The syllabus begins with the scope of assurance engagements, its regulatory environment, and introduces governance and professional ethics relating to audit and assurance.
It covers audit planning and risk assessment, the audit of financial statements including internal controls, and audit evidence. In addition it will focus on reporting, including the form and content of the independent auditor’s report.
Grasp the concept of audit and assurance, the functions of audit, corporate governance, including ethics and professional conduct
Discover how the auditor obtains and accepts audit engagements and gains an understanding of the entity and its environment
Assess the risk of material misstatement
Learn how to plan an audit of financial statements
Evaluate internal controls, techniques and audit tests (including IT)
Identify and communicate control risks and their consequences
Describe the scope, role, and function of internal audit
Identify and describe the work and evidence obtained by the auditor
Grasp the application of the International Standards on Auditing (ISAs)
Explore how analysis of future events and the going concern principle can inform the conclusions from audit work