Description
A candidate who passes this CPA paper should be able to:
- Describe the nature and purpose of auditing
- Describe the regulatory framework governing the external audit of financial statements, including an understanding of International Standards of Auditing where appropriate and Professional Ethics and codes of conduct
- Describe the rights, duties and professional obligations of an auditor
- Explain the process of planning an audit and the necessity for an appropriate audit programme taking into account audit evidence and audit risk (excluding group accounts)
- Explain the risk based approach to audit of limited companies; describe the audit evidence required in specified situations
- Describe the audit work required at the final review and report stage of an audit
- Explain the role of internal audit.
