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Under Statute Liability to Shareholders and Attitudes Liability under Common Law Liability to Third Parties Breach of contract and negligence Elements of Quality of Control and its importance Identify the different types of laws. Explain the auditors’ liability under the Companies Act 1965 and the Common Law. Explain liability to the third party Identify the situation in which the auditors’ might breach of contract. Distinguish the different types of negligence Explain the roe
Identify the elements of quality control and its importance Tutorial 2 Rubrics Audit Risk, Materiality and Sampling Concepts of audit risk and materiality Materiality in accounting and auditing Control risk, inherent risk and detection risk Relationship of materiality and audit risk Standards and guidelines Nan tattle level Ana Oasis Tanat can De us EAI Tort valuing materially Factors influencing determination of materiality Application of audit risk model to audit work Consideration of analytical review procedures Purpose of analytical procedures and application of such procedures in planning Sampling
Introduction and types of sampling Risks in sampling Application of sampling on audit tests Developing the audit plan Identify and describe the concept of risk and materiality Explain what is control risk, inherent risk and detection risk Discuss the relationship of materiality and audit risk Discus the quantitative level and basis that can be used for valuing materiality Identify factors influencing determination of materiality Discuss the application of audit risk model to audit work Identify and explain sampling Tutorial Corporate Governance and External Auditor Fraud And Error Basic Principles of CGI
Importance AT C Outline good CGI requirements relating to directors responsibilities Audit committees/explain structure and role of AC Benefits and drawbacks of audit committee Definition and Characteristic of Fraud and Error Types of Fraud Assess the Risk of Fraud Specific Fraud Risk Factors Cases (Fraud Diamond) Responsibilities of Management and Auditor in relation to fraud and error Reporting Responsibilities Identify the basic principles of CGI and audit committee Discuss the importance of CGI Explain the structure and role of AC Identify the benefits and drawbacks of audit committee Identify types of fraud
Explain assessing the risk of fraud Discuss the fraud risk factors cases Identify the fraud diamond 5 Completing the Audit Compliance with the accounting standards and Companies Act 1965 Consideration of analytical review procedures in performing the overall review of the financial statements Going concern Indicators that the going concern may be in doubt and identifying any mitigating factors Assessment of the appropriateness of the going concern assumption Implication on the auditor’s report where there is doubt about the going concern assumption Post balance sheet events, contingencies and commitments