AAA Learning outcomes

 

U1 Key Learning Outcomes1. Apply International Auditing Standards and National Generally Accepted Auditing Standards and applicable laws and regulations to an audit assignment.Activity 1.1 (20 minutes)
Activity 1.2 (60 minutes)
Activity 1.2 (20 minutes)W.E. 1.1 (20 minutes)
2 Hours +
2. Explain current issues in assurance and auditing and the impact these will have on clients and professional practice.
U2 Key Learning Outcomes1. Apply International Auditing Standards and National Generally Accepted Auditing Standards and applicable laws and regulations to an audit assignment.Activity 2.1 (30 minutes)

Activity 2.2 (30 minutes)

Activity 2.3 (20 minutes) – click to download AAA notes

W.E. 2.1 (30 minutes)

W.E. 2.2 (30 minutes)

2.5 Hours+
2. Plan, perform and complete the audit of historical financial statements.
3. Explain current issues in assurance and auditing and the impact these will have on clients and professional practice.
U3 Key Learning Outcomes1. Plan, perform and complete the audit of historical financial statementsActivity 3.1 (30 minutes) 
Activity 3.2 (30 minutes)
Activity 3.3 (20 minutes)
Activity 3.4 (20 minutes)
Activity 3.5 (20 minutes)
W.E. 3.1 (30 minutes)
2.5 hours +
2. Apply international Auditing Standards or national generally accepted Auditing Standards
and applicable laws and regulations to an audit assignment.
U4 Key Learning Outcomes

 

1. Plan, perform and complete the audit of historical financial statements.W.E. 4.1 (30 minutes)
W.E. 4.2 (30 minutes)
W.E. 4.3 (30 minutes)
W.E. 4.4 (30 minutes)
W.E. 4.5 (30 minutes)
Activity 4.1 (40 minutes)
Activity 4.2 (40 minutes)
Activity 4.3 (40 minutes) 
Activity 4.4 (40 minutes)
5 Hours +
2. Apply international Auditing Standards or national generally accepted Auditing Standards
and applicable laws and regulations to an audit assignment.
U5 Key Learning Outcomes-Materiality
-Materiality throughout the audit process
-Levels of Materiality
-Overall materiality
-Materiality Benchmarks
– Performance materiality
-Specific materiality
– Audit Strategy
– Audit program
-Determining the audit approach
Activity 5.1 (30 minutes)
Activity 5.2 (30 minutes)
Activity 5.3 (35 minutes)
W.E. 5.1 (30 minutes)
W.E. 5.2 (30 minutes)
W.E. 5.3 (60 minutes)
3.5 Hours +
U6 Key Learning Outcomes

 

– What are tests of control?
-Nature of tests controls
-Using data analytics in designing tests of controls
-Timing of tests of controls
-Selecting which controls to test
-Selecting how many items to test
-Audit sampling in testing controls
-Factors influencing sample size-tests of controls
Impact of GITCs on testing controls
-Performing tests of controls
-Evaluating the results of controls testing
-ADR >TDR/ADR<TDR
Determining the impact of control deficiencies on the audit
-Communicating deficiencies in internal control and control recommendations
-Performing audit procedures – information located at the user entity
-Performing audit procedures – information located at the service organisation
Activity 6.1 (30 minutes)
Activity 6.2 (30 minutes)
Activity 6.3 (20 minutes)
W.E. 6.1 (25 minutes)
W.E. 6.2 (35 minutes)
W.E. 6.3 (25 minutes)
W.E. 6.4 (40 minutes)
W.E. 6.5 (35 minutes)
4 Hours+
U7 Key Learning Outcomes

 

What are substantive procedures?
– Substantive analytical procedures
– Designing tests of details
– Performing tests of details
– Evaluating the results of tests of details
– Audit areas that may require special audit consideration
Activity 7.1 (30 minutes)
Activity 7.2 (30 minutes)
Activity 7.3 (20 minutes)
Activity 7.4 (30 minutes)
Activity 7.5 (30 minutes)
W.E. 7.1 (40 minutes)
W.E. 7.2 (30 minutes)
W.E. 7.3 (30 minutes)
W.E. 7.4 (60 minutes)
5 Hours+

