Audit Theory and Practice

Course Coordinator: Mau Chi Fat, BBA (Hons) HKBU; MA (CurtinU, Australia); HKICPA; FCCA; ICAEW; CPA (USA)

Course Developer: Charles Fung, Consultant

Advisory prerequisite(s)
You are advised to have already studied ACT B861 or ACT B825.

Aims
The course aims to introduce learners to the fundamentals of auditing and the complex auditing environment. This includes key auditing concepts and principles involved in external auditing, from the planning stage through to the reporting stage.

Contents
This course covers the following topics:

• An overview of the auditing function and auditors’ ethical and legal environment 
• The audit process
• Corporate governance, enterprise risk management and internal controls
• Audit evidence and audit procedures
• Communication with shareholders and TCWG and other assurance services

Learning support
There will be four three-hour tutorials and one six-hour day school.

Assessment
There are two assignments and one examination. Students must use word processing software (such as Microsoft Word) to prepare the assignments, and submit the assignments via the Online Learning Environment (OLE).

Equipment
Students will need access to a personal computer with an Internet connection.

Set book(s)
There are no set books for this course.

Reference book(s)
Lau, P T Y and Lam, N C Y (2021) Auditing & Assurance in Hong Kong, 6th edn, Pilot Publishing Co. Ltd.

Elder, R J, Beasley, M S, Hogan, C E and Arens, A (2020) Auditing and Assurance Services, Global Edition, 17th edition, Pearson (Intl).