AUE2601 Summary
Notes With Assignments
1&2 (Sem 1&2 2022)
AUE2601 Auditing Theory And Practice
,
,Contents
TOPIC PAGE
PREFACE OVERVIEW OF THE MODULE V
TOPIC 1 INTRODUCTION TO AUDITING 1
TOPIC 2 REGULATION OF THE AUDITOR 31
TOPIC 3 GENERAL PRINCIPLES OF ASSURANCE ENGAGEMENTS 65
TOPIC 4 THE AUDIT PROCESS 107
BIBLIOGRAPHY 127
AUE2601/1/2012 iii
, Pref ace
1 Welcome
Dear Student
It is with great pleasure that we welcome you to AUE2601: Auditing Theory and
Practice. Please take the time to familiarise yourself with this preface and refer
back to it as often as you need to since it will certainly make studying this module
a lot easier.
The preface outlines the purpose of this module, links to other auditing modules,
our teaching strategy and useful hints that will help you to experience a more posi-
tive learning experience.
We trust that you will enjoy your semester studying for this module and that after
working through the study material you will develop a keen interest in the field of
auditing.
2 Purpose of the module
This module is intended for trainee accountants and auditors or such individuals
in related fields, for example, people who are interested in qualifying as char-
tered accountants or registered auditors, to enable them to develop the necessary
basic competencies. The purpose of this module is to provide you with knowledge
and skills in auditing theory and practice, which includes basic auditing concepts,
statutory requirements, guidelines and auditing standards.
Students credited with this module will know the basic auditing concepts, will be
able to apply their knowledge of the role, duties and responsibilities of the regis-
tered auditor as well as apply the International Standards on Auditing in the statu-
tory audit of an ordinary company trading in goods and services.
3 Link to other modules
It will be clear to you from this overview that this introductory module is the basis
for a range of further Auditing modules. The purpose of and learning outcomes for
this module are therefore aimed at developing your expertise and abilities in the
field of auditing.
A brief outline of the Auditing 200, 300 and 400 modules offered by the Depart-
ment of Auditing is provided below.
Auditing 200
AUE2601: Auditing theory and practice
The purpose was discussed under point 2 above.
AUE2601/1 v
Notes With Assignments
1&2 (Sem 1&2 2022)
AUE2601 Auditing Theory And Practice
,
,Contents
TOPIC PAGE
PREFACE OVERVIEW OF THE MODULE V
TOPIC 1 INTRODUCTION TO AUDITING 1
TOPIC 2 REGULATION OF THE AUDITOR 31
TOPIC 3 GENERAL PRINCIPLES OF ASSURANCE ENGAGEMENTS 65
TOPIC 4 THE AUDIT PROCESS 107
BIBLIOGRAPHY 127
AUE2601/1/2012 iii
, Pref ace
1 Welcome
Dear Student
It is with great pleasure that we welcome you to AUE2601: Auditing Theory and
Practice. Please take the time to familiarise yourself with this preface and refer
back to it as often as you need to since it will certainly make studying this module
a lot easier.
The preface outlines the purpose of this module, links to other auditing modules,
our teaching strategy and useful hints that will help you to experience a more posi-
tive learning experience.
We trust that you will enjoy your semester studying for this module and that after
working through the study material you will develop a keen interest in the field of
auditing.
2 Purpose of the module
This module is intended for trainee accountants and auditors or such individuals
in related fields, for example, people who are interested in qualifying as char-
tered accountants or registered auditors, to enable them to develop the necessary
basic competencies. The purpose of this module is to provide you with knowledge
and skills in auditing theory and practice, which includes basic auditing concepts,
statutory requirements, guidelines and auditing standards.
Students credited with this module will know the basic auditing concepts, will be
able to apply their knowledge of the role, duties and responsibilities of the regis-
tered auditor as well as apply the International Standards on Auditing in the statu-
tory audit of an ordinary company trading in goods and services.
3 Link to other modules
It will be clear to you from this overview that this introductory module is the basis
for a range of further Auditing modules. The purpose of and learning outcomes for
this module are therefore aimed at developing your expertise and abilities in the
field of auditing.
A brief outline of the Auditing 200, 300 and 400 modules offered by the Depart-
ment of Auditing is provided below.
Auditing 200
AUE2601: Auditing theory and practice
The purpose was discussed under point 2 above.
AUE2601/1 v
