Summary AUE2601 - Auditing Theory And Practice STUDY GUIDE .
8 views 0 purchase
Course
AUE2601 - Auditing Theory And Practice (AUE2601)
Institution
University Of South Africa
AUE2601 - Auditing Theory And Practice STUDY GUIDE . LEARNING UNIT 1.2: ASSURANCE AND NON-ASSURANCE
ENGAGEMENTS
Introduction
Clients can engage auditors to perform various services. These services can be classified
as assurance and non-assurance engagements.
In this study unit, auditing theory...
Printed and published by the
University of South Africa
Muckleneuk, Pretoria
AUE2601/1/2018
70616175
,Contents
TOPIC 1: INTRODUCTION TO AUDITING .......................................................... 1
LEARNING UNIT 1.1: THE AUDITOR .................................................................... 3
LEARNING UNIT 1.2: ASSURANCE AND NON-ASSURANCE
ENGAGEMENTS ................................................................. 9
LEARNING UNIT 1.3: AUDITING POSTULATES ................................................. 18
LEARNING UNIT 1.4: THE ACCOUNTING PROFESSION .................................. 20
LEARNING UNIT 1.5: THE FINANCIAL STATEMENT AUDIT
ENGAGEMENT ................................................................. 24
TOPIC 2: REGULATION OF THE AUDITOR .................................................... 31
LEARNING UNIT 2.1: THE AUDITING PROFESSION ACT 26 OF 2005
(APA) ............................................................................... 34
LEARNING UNIT 2.2: THE COMPANIES ACT 71 OF 2008 (THE AUDITOR) ... 44
LEARNING UNIT 2.3: ETHICAL PRINCIPLES REGULATING THE
PROFESSION ................................................................. 48
LEARNING UNIT 2.4: QUALITY CONTROL OF AUDIT WORK ......................... 70
TOPIC 3: GENERAL PRINCIPLES OF ASSURANCE ENGAGEMENTS ......... 73
LEARNING UNIT 3.1: ASSURANCE ENGAGEMENTS ..................................... 75
LEARNING UNIT 3.2: INTERNAL CONTROL .................................................... 78
LEARNING UNIT 3.3: AUDIT EVIDENCE .......................................................... 89
LEARNING UNIT 3.4: RISK ASSESSMENT AND AUDIT PROCEDURES ...... 100
LEARNING UNIT 3.5: MATERIALITY ............................................................... 111
LEARNING UNIT 3.6: AUDIT RISK .................................................................. 116
LEARNING UNIT 3.7: AUDIT DOCUMENTATION ........................................... 122
LEARNING UNIT 3.8: ASSURANCE REPORTS .............................................. 124
TOPIC 4: THE AUDIT PROCESS .................................................................... 127
LEARNING UNIT 4.1: STAGES OF THE AUDIT PROCESS ............................ 129
LEARNING UNIT 4.2: THE PRELIMINARY ENGAGEMENT STAGE............... 131
LEARNING UNIT 4.3: THE PLANNING STAGE ............................................... 135
LEARNING UNIT 4.4: PUTTING THE AUDIT STRATEGY AND PLAN INTO
ACTION ......................................................................... 140
LEARNING UNIT 4.5: THE EVALUATING, CONCLUDING AND REPORTING
STAGE .......................................................................... 145
TOPIC 5: ENGAGEMENTS TO REVIEW HISTORICAL FINANCIAL
STATEMENTS ................................................................................. 151
LEARNING UNIT 5.1: THE AUDITING PRINCIPLES WITH REGARD TO
REVIEW ENGAGEMENTS............................................ 153
iii | P a g e
, LEARNING UNIT 5.2: PRELIMINARY ENGAGEMENT ACTIVITIES ............... 157
LEARNING UNIT 5.3: PERFORMING THE ENGAGEMENT ............................ 159
LEARNING UNIT 5.4: CONCLUSION AND REPORTING ................................ 163
iv | P a g e
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Tutorexpert01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.50. You're not tied to anything after your purchase.