About the subject

You’ll develop knowledge and understanding of the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.


Section A

Audit framework and regulation

Explain the concept of audit and assurance and the functions of audit, corporate governance, including ethics and professional conduct.
Section B

Planning and risk assessment

Demonstrate how the auditor obtains and accepts audit engagements, obtains an understanding of the entity and its environment, assesses the risk of material misstatement (whether arising from fraud or other irregularities) and plans an audit of financial statements
Section C

Internal control

Describe and evaluate internal controls, techniques and audit tests, including IT systems to identify and communicate control risks and their potential consequences, making appropriate recommendations. Describe the scope, role and function of internal audit.
Section D

Audit evidence

Identify and describe the work and evidence obtained by the auditor and others required to meet the objectives of audit engagements and the application of the International Standards on Auditing (ISAs)
Section E

Review and reporting

Explain how consideration of subsequent events and the going concern principle can inform the conclusions from audit work and are reflected in different types of auditor’s report, written representations and the final review and report.

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Lecturer Information

Colm Foley

Colm is a graduate of University College Cork, University of South Wales and is a fellow of Chartered Accountants Ireland. Having trained in practice, Colm went on to hold further roles in industry as a financial accountant. In addition to lecturing ACCA/CPA/ATI students, Colm has also lectured at an undergraduate and postgraduate level on Financial Accounting, Management Accounting and Auditing.

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