Faculty Economic and Management Sciences

Home Department Accounting

Module Topic Internal Auditing
Generic Module Name Internal Auditing 242
Alpha -numeric Code AUD242
NQF Level 6
NQF Credit Value 10
Duration Semester
Proposed semester to be Second Semester
offered
Programmes in which B Com Financial Accounting (1175)
module will be offered B Com (1008)
Year Level 2
Main Outcomes On completion of this module students should be able to:
● Explain the flow of the internal audit process.
● Explain basic theory relating to control and performance
evaluation, e.g. the purpose of controls and the types of
controls.
● Explain the theory relating to audit engagement tools,
statistics and quantitative methods, focusing on the
application of sampling.
● Explain the steps to be followed during the planning phase of
the internal audit engagement.
● Explain the steps to be followed when drafting an audit
report, including follow-up actions.
● Apply the above theory to scenario-type questions.
● Explain sound corporate governance practices, and apply
corporate governance theory to scenario-type questions.
● Explain the interaction between an organisation’s financial
accounting function, internal audit function and external
auditors.
● Explain the internal auditor’s duties regarding the
organisation’s regulatory and legal compliance.
Main Content ● The internal audit process and documentation
● Control and performance evaluation
● Audit engagement tools, statistics and quantitative methods
● Engagement planning
● Audit reporting and follow-up
● Corporate governance
● The internal audit function and financial accounting and
finance
● The legal and regulatory environment
● Auditing in a computerised environment
● General and application controls
● CAATS
Pre-requisite modules AUD241
Co-requisite modules None
Prohibited module AUD236
Combinations
Breakdown of Learning Hours Timetable Other teaching modes
Time Requirement per that does not require
week time-table
Contact with lecturer / tutor: 42 Lectures p.w. 3
Assignments & tasks: 18 Practicals p.w. 0
Practical’s: 0 Tutorials p.w. 0
Assessment: 5
Self-study: 35
Other: Please specify 0
Total Learning Time 100
Methods of Student Continuous Assessment (CA): 50%
Assessment Final Assessment (FA): 50%
Assessment Module type Continuous and Final Assessment (CFA)