governing the conduct of audit
engagements;
2. explain objectives, principal characteristics and limitations of audit engagements;
3. identify issues involved in planning, obtaining and evaluating evidence, and the
completion stage of an audit engagement;
4. identify and conduct the work required to meet the objectives of audit engagements;
5. evaluate critically the findings and results of work performed and draft suitable reports.

Teaching Plan:
2023 Session
Topic
(Thursday)
1 Auditors’ professional ethics and conducts, their responsibilities to
(Sep 14) different stakeholders
2 Audit functions, legal and professional issues including corporate
(Sep 21) governance and audit committee
3 Quality control, audit planning, audit of small business
(Sep 28)
4 Audit engagement, Audit risk
(Oct 5)
5 Audit engagement – assessment on accounting systems and internal
(Oct 12) controls, audit documentation, audit procedures
6 Audit evidence, analytical review, audit of trade cycles

1
 2023 Session
Topic
(Thursday)
(Oct 19)
7 Mid-term test (Closed book 1.5 hours) and lecture
(Oct 26) Audit of trade cycles, asset and liabilities
8 Audit of trade cycles, asset and liabilities
(Nov 2)
9 Audit of trade cycles, asset and liabilities
(Nov 9)
10 Evaluation of audit result, finalization of audit and audit reports
(Nov 16)
11 Use of computer information systems in audit, audit related services, other
(Nov 23) assurance engagements, management representation, management letter,
internal audit, subsequent events
12 Course overall review and examination revision
(Nov 30)
13 Presentation (Group Assignment)
(Dec 7)
Dec 14,  FINAL EXAM (Open book 3 hours)
7:00PM

Textbook:
LAU, P. T. Y. and Nelson LAM. 2021, Auditing and Assurance in Hong Kong. 6th edition. Pilot
Publishing Company Ltd.

Assessment:
1. Group Project & Presentation 20%
2. Mid-term Test (1.5 hours; Closed book) 20%
3. Final examination (3 hours; Open book) 60%
100%