This module introduces students to the theory and practice of auditing. The module commences with the conceptual framework of audit and relates them to real life examples. The module introduces the role and responsibilities of the auditor and the expectations gap, and describes the audit process and how regulatory framework in the UK. The module discusses the nature of audit evidence to enable students to develop skills in making audit judgements, using both Ethical and International Auditing Standards.

By the end of the module students should be able to:

• demonstrate knowledge and understanding of the principles of third party assurance;
• explain and evaluate the audit process;
• critically evaluate the role and responsibilities of the external auditor;
• demonstrate knowledge and understanding of the regulatory framework of auditing in the UK and situations covered by International Auditing Standards;
• analyse the role of ethical standards;
• identify and analyse audit assertions and the principles of collecting and assessing audit evidence.