GREAT ZIMBABWE UNIVERSITY

FACULTY OF COMMERCE
DEPARTMENT OF ACCOUNTING AND INFORMATION SYSTEMS
COURSE CODE: HACC423/HSPAC422 COURSE TITLE: ADVANCED AUDITING THEORY
AND PRACTICE
Mrs S Zhou 0779306304 (whatsup) email szhou @gzu.ac.zw

1 Aim
To provide knowledge and practice of auditing .It aims at impacting knowledge of auditing
theory,process and the compilation, presentation and reporting of the findings of the audit.
2. Objectives
 What is auditing
 Why the need for auditing
 Purpose of auditing standards
 Evalution of systems and risks
 To understand and carry out audit planning
 To analyses and evaluate audit evidence
 How to carry out an audit and prepare an audit report.
COURSE OUTLINE
1. WHAT IS AUDITING =REVISION.
The Need for auditing

2. AUDIT ETHICS AND REGULATIONS= (REVISION)

3. PLANNING
Audit Risk & materiality
Benefits of adequate planning
Planning the control over the audit
Difficulties of planning audits
4. Assessing internal Control Systems
Definition of internal controls
Elements of internal controls
Test of controls
Report on controls

5. AUDIT EVIDENCE
Nature of audit evidence
Reliability of audit evidence
Working papers
Reliance on the work of a third party/specialists.
Audit Sampling- Statistical and judgmental sampling methods
CAATS and other engagement techniques
5 Assessing internal Control Systems
Definition of internal controls
Types of internal controls
Internal audit
Test of controls
6 Finalisation and review
Quality control
Supervision ontrol
Management Representations &Management letter of representation.
Subsequent Events (Post Balance Events)
Going concern

7 AUDITORS’ REPORTS
What is an audit report
 Types of audit reports
Curent developments on the Audit’s Reports (long auditor’s report).

RECOMMENDED TEXTS
1.Millichamp A.H. Auditing Letts Educational,
2.Millichamp, A.H. Auditing: An Instruction Manual for Accounting Students, DP Publications.
3. Puttick G and Van Esch S. The Principles and Practice of Auditing, Juta & Co.
4. ACCA Paper F8 Audit and Assurance ( International) 2010 ,BPP Learning Media
5. ACCA Paper F8 audit and Assurance ( International) 2011, Kaplan Publishing UK.
STUDENTS ASSESSMENT
Students shall be assessed at the end of the semester through coursework and final examination.
COURSEWORK
Written assignments and group presentations shall be given to students, contributing 25% to the final
mark.
EXAMINATION
An examination to be marked out of 100 shall be administered at the end of the semester. It will contribute
75% to the final mark.
Format of the exam paper
A 3hr paper based exam consisting of 4 or 5 compulsory questions. The bulk questions are discursive but
some questions involving computational elements will be set from time to time.
Questions will cover all areas of the syllabus. The questions are both scenario and knowledge.
DURATION OF THE COURSE
The course will cover a period of 36 hours.