Undergraduate - UnitAFS2760 - Auditing A

This unit entry is for students who completed this unit in 2013 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

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Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Accounting and Finance
Offered	South Africa First semester 2013 (Day)

Synopsis

This unit introduces auditing covering the responsibilities, functions and qualities of the auditor. The unit reviews the audit process from planning to the completion of the audit and includes the going concern concept; fraud and error; audit evidence; engagement and planning; internal controls and substantive procedures; completion of the audit and special audit investigations. The tests of control and substantive tests performed on the following business cycles are also included: revenue and receipts; acquisitions and payments; inventory and production; payroll and personnel.

Outcomes

The learning objectives associated with this unit are to:

apply the general principles of auditing, the responsibilities, functions and qualities of the auditor and illustrate knowledge of a proper background to auditing in a simulated practical scenario
explain and describe the audit process from planning to the completion of the audit, assess audit risk and determine materiality
describe all the relevant issues regarding the going concern concept and reliance on other parties, and apply this knowledge to various simulated practical situations/in various audits
describe and examine internal controls in the context of external auditing, and apply this knowledge to simulated practical situations and to make recommendations in that regard
apply tests of control and substantive testing to the business cycles
apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with auditing and demonstrate in an individual summative assessment ask the acquisition of a comprehensive understanding of the topics covered in AFS2760.

Assessment

Within semester assessment: 30%
Examination: 70%

Chief examiner(s)

Professor Anton Du Toit

Contact hours

3 hours per week

Prerequisites

Students must have passed AFW1002 or equivalent and BTW1201 before undertaking this unit.

Prohibitions

AFW2041, AFW2760, AFW3941, AFW3942