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Audit 1 Course Outlines

The document outlines the course 'Auditing Principles and Practice I' (ACFN 4021) offered at Ayer Tena Health Science and Business College, which consists of 3 credit hours. It details the course objectives, including understanding auditing's nature, types, and significance, as well as familiarizing students with professional standards and internal control assessments. The course includes a comprehensive outline covering various auditing topics, assessment methods, and recommended textbooks and reference materials.

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19 views4 pages

Audit 1 Course Outlines

The document outlines the course 'Auditing Principles and Practice I' (ACFN 4021) offered at Ayer Tena Health Science and Business College, which consists of 3 credit hours. It details the course objectives, including understanding auditing's nature, types, and significance, as well as familiarizing students with professional standards and internal control assessments. The course includes a comprehensive outline covering various auditing topics, assessment methods, and recommended textbooks and reference materials.

Uploaded by

yeshetu873
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Ayer Tena Health Science and Business college

Course Identification:

Course Title: Auditing principles and practice I


Course Code: ACFN 4021
Credit Hours: 3
Prerequisite:

Course Objectives: At the end of the course students will be able to:
 Understand the nature, types, and utility [to the society] of Auditing.
 Be acquainted with the underlying professional standards that Public Accounting
employs and the primary legal concepts and terms therein.
 Comprehend the significance of internal control assessment in the planning and
conducting of an audit.
 Distinguish the different types of Audit Reports and the variety of circumstances
and conditions where one is more appropriate than the others
 Be familiar with the working of the auditing profession in Ethiopia
Course Outline
CHAPTER 1 An Overview of Auditing
1.1 Definition and Nature of Auditing
1.2 Accounting vs. Auditing
1.3 Type of Audit and Auditors
1.4 Economics of Auditing
Chapter 2The Auditing Profession
2.1. Generally accepted auditing
standards 2.1.1.General standards
Ayer Tena Health Science and Business college

2.1.2. Standards of
Filed Work
2.1.3.Standards of
Reporting
2.2. Professional Ethics
2.3 Legal responsibility and Liability
Chapter 3 Planning and Conducting the Audit
3.1. Reasons for Audit planning
3.2. Planning procedures
3.3. Designing of Audit program
3.4. Audit working paper
3.5. Audit risk
3.7 Materiality
Chapter 4 Internal Control
4.1. Meaning of Internal Control
4.2. Internal Control and Internal Audit
4.3. Control Environment
4.4. Risk Assessment
4.5. Control Activities
4.6. Limitation of Internal Control
4.6 The Auditor's Consideration of internal control

Chapter 5 Audit Evidence


5.1. The relationship of evidence to audit risk
5.2. Financial statement assertions
5.3. Sufficient competent evidential matter
5.4. Types of audit evidence
Evidence about accounting estimates
Chapter 6 Audit Reports
6.1. Introduction
6.2. Types of audit reports
6.3 Contents of audit reports
Chapter 7 Auditing and Auditors in Ethiopia
Ayer Tena Health Science and Business college

Text Book:
1. Arens, R. J. Elder, and M. S. Beasley, Auditing and Assurance Services 14th. Prentice-
Hall, Inc.,2005.
2. Moduel

Reference Materials:
1. Johannes kinfu and Engida Bayou(2009), Auditing introduction to principles
and Practices, kuraz international publishing enterprise, AdissAbaba
2. Jack C. Crown, Aduting, Richard D, Irwin,Inc.,
3. HErmanson, Strawser&Straswer, Auditing Theory and Practice,USA
4. Varsha Ainapure, Mukund Ainapure (2009), Auditing and Assurance Second edition,
PHL learning Pl ,NewDelhi
5. Arens, R. J. Elder, and M. S. Beasley, Auditing and Assurance Services 10th. Prentice-
Hall, Inc.,2005.

Mode of assessment
Tests and quiz 20%
Assignment 30%
Final exam 50%
Ayer Tena Health Science and Business college

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