Audit and Assurance

About this Paper

Audit and Assurance focuses on the process of carrying out external audits and other assurance engagements. It covers the principles of professional ethics, audit planning, risk assessment, and gathering sufficient, appropriate audit evidence. The goal is to develop the essential knowledge of the audit process and its regulatory environment, enabling candidates to understand and evaluate the various stages of an audit from appointment to the final report.

Demo Lectures

What You'll Learn (Curriculum)

The purpose, scope, and regulatory framework of audit and assurance engagements.
Ethics, professional conduct, and quality control in an assurance context.
How to plan an audit, including identifying and assessing the risks of material misstatement.
The purpose and evaluation of internal controls and the application of audit procedures.
How to review the financial statements and formulate the final audit report.

Course Index

14 chapters • 29h 43m

Faculty Intro
00:15:49
Introduction to Audit
00:28:47

Audit and Assurance
00:51:26
Audit and Assurance - Review Engagements
00:13:29

Governing Aspects of Audit
00:29:19

3_1 Corporate Governance
00:32:08
3_2 Corporate Governance
00:14:59
3_3 Corporate Governance
00:42:44
3_4 Corporate Governance - Audit Committee
00:30:14

4_1 Ethics and threats with safeguards
00:38:12
4_2 Audit Acceptance and Engagement
00:27:38

5_1 Audit Risk
00:45:47
5_2 Materiality - ISA 320
00:20:42
5_3 Risk Assessment Procedures - ISA 315
00:40:15

6.1 Quality Control
00:36:27
6.2 ISA 240 - Fraud
00:47:50
6.3 ISA 250 - Laws and Regulations
00:24:40
6.4 - ISA 230 - Audit Documentation
00:30:45
6.5 Audit plan and strategy and types of audit
00:13:22

7.1 Audit Evidence
00:44:16
7.2 ISA 620 - Auditors Expert
00:24:47
7.3 Using work of internal Auditor
00:25:20
7.4 ISA 402 -Service Organization
00:23:43
7.5 ISA 530 -Audit Sampling
00:25:52
7.6 CAAT
00:21:30
7.7 Data Analytics
00:38:25

8.1 Internal Controls
00:21:20
8.2 Components of IC
00:52:45
8.3 IC Evaluation
00:43:41
8.4 Sales System
00:55:23
8.5 Purchase System
00:52:54
8.6 Payroll Systems
00:31:45
8.7 Cash and Inventory Systems
00:40:13

9.1 Internal Audit
00:55:56

10.1 Introduction to Audit Procedures
00:38:14
10.2 Summary of Procedures
00:29:20
10.3 Assets - AP
00:50:40
10.4 Inventory - AP
00:53:08
10.5.1 Liabilities
00:46:34
10.5.2 Equity and Directors Remuneration
00:19:01
10.6 Profit and Loss
00:21:39
10.7 Accounting Estimates and Smaller Entities
00:20:46
10.8 Not for Profit Entities
00:21:07

11.1 Completion and review - Subsequent Events
00:44:25
11.2 ISA 570 - Going Concern
00:56:00
11.3 Overall review of the financial statements
00:07:57
11.4 ISA 450 Evaluation of Misstatements Identifie
00:10:16
11.5 ISA 580 - Written Representations
00:20:53

12.1 Introduction to Audit Report
00:33:54
12.2 Audit Report and Unmodified Opinion
00:33:57
12.3 ISA 701 - Key Audit Matter Paragraph
00:17:18
12.4 Unmodified opinion with add Paragraph
00:22:36
12.5 Modified Opinion
00:34:12
12.6 Going Concern Implications
00:09:13
12.7 Reporting to those charged with governance
00:15:00

13. Summary of Auditing Standards
00:34:30

Meet Your Tutor

Sai Manikanta Pedamallu

CMA (US), ACCA (UK), CSCA (US), Dip IFRS, AFA (UK), MIPA (Aus), M.Com, M.B.A

Sai Manikanta Pedamallu is a highly-rated ACCA Tutor, CMA US Instructor, and Dip IFRS Trainer with over a decade of experience in finance and education. He holds extensive qualifications, including Qualified ACCA (UK), CMA (US), CSCA (US), and Dip IFRS. In the corporate world, he serves as an ERP Product Manager and Finance Controller. Known for his dynamic teaching and practical insights, he empowers students to excel in global finance qualifications and consistently receives high student ratings.

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