Week |
Subject |
Related Preparation |
1) |
• Course content
• Basic concepts of Financial Reporting and Auditing
|
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205
|
2) |
• Introduction to Financial Reporting
• The regulatory framework
• The IASB conceptual framework |
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205 |
3) |
• IAS 1 - Presentation of Financial Statements;
• IAS 21 – The effects of changes in foreign exchange rates.
|
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205 |
4) |
• Property, plant and equipment, and Impairment of assets
• IAS 16 - Property, Plant and Equipment;
• IAS 36 - Impairment of Assets. |
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapters 5 and 7 |
5) |
• Inventories
• IAS 2 – Inventories |
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 10 |
6) |
• Revenue from contracts with customers
• IAS 18 – Revenue vs. IFRS 15 - Revenue from contracts with customers
|
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 13 |
7) |
• Provisions and events after the reporting period
• IAS 37 - Contingent Liabilities and Assets;
• IAS 10 - Events after the reporting period |
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 12 |
8) |
• Accounting policies, accounting estimates and errors
• IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors
|
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 4 |
9) |
• The Audit Market and Ethics for Professional Accountants
• Demand and Supply; Audit Regulation; Audit Quality; Ethics for Professional Accountants: IFAC’s code of ethics for accountants
|
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205
|
10) |
• Client Acceptance
• Evaluate the Client’s Background; Ability to Meet Ethical and Specific Competence Requirements; Use of Other Professionals in the Audit; Communicating With the Predecessor (Existing) Auditor; Acceptance by the Client – The Engagement Proposal; The Audit Engagement Letter |
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205
|
11) |
• Understanding the Entity, Risk Assessment and Materiality
• Planning, Phase II of the Audit Process Model; Understanding the Entity and its Environment; Based on the Evidence, Assess Risk; Types of Risk, Planning Materiality |
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205
|
12) |
• Internal Control and Control Risk
• Internal Control Defined, The Importance of Internal Control, Components of Internal Control, Control Environment, Risk Assessment, Information Systems, Communication, and Related Business Processes, Control Activities (Control Procedures), Monitoring of Controls, Design of Internal Controls
• Control Risk, Audit Planning and Test of Controls
• Understanding, Assessing and Testing Internal Controls, Understanding of Internal Controls and Documentation, Assessing Control Risk, Overall Responses to Assessed Risk, Prepare Planning Memorandum and Audit Plan, Tests of Controls
|
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205 |
13) |
• Substantive Testing and Evidence
• The Basis of Evidence; Sufficient Appropriate Audit Evidence; Substantive Audit Procedures; Audit Procedures for Obtaining Audit Evidence; Audit Sampling and Other Selective Testing Procedures
• Audit of Acquisition and Expenditure Cycle
|
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205 |
14) |
• Review of the semester
• Project presentations
|
. |
15) |
Final Exam |
Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson.
Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill
ISBN10: 126036920X, ISBN13: 9781260369205
|