COURSE INFORMATION

Program : AC220 - Bachelor of Accountancy

Course Code : AUD589
Course Name : Auditing I
Level : Bachelors Degree
Part : 4
Course Status : Core
(Core/Non-Core)

At the end of the course, students should be able to:

CLO 1: Apply the relevant statutory, regulatory and requirements from accounting professional bodies in making professional audit
judgement for Malaysian entities. (C3)

CLO 2: Adhere to professional ethics and values in tasks related to concepts, processes and relevant audit procedures. (A4)

CLO 3: Assess the issuance of audit report based on findings from relevant audit procedures for Malaysian entities. (C6)

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SECTION C: LESSON PLAN

WEEK TOPIC / ACTIVITY MATERIALS SHARED E-LEARNING PLATFORMS

Week 1-4 Topic 1 – Introduction to Auditing LECTURES COVERED DURING CLASSESS (BEFORE MCO)
(24/2 – 23/3*) Topic 2 – Audit Regulations

*MCO
(18/3-12/4)
Week 5 Topic 3 - Audit Planning and Fieldwork  PowerPoint - Padlet
(13/4-19/4)  Scope of financial statement audit presentation/video - WhatsApp
o Management assertions  Past test questions - UFuture (i-Learn)
o Transaction-related audit objectives - Google Classroom
o Balance-related audit objectives - Google Meet
 Internal controls - Google Form
o Fundamental concept - YouTube/YouTube
Live
o Importance of internal controls
- Telegram
o Strengths and deficiencies of internal
- Email
controls - Telephone/video
 Audit sampling calls
o Types of sampling - Postal/Courier
o Statistical and non-statistical sampling - i-Class
o Sampling risk and non-sampling risk - Skype
Week 6 Topic 3 – Audit Planning and Fieldwork  PowerPoint - FaceTime
(20/4-26/4)  Audit planning presentation/video - Webex
o Steps in audit planning  Past test questions - Blendspace/
o Knowledge of client’s business and industry  Past year questions Tes.com
o Client acceptance - Socrative
o Preliminary analytical procedures - Mylab (Pearson
o Risk assessment LMS)
o Introduction of audit risk model - Facebook Live
- Kaizala
o Audit program

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  Risk and materiality
o Audit risk model
o Concept of materiality
o Preliminary judgement of materiality
o Materiality and audit risk

#Quiz 1 (Topic 1 and Topic 2)

Week 7 Topic 3 – Audit Planning and Fieldwork  PowerPoint
(27/4-3/5)  Audit evidence and audit procedure presentation/video
o Types of audit evidence  Past test questions
o Quality and adequacy of evidence  Past year questions
o Audit risk and audit evidence
o Audit testing
o Audit procedures used to collect evidences
 Audit documentation
o Importance of audit documentation
o Types of audit files
o Control and rights to audit files
o Confidentiality
o Engagement letter
o Management letter

#Test (Topic 3)

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Week 8 Topic 4 – Audit of Financial Statements  PowerPoint
(4/5-10/5) Cycles presentation/video
 Types of financial statement cycles  Past year questions
o Sales and collection cycle  Sharing of materials from
o Payment and acquisition cycle students group
o Payroll and personnel cycle assignment/presentation
o Inventory and warehousing cycle
 Overview of the classes of transactions and
account balances (including the documents
involved)
Week 9
o Revenue
(11/5-17/5)
o Expenses
o Assets
o Liability
o Capital
 Business function and related documents
 Audit procedures and audit tests
o Major internal controls and related audit
procedures
o Audit testing
 Test of controls
 Analytical procedures
 Substantive test of transactions
 Test of details of balances

#Assessment of group assignment

Week 10 Topic 5 - Audit of Statement of Financial  PowerPoint
(18/5-24/5) Position and Statement of Profit or Loss and presentation/video
Other Comprehensive Income
 Audit procedures for statement of financial
position - account balances and disclosures

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Week 11 o Property, plant and equipment
(4/6-10/6) o Cash and bank balance
o Shareholders’ equity
o Long-term liability
 Audit procedures for statement of profit or loss
and other comprehensive income
o Repair and maintenance expenses
o Travel and entertainment expenses
CUTI KHAS PERAYAAN (25/5 – 3/6)

Week 12 Topic 6 – Independent Auditor’s Report  PowerPoint

(11/6-17/6)  Elements of audit report presentation/video
 Types of audit report  Past year questions
Week 13 o Unmodified audit report
(18/6-24/6) o Modified audit report
o Key audit matters
Week 14 Topic 7 – Contemporary Issues and  Articles from journals
(25/6-1/7) Developments in Auditing  Papers/articles from the
 Professional skepticism Internet
 Professional judgement
 Others technical issues

#Quiz 2 (Topic 7)
PENILAIAN Final revision
BERTERUSAN
(2/7-21/7)
#Final assessment (Topic 4,5,6)