IAF826 week 1 - IAF826 IAF826 Advanced Auditing Learning...

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IAF826 IAF826 Advanced Auditing Advanced Auditing
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Learning Outcomes IAF826 builds on knowledge from IAF520 and IAF610 External audit and other assurance services (reviews, compiliations) Accountant’s roles, responsibilities and ethics Audit of public sector, not-for-profit, small business (differentiated reporting/ Private business GAAP/ CAS (IFRS for auditing) Current and future issues in auditing
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Reference Materials Auditing: An International Approach; McGraw- Hill Ryerson; 5/e; W. Smieliauskas, K. Bewley. Other (do not have to purchase these) Readings package containing articles published by CICA, CGA Canada and ACCA CICA Handbook – Accounting and Assurance Handbooks ICAO Member’s Handbook
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Evaluation Mid-Term Test 30% Assignments 30% Final Examination 40% Total 100%
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Weekly Topics Topic 1: Introduction to the role of auditors in a changing society and the standard setting process Topic 2: Strategic systems audits Quality Assurance and risk management in the public accounting practice Topic 3: Engagement Risk Assessment and Earnings Management Topic 4: Auditing Management Estimates, Fair Value and Capitalization Topic 5: Auditing Complex revenue Transactions Topic 6: Going Concern, Related Parties and Audit Completion Topic 7: Internal Control Assessment and Corporate Governance Topic 8: Comprehensive Auditing, including audit of public sector, and internal auditing Topic 9: Attest and non-audit engagements Topic 10: Other Engagements (Prospectuses, Annual Reports, IPOs, FOFI, Interim Financial Statements) Topic 11: Professional issues - Corporate governance, role on internal auditors, current issues in auditing
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Standards Board The Canadian Auditing and Assurance Board (AASB) is the body with the authority to develop and establish standards and guidance governing auditing and assurance in Canada. The AASB has adopted International Standards on Auditing (ISA), with minimal modification, as Canadian Auditing Standards (CASs) . ISAs are set by the International Auditing and Assurance Standards Board (IAASB) . CASs came into effect for periods ending on or after December 15, 2009. The AASB will continue to be responsible for the adoption of ISAs as CASs, and for standard setting in areas other than audits of historical financial information, and for the parts of the CICA Handbook/Assurance providing standards for other assurance services such as reviews of financial statements and other information, and related services such as compilation engagements and engagements to perform agreed-upon auditing procedures. www.aasb.ca
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IAF826 week 1 - IAF826 IAF826 Advanced Auditing Learning...

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