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Fundamentals of Auditing - ACC311 - VU Video Lectures
5755 Views
What is an Audit? , Why is there a need for an audit? , Relationship between auditing and accounting, Financial Reporting Standards (IFRSs), Who can be an auditor?
2165 Views
Auditor’s report, Types of audit, Financial statement of audits, Operational audits, Compliance audits.
1546 Views
Advantages and disadvantages of auditing, Stages of auditing, Features of auditing profession.
1476 Views
Objective of an Audit, General Principles of an Audit, International Standards on Auditing (ISAs), International Auditing Practice Statements (IAPSs), SCOPE OF AN AUDIT, Audit-Evidence
Audit Risk and Materiality.
1389 Views
What is reasonable assurance?, Reasonable assurance through audit evidence
AUDIT RISK AND MATERIALITY, Responsibility for the Financial Statements.
1253 Views
Audit Requirement, Appointment, Duties, Rights and Liabilities of Auditor, Remuneration of Auditors, Procedure for Change of Subsequent Auditors/ Removal of Auditors / Appointment of New
Auditors, Change of Auditors, Checklist, Removal of Auditors, Qualification & Disqualification of Auditors.
1202 Views
Powers/Rights of an Auditor,Duties of an Auditor,Reading and Inspection of Auditors,Signature & Date On Auditors,Audit of Cost Accounts,Auditors’ Liabilities.
1207 Views
Auditors’ Liabilities,Civil Liabilities,Duty of care under contract Law,Breach of
contract,Tort action of negligence,Jeb Fasteners v Marks Bloom (1980),How to minimize the
liabilities.
1276 Views
Books of Account to be Kept by Company,Accounting Cycle,Voucher,Books of Original
Entry,Books of Secondary Entry,Financial Statement,Recording of Transactions from Source
Documents,Source Documents,Recording in the Books,JOURNAL,Subdivision of Journal,SALES
JOURNAL,Supporting Document,Purchase Order Reference No,Trade Discount,SettlementTerms,
Entering the Transaction of Credit Sales in Sale Journal,Purchase Journal,Need for a Purchase Journal,Supporting Document,Entering the Transaction of Credit,Purchases in Purchase Journal,
SalesReturnJournal(ReturnsInwardJournal), Supporting documents,Purchase return journal(Returns outward journal),Supporting document,Entering Transactions in Purchases Return Journal,Cash Book.
1149 Views
Books of Account to be kept by Company,Annual Accounts and Balance Sheet,Contents of Balance
Sheet,Balance Sheet,Statement of changes in equity,Treatment of Surplus Arising on Revaluation
of Fixed Assets,Director’s Report,Balance Sheet of Holding Companies,Consolidated Financial
Statements,Authentication of Balance Sheet,Additional Statement of Accounts and Reports,
Auditor’s interest in the statutory books.
1243 Views
Risk Assessment Procedures & Sources of Information(Inquiries of management and others within the entity,Analytical procedures and Observation and inspection),Discussion among the Audit Team.
1184 Views
Understanding the Entity and Its Environment, including Its Internal,Control,Business Operations,Investments,Financing,Financial Reporting.
1186 Views
RECAP, Sources of Obtaining Understanding,Risk Assessment Procedures & Sources of InInformation,Understanding the Entity and Its Environment, Including Its Internal Control,Objectives and Strategies and Related Business Risks,Business Risk is the risk that objectives and strategies would not be met.
1133 Views
Measurement and Review of the Entity’s Financial Performance,Internal Control,Definition of internal control,Components of internal control.
1533 Views
Components of Internal Control(The control environment,The entity’s risk assessment process
The information system, including the related business processes relevant to financial
reporting and communication,Control activities,Monitoring of controls),Assessing the Risk of Material Misstatement,Significant Risks that require Special Audit Considerations,Revision of Risk Assessment.
1287 Views
Documenting The Internal Control System, Auditor’s Work On The Internal Control, Categories of Internal Control, Flowchart Of Purchase.
1180 Views
Use of the major symbols in flow charts, Internal Control Questionnaire.
1143 Views
Internal Control Questionnaire, Construction of an ICQ, Internal Control Evaluation Checklists.
1146 Views
Audit Tests, Audit Evidence Through Audit Procedures, Considering The Nature, Timing And Extent Of Audit Procedures, Extent Of Tests Of Controls.
1175 Views
Substantive Procedures, Types of Substantive Procedures, Nature of Substantive Procedures, Timing of Substantive Procedures, Audit Procedures for obtaining Audit Evidence.
1146 Views
Audit Evidence, Sufficient Appropriate Audit Evidence, Audit Procedures For Obtaining Audit Evidence.
1218 Views
Sufficient Appropriate Audit Evidence And Testing The Sales System, Audit Procedures For Obtaining Audit Evidence, Testing The Sales System, Control Procedures Over Sales And Debtors.
1082 Views
Testing The Purchases System, Control Procedures Over Purchases And Payables.
1254 Views
Testing The Purchases System, Control Objectives.
1113 Views
Testing The Payroll System, Control Procedures - Wages And Salaries, Tests of Controls - Wages and Salaries.
1061 Views
Testing The Cash System, Controls Over Cash Receipts By Post, Controls Over Cash Sales.
1086 Views
Testing The Cash System, Controls over Cheque Payments, Controls over Petty Cash.
1390 Views
Testing Other Systems, Control Procedures over Inventory.
1132 Views
Testing The Non-Current Assets, Control Procedures over Non Current Assets, Tests Of Controls.
1084 Views
Verification Approach Of Audit, Audit Verification Techniques, Assertions In Obtaining Audit Evidence, The Timing of Audit Procedures, Substantive Procedures.
1044 Views
Verification Of Assets, Verification Methods, Existence and Ownership.
1045 Views
Letter Of Representation Verification Of Liabilities, Example Of A Letter Of Representation.
1127 Views
Verification Of Equity, Movement In Share Capital Is Properly Authorized And Correctly Shown And Described In Accordance With The Companies Ordinance, 1984.
1045 Views
Verification Of Bank Balances, Letter Of Confirmation From Bank, Standard Request For Bank Report For Audit Purposes. Verification of Debtors Balances, Methods Of Obtaining Debtors Confirmation.
1096 Views
Verification Of Stock-In-Trade And Store & Spares, Verification Of Certain Expenses Items.
1107 Views
Audit Sampling, Approaches To Audit Sampling, Audit Materiality And Risk.
1095 Views
Statistical Sampling, Sample Selection Methods.
1005 Views
Considering The Work Of Internal Auditing, Scope And Objectives, Liaison And Coordination.
1143 Views
Audit Planning, Audit Engagement Letter, Terms Of Audit Engagements, Example Of An Audit Engagement Letter.
1054 Views
Planning An Audit Of Financial Statements, The Audit Plan, Changes to Planning Decisions during the Course of the Audit.
1314 Views
Audits Of Small Entities, Additional Considerations In Initial Audit Engagements, Examples Of Matters The Auditor.
1030 Views
Auditor’s Report On A Complete Set Of General Purpose Financialstatements, Forming an Opinion on the Financial Statements, Elements Of The Auditor’s Report, Auditor’s Responsibility.
1186 Views
Modified Auditor’s Report, Modifications To The Auditor’s Report.
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