Course Number/Code: AEC 54

Course Name/Title: Auditing and Assurance: Concepts and Application 1

Course Description

This course is an application of the auditing concept and develop the necessary audit skills.
Students will be This course is a detailed application of the auditing procedure of auditing financial
statement accounts.

Specific Learning Outcomes Topic

Outline
(Enabling Outcomes)

To achieve the learning outcomes, the students are
expected to:
1. Understand the risk areas for cash accounts
2. Understand the necessary procedures to address
the risks identified
3. Identify appropriate and suffocate audit procedures
to the given audit risks on cash accounts
To achieve the learning outcomes, the students are
expected to:
1. Understand the risk areas for sale and receivables
accounts
2. Understand the necessary procedures to address
the risks identified
3. Identify appropriate and suffocate audit
procedures to the given audit risks on sales and
receivables accounts
To achieve the learning outcomes, the students are
expected to:
1. Understand the risk areas for purchases and
payables accounts
2. Understand the necessary procedures to
address the risks identified
3. Identify appropriate and suffocate audit
procedures to the given audit risks on
purchases and payables accounts
To achieve the learning outcomes, the students are
expected to:
1. Understand the risk areas for inventories accounts
2. Understand the necessary procedures to address
the risks identified
3. Identify appropriate and suffocate audit
procedures to the given audit risks on inventories
accounts
1. Audit for Cash
1.1 Assertions and audit objectives for
Cash
1.2 Audit for Cash in bank accounts
1.3 Audit for Cash on Hand accounts
1.4 Other procedures for Cash accounts
**PRELIM EXAM**
2. Audit for Sales and Receivables
2.1 Assertions and audit objectives for Sales
and Receivables
2.2 Audit for Sales accounts
2.3 Audit for Receivable accounts
2.4 Other procedures for Sales and
Receivable accounts
**MIDTERM EXAM**
3. Audit for Purchases and Payables
3.1 Assertions and audit objective for
Purchases and Payables
3.2 Audit for Purchases accounts
3.3 Audit for Payable accounts
3.4 Other procedures for Purchases and
Payable accounts
**SEMI-FINALS EXAM**
4. Audit for Inventories
4.1 Assertions and audit objectives for
Inventories
4.2 Test of control for inventories
4.3 Substantive procedures for inventories
** FINAL EXAM**