AFW3941

South African auditing B ( 6 points, SCA Band 2, 0.125 EFTSL)

Leader:

Offered:
South Africa First semester 2005 (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: On completion of this subject students will be able to: 1)Understand the audit process from planning to the completion of the audit. 2)Understand the going concern concept and subsequent events. 3)Understand and apply sampling techniques. 4)Understand and assess risk. 5)Understand internal control and audit procedures. 6)Apply control and substantive testing to the following business cycles: i)Receipts and revenue ii)Payments and expenditure iii)Production and conversion iv)Cash transactions v)Investments

Assessment: Assignment (2000 words), 10%; Mid-semester test 20%; Examination (3 hours): 70%

Contact Hours: One 2-hour lecture and one 1-hour tutorial

Prerequisites: AFW2041