Handbook

This course examines the practice of auditing, the underlying concepts, auditors’ responsibilities and the audit environment. Although the focus of attention is on audits carried out under the provisions of the Corporations Law, reference is also made to other assurance and related non-assurance services. The course is intended to provide an overview of the audit process as it exists in Australia and internationally. Focus is on both the conduct of the audit (as an auditor) and interaction with the audit function (as a member of the business community). Topics include: risk based auditing approach; assessment of risk; development of audit strategy; internal control evaluation and compliance testing; substantive testing; analytical review; auditing in an information technology environment; audit sampling; audit reporting; contractual and common law duties; the critical role of ethics; and an introduction to other assurance and related non-assurance services.