Professional Documents
Culture Documents
TOPIC OUTLINES
1) Introduction
2) Distinction between auditing and accounting
3) Definition of audit
4) Economic demand for auditing
5) Assurance services
6) Types of audit
7) Types of auditors
(1) Introduction
Client or audit
committee hires
auditor
Auditor
Auditor issues
audit report relied
upon by users to reduce
information risk
Provides capital
External
Users
Client
Client provides financial
statements to users
4
Audit vs Accounting
Accounting
Audit
Competence
Independence
Evaluation of
Evidence
Proper Conclusion
9
Client inquiry
Written and
electronic
Communications
with outsiders
Observations
10
Sarbanes-Oxley Act
Enron
WorldCom
Tyco
Adelphia
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12
Attestation services
-CA
#
#
#
#
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Information
Financial statements
Established
Criteria
Operational Audit
Example
Information
Established
Criteria
Available
Evidence
Operational Audit
Compliance Audit
Example
Information
Company records
Established
Criteria
Available
Evidence
Compliance Audit
Financial statements and
calculations by the auditor
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Homework 1
Instructions :
1.Write an essay of more than 100 words. Please indicate the
number of words at the end of essay.
2.Use handwriting only
3.Please submit on your 1st class
Question
Your essay should contain the following :
1.Why I like to learn accounting
2.What should I do to get an A for Audit
3.Do you want to become an auditor? (Yes/no and give reason
for your answer)
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TUTORIAL WEEK 1
1.
2.
3.
List the parties who will rely upon auditor's report for
decision making?
4.
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TUTORIAL WEEK 1
5.
2.
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