ACC3022H - Auditing IH

Introduction

It is the aim of the Department of Accounting to produce a first class educated accounting graduate who at the end of his/her years of study will inter alia possess the necessary skills to prepare him/her for entry into the accounting profession.

The Auditing I course covers most of the auditing issues contained in the syllabus for Part 1 of the examination for entrance into the accountancy profession.

On successful completion of the Auditing I course the student will have an understanding of the principles and rationale of auditing and the ability to solve basic practical problems.

More specifically, the Auditing student should be able:

• To explain and apply the principles of accounting systems and internal controls in relation to the evaluation of such systems.

• To explain the principles and concepts underlying the audit function.

• To explain and debate the role of the auditor
  - in society, past, present and future
  - in relation to other disciplines

• To explain, apply and evaluate matters relating to the professional environment.

• To identify the problems and apply the relevant principles and concepts underlying the audit function.

• With respect to the law relevant to the auditor, to demonstrate

• - an understanding of the overall perspective
  - an ability to comprehend certain detailed provisions of the law
  - an ability to identify the problems and apply the relevant provisions.

• Demonstrate sound logic and written communication skills.

University studies will enable the student to learn a great deal about auditing. However, being an auditor requires not only a good theoretical background but also sound practical training and experience. It is not possible to be "taught" or "trained" to deal with every auditing situation to be encountered. Although, in practice, many problems are routine and their solutions can be "learned", there are also many unique "once-off" problems where a solution can only be "thought out". Because of this, an underlying objective of this course will be the development of a systematic and logical approach to solving basic auditing problems.

The Knowledge and Skills Successful Students are expected to acquire as a Result of Taking this Course

Candidates should be able to demonstrate that they:

• Have a sound technical knowledge of the curriculum

• Have an ability to apply this technical knowledge in an analytical and practical manner

• Are able to extract the knowledge required to solve multiple topic problems

• Can identify information relevant to a particular problem by distinguishing the relevant from the irrelevant in a given body of data

• Are able, in multi-problem situations, to identify the problems and rank them in order in which they need to be addressed

• Appreciate that there can be alternative solutions and understand the role of judgement in dealing with these

• Have an ability to integrate diverse areas of knowledge ad skills

• Can communicate effectively to the user by formulating realistic recommendations in a concise and logical fashion

• Have knowledge of the ethical requirements of the profession.