 

U8 Key Learning Outcomes

 

Group engagements
– Group auditor’s responsibilities
– Understanding the group, its components and their environments
– Consolidation process
– Materiality
– Significant components
– Determine the Type of Work Performed
– Non-significant components
– Understanding the component auditors
– Group audit instructions
– Findings from component auditors
– Communication with group management and those charged with governance
– Evaluate impact of findings on group and form group audit opinion
– Component auditor’s additional considerations for local statutory audit purposes
– Internal audit
– Using the work of internal audit
– Assessing whether, and to what extent, an external auditor can use the work of
internal audit
– Evaluating internal audit
– Using the work of internal audit
– Using the work of an expert
– Evaluating the adequacy of the work performed by an expert
Activity 8.1 (30 minutes)
Activity 8.2 (45 minutes)
Activity 8.3 (30 minutes)
Activity 8.4 (30 minutes)
W.E. 8.1 (30 minutes)
W.E. 8.2 (20 minutes)
4 Hours+

 

U9 Key Learning Outcomes

 

Auditor’s responsibilities relating to subsequent events
– Evaluating audit evidence
– Final analytical procedures
– Reviewing financial statements
– Comparative information
– Auditor’s responsibilities relating to other information
– Auditor’s response when a material inconsistency or material misstatement exists
– Evaluating misstatements
– Types of misstatements
– Accumulation of misstatements
– Evaluating the materiality of uncorrected misstatements
– Misstatements from prior financial periods
– Communicating misstatements
– Written representations
– Communicating with those charged with governance
– Finalisation of audit documentation
Activity 9.1
Activity 9.2 (30 minutes)
Activity 9.3 (30 minutes)
Activity 9.4 (40 minutes)
Activity 7.5 (30 minutes)
W.E. 9.1 (30 minutes)
W.E. 9.2 (60 minutes)
5 Hours+

 

U10 Key Learning Outcomes

 

– Audit opinions
– Types of audit opinions
– Material and pervasive effects
– Auditor’s report
– Form and content of an unmodified auditor’s report
– Form and content of a modified auditor’s report
– Emphasis of Matter (EOM) paragraph
– Other Matter (OM) paragraph
– Initial audit engagements reporting implications
– Key Audit Matters
– Implications of going concern considerations for the auditor’s report
– Impact of other information on the auditor’s report
Activity 10.1 (60 minutes)
Activity 10.2 (20 minutes)
Activity 10.3 (20 minutes)
W.E. 10.1 (30 minutes)
W.E. 10.2 (30 minutes)
W.E. 10.3 (20 minutes)
4 Hours+

 

U11 Key Learning Outcomes

 

– Determine Which Standards to Apply
Audits in the Public Sector
– Audit planning and performance
– Reporting
– Review Engagements
– Using the work from a review engagement for a year end audit
Activity 11.1 (30 minutes)
Activity 11.2 (30 minutes)
Activity 10.3 (20 minutes)
W.E. 11.1 (45 minutes)
W.E. 11.2 (30 minutes)
4 Hours+
U12 Key Learning Outcomes

 

– Conducting Other Assurance Engagement
Assurance procedures performed in other assurance engagements
– Assurance on sustainability reports
– Prospective financial information
– Assurance engagements on controls
– Reporting on controls at a service organisation
– Responsibilities of the service auditor
– Compliance engagements
– Determining the scope of the compliance engagement
– Subject matter and criteria
– Planning and performing compliance engagements
– Evaluating evidence and the materiality of matters of non compliance
– Forming a conclusion/opinion and reporting
– Performance engagements in the public sector
– Performance principles
– Criteria used in a performance engagement
– Agreed upon procedures engagements
Activity 12.1 (20 minutes)
Activity 12.2 (20 minutes)
Activity 12.3 (20 minutes)
Activity 12.4 (20 minutes)
Activity 12.5 (40 minutes)
W.E. 12.1 (20 minutes)
W.E. 12.2 (20 minutes)
3 Hours+