The module provides students with the necessary knowledge to prepare the final audit and assurance reviews and reports. It introduces the nature, purpose of assurance engagements, including the statutory audit, its regulatory environment, and introduces governance and professional ethics relating to audit and assurance.
It then leads into planning the audit and performing risk assessment. The module proceeds to auditing of financial statements. These include, evaluating internal controls, audit evidence, and a review of the financial statements. In addition to final review procedures, the final section concentrates on reporting, including the form and content of the independent auditor’s report.