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International Standards on Auditing

507421 - International Standards on Auditing
Faculty

Faculty of Business

Department

International Accounting and Finance

Credit Hours

3

Pre-requisite

507332

Co-requisite

-

Distribution

3+0
This course is a continuation of Auditing and Forensic Accounting. Therefore, it focuses on Planning and fieldwork aspects of auditing in conjunction with the International Standards on Auditing. In particular, it illustrates different stages of audit planning and materiality requirements (ISA 300) and material misstatements (ISA 315). It focuses on different types of risks (inherent risk, control risk, planned risk, and accepted audit risk) (ISA 330) and audit sampling (530). Further, this course illustrates audit documentation requirements (ISA 230). In addition, this course illustrates internal controls frameworks and auditor's responsibilities for evaluating and reporting on internal control. Besides, this course illustrates the application of such requirements on a selected transaction cycle for example test of controls and substantive tests related to sales and collection cycle. Finally, this course illustrates the requirements of forming an auditor's opinion (ISA 700).