Offered

South Africa First semester 2008 (Day)

Synopsis

A review of the audit process from planning to the completion of the audit, including the going concern concept and subsequent events. Sampling. Risks, internal controls, audit procedures, both control and substantive tests performed on the following business cycles: receipts and revenue, payments and expenditure, production and conversion, cash transactions and the investment cycle.

Objectives

The learning objectives of this unit are to:

• describe the audit process from planning to completion;
• apply sampling techniques and other testing procedures;
• assess risk;
• evaluate internal control and audit procedures;
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with auditing.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

One 2-hour lecture and one 1-hour tutorial

Prerequisites

AFW2041