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    ZICA Manual - Syllabus

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    Vainess S Zulu
    This document provides an introduction and syllabus for an advanced auditing course. It outlines the following key points: 1. The course covers the principles and concepts of auditing financial statements in accordance with professional standards and regulations. 2. Students are expected to understand the audit process from planning to risk assessment to evidence collection to reporting. 3. The course also addresses other assurance services like internal auditing and examines current issues in the field. 4. Successful completion of the course will allow students to apply auditing procedures and integrate their knowledge with work experience.

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    ZICA Manual - Syllabus

    Uploaded by

    Vainess S Zulu
    360 views6 pages
    This document provides an introduction and syllabus for an advanced auditing course. It outlines the following key points: 1. The course covers the principles and concepts of auditing financial statements in accordance with professional standards and regulations. 2. Students are expected to understand the audit process from planning to risk assessment to evidence collection to reporting. 3. The course also addresses other assurance services like internal auditing and examines current issues in the field. 4. Successful completion of the course will allow students to apply auditing procedures and integrate their knowledge with work experience.

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    acconts,acca,zica

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    This document provides an introduction and syllabus for an advanced auditing course. It outlines the following key points: 1. The course covers the principles and concepts of auditing financial statements in accordance with professional standards and regulations. 2. Students are expected to understand the audit process from planning to risk assessment to evidence collection to reporting. 3. The course also addresses other assurance services like internal auditing and examines current issues in the field. 4. Successful completion of the course will allow students to apply auditing procedures and integrate their knowledge with work experience.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    360 views6 pages

    ZICA Manual - Syllabus

    Uploaded by

    Vainess S Zulu
    This document provides an introduction and syllabus for an advanced auditing course. It outlines the following key points: 1. The course covers the principles and concepts of auditing financial statements in accordance with professional standards and regulations. 2. Students are expected to understand the audit process from planning to risk assessment to evidence collection to reporting. 3. The course also addresses other assurance services like internal auditing and examines current issues in the field. 4. Successful completion of the course will allow students to apply auditing procedures and integrate their knowledge with work experience.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 6
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    The key takeaways are an introduction to the syllabus and structure of the Advanced Stage auditing paper.

    The purpose of the syllabus is to cover the fundamental principles and concepts of auditing financial statements, including the legal and professional framework governing audits and the audit process.

    The general learning objectives are to demonstrate the ability to carry out audit services, undertake auditing procedures and provide other assurance services, explain the auditor's responsibilities, evaluate quality control policies, and identify and evaluate work performed to submit an appropriate audit report.

    INTRODUCTION

    Contents
    Page

    Syllabus Part A Framework


    1 2 3 4 5 6 Audit and assurance services Rules of professional conduct Changes in professional appointment Professional responsibility and liability Practice management Regulatory environment 3 23 39 61 85 101

    Part B Process
    7 8 9 10 11 Audit planning Audit evidence Audit evaluation and review Internal control and evaluation of control risk Audit of financial statements 129 155 185 225 261

    Part C Other service


    12 13 Internal audit and other assurance engagements Environmental issues 293 341

    Part D Reporting
    14 Reports 351

    Exam question bank Exam answer bank

    ZICA Advanced Stage

    INTRODUCTION

    ZICA Advanced Stage

    ii

    INTRODUCTION

    SYLLABUS
    Purpose:
    This paper covers the fundamental principles and concepts of auditing of financial statements. Students are required to have a good knowledge of the legal and professional framework governing the proper conduct of an audit. In addition, they are expected to have a thorough knowledge of the audit process of evidence accumulation and reporting. This process would ordinarily include planning, assessment of risk and materiality, performance of tests of control and substantive procedures and the final issuance of an auditors report. The paper will also ensure that candidates can exercise judgement and apply techniques in the analysis of matters relating to the provision of audit and assurance services, and can evaluate and comment on current practices and comments. ZICA Advanced Stage iii

    INTRODUCTION

    This paper also covers the principles and procedures relating to other assurance engagements, which include internal audit and other work where opinion is provided to interested parties who have participated in setting the scope of the engagement.

    General Learning Objectives:


    On completion of this paper, the student should be able to: Demonstrate ability to carry out Audit services as required under the Companies Act and Approved International Standards on Auditing. Undertake procedures of auditing and the provision of other forms of assurance services so as to enable them integrate this knowledge with training and work experience. Explain and evaluate the Auditors position in relation to the acceptance and retention of professional appointment. Evaluate and recommend quality control policies and procedures in operations. Identify and confirm the work required to meet the objectives of Audit Assignment. Evaluate findings and results of work performed and submit an appropriate Audit report.

    Position of the Paper in the Overall syllabus:


    Candidates need a thorough understanding of paper 2.4 Auditing, 1.1 Financial Accounting I and 2.1 Financial Accounting II. Knowledge of Management Information Systems will be needed considering its impact on assignments. Paper 3.3 develops further the knowledge gained in paper 2.4 Auditing by extending the basic awareness of professional codes of ethics and fundamental principles to a detailed understanding of rules of professional conduct. Practice management as also been introduced. Procedures involved in planning, conducting and reporting on audit assignments to audit related services and non-audit assignments. Current issues and developments have also been addressed.

    Weights for Exams and Coverage purposes:


    Overview of Audit Framework (5%) Legal and Professional Considerations (10%) Audit Committee and Functions (5%) ZICA Advanced Stage iv

    INTRODUCTION

    Audit Planning (10%) Internal Control and Evaluation of Control Risk (15%) Performance of Audit (15%) Internal Audit and Other Assurance Engagements (15%) Reporting and Communications (15%) New Developments in Auditing (10%)

    LINKAGE OF THE COURSES

    3.1

    Advanced Financial Accounting and Reporting

    3.3 Audit and Assurance 2.1 Financial Accounting II

    1.1

    Financial Accounting I

    2.4 Auditing

    Structure of Examination paper:


    The Examination paper will be a Three (3) hour paper divided into TWO (2) sections; section A and section B. Questions in both sections will be almost entirely discursive. However, students may also be required to do some calculations where need arise for judgement purposes. Section A: This will be based on case study type scenarios, which address a range of topics, issues and requirements. It will comprise of TWO (2) COMPULSORY questions worth TWENTY FIVE (25) marks each. ZICA Advanced Stage v

    INTRODUCTION Section B: In this section, there will be FOUR (4) questions each worth TWENTY FIVE (25) marks each. Candidates are required to attempt any TWO (2) questions. These are likely to be set on specific audit topics such as practice management, audit related services, non-audit assignments and new developments in auditing not examinable in paper 2.4-Advanced auditing. This does not preclude these topics from featuring in section A. they will have less scenario than in section A.

    ZICA Advanced Stage

    vi

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