• Develop advanced knowledge of auditing principles, standards, and practices
• Enhance learners’ ability to plan, execute, and evaluate audit engagements
• Build critical understanding of risk assessment, internal controls, and fraud detection
• Equip learners with professional judgment and ethical decision-making skills
• Prepare learners for professional roles in audit, assurance, and compliance

Upon completion of the course, learners will be able to:

1. Critically evaluate audit frameworks, standards, and regulatory environments
2. Plan and design audit strategies based on risk assessment techniques
3. Assess internal control systems and recommend improvements
4. Apply audit procedures to gather sufficient and appropriate audit evidence
5. Analyse financial statements and detect material misstatements or fraud risks

Module 1: Audit Framework and Regulatory Environment

• Nature, purpose, and scope of auditing and assurance
• International Standards on Auditing (ISAs)
• Roles and responsibilities of auditors
• Legal and professional regulations governing audit
• Corporate governance and audit committees
• Ethical framework (integrity, objectivity, independence)

Module 2: Audit Planning and Risk Assessment

• Audit planning process and audit strategy
• Understanding the entity and its environment
• Risk assessment procedures
• Materiality and audit risk model
• Identification and assessment of significant risks
• Use of analytical procedures in planning

Module 3: Internal Control and Audit Evidence

• Components of internal control systems (COSO framework)
• Evaluation and testing of internal controls
• Control risk and its implications
• Types of audit evidence (documentary, physical, analytical)
• Audit sampling techniques
• Use of technology in auditing (CAATs)

Module 4: Audit Procedures and Completion

• Substantive procedures and tests of details
• Audit of financial statement elements (assets, liabilities, revenue, expenses)
• Related party transactions
• Going concern assessment
• Subsequent events review
• Audit documentation and working papers

Module 5: Audit Reporting, Ethics and Emerging Issues

• Types of audit opinions (unmodified, qualified, adverse, disclaimer)
• Structure of audit reports
• Communication with management and those charged with governance
• Professional ethics and auditor independence
• Fraud and error detection responsibilities
• Emerging issues in auditing (forensic audit, sustainability audit, AI in auditing)

Project