AUE3761 | Audit Planning, Tests of Control, Substantive Procedures & Finalising an Audit

The AUE3761 course basically covers the full audit process. We go back to the same principles of the audit process that you studied in AUE2601, and then go into extra detail and teach you how to analyse more complex situations, so you will be able to apply the principles you have already learned to case studies.

There is a big section on evidence. It’s one topic, but it’s a BIG one, with lots of sub-sections. It teaches you what you can and can’t use as ‘proof’ for your audit opinion, and how to obtain it. There are quite a few ISA (International Standards of Auditing) chapters in there, so students tend to memorise these, but we spend some time explaining them so that you understand them and can easily work with them in questions.

After you’ve gathered your evidence, you need to go through it all and assess whether you have enough (evaluation of evidence) and make a conclusion about what this evidence tells you about the financial statements (i.e. your audit opinion).

Our lectures and exam technique videos are aimed at helping you with your understanding of this module and how to communicate your point, to help you get through this module, and prepare you for CTA. We’ve gone through two past exams, showing you how to read, plan and answer your questions.

TOPICS

• Pre-engagement activities
• Risk and audit planning
• Obtaining audit evidence
• Internal control and the business cycles
• Tests of control (manual and computerised)
• Your knowledge of controls (general, application and cycles) are assumed knowledge from second year. We’ve added these topics into Audit 3X for you as well, in case you need revision or a better understanding
• Substantive procedures: our 'party trick'
• The international standards on auditing relating to evidence (The 500 and 600 series)
• Formulating substantive procedures (including CAATs)
• Analytical procedures
• Auditing the cycles (All the business cycles)
• Evaluating misstatements
• Concluding on audit evidence (including related parties, subsequent events and going concern
• Audit reporting

PLEASE NOTE: THIS COURSE IS DESIGNED TO SUPPORT 2024 ONLY. PURCHASE WILL GIVE YOU ACCESS TO THIS COURSE UNTIL THE OCTOBER/NOVEMBER EXAMINATIONS HAVE BEEN WRITTEN.