Module Topic Internal Auditing Generic Module Name Internal Auditing 242 Alpha -numeric Code AUD242 NQF Level 6 NQF Credit Value 10 Duration Semester Proposed semester to be Second Semester offered Programmes in which B Com Financial Accounting (1175) module will be offered B Com (1008) Year Level 2 Main Outcomes On completion of this module students should be able to: ● Explain the flow of the internal audit process. ● Explain basic theory relating to control and performance evaluation, e.g. the purpose of controls and the types of controls. ● Explain the theory relating to audit engagement tools, statistics and quantitative methods, focusing on the application of sampling. ● Explain the steps to be followed during the planning phase of the internal audit engagement. ● Explain the steps to be followed when drafting an audit report, including follow-up actions. ● Apply the above theory to scenario-type questions. ● Explain sound corporate governance practices, and apply corporate governance theory to scenario-type questions. ● Explain the interaction between an organisation’s financial accounting function, internal audit function and external auditors. ● Explain the internal auditor’s duties regarding the organisation’s regulatory and legal compliance. Main Content ● The internal audit process and documentation ● Control and performance evaluation ● Audit engagement tools, statistics and quantitative methods ● Engagement planning ● Audit reporting and follow-up ● Corporate governance ● The internal audit function and financial accounting and finance ● The legal and regulatory environment ● Auditing in a computerised environment ● General and application controls ● CAATS Pre-requisite modules AUD241 Co-requisite modules None Prohibited module AUD236 Combinations Breakdown of Learning Hours Timetable Other teaching modes Time Requirement per that does not require week time-table Contact with lecturer / tutor: 42 Lectures p.w. 3 Assignments & tasks: 18 Practicals p.w. 0 Practical’s: 0 Tutorials p.w. 0 Assessment: 5 Self-study: 35 Other: Please specify 0 Total Learning Time 100 Methods of Student Continuous Assessment (CA): 50% Assessment Final Assessment (FA): 50% Assessment Module type Continuous and Final Assessment (CFA)