Advanced Assurance and Attestation (ACC306)

ACC306 examines some of the relevant Singapore Standards on Auditing (SSA) and Statements of Auditing Practice (SSAP). Topics covered include auditing businesses processes; audit and reporting responsibilities; internal, operational, compliance and other assurance services; audit of group accounts; computer information systems audits (CIS) and computer-assisted auditing techniques (CAATS) and audit of E-business.

• Auditing the revenue process
• Auditing the purchase process
• Auditing the inventory management process
• Auditing the human resource management process
• Auditing the financing/investing processes I – Assets
• Auditing the financing/investing processes II – Liabilities and Income Statement Accounts
• Computer information systems audit and computer-assisted auditing techniques
• Completing the audit engagement
• Audit reporting responsibilities
• Audit of group accounts
• System of quality control for audits
• Assurance, related services and internal auditing

• Examine applicable professional pronouncements and other relevant laws and regulations to perform engagement planning, fieldwork, completion and reporting.
• Analyse the risks of material misstatement in the financial statements due to business, regulatory and macroeconomic factors, and assess the impact on the audit strategy.
• Appraise the components of internal control related to financial reporting.
• Apply data extraction and analysis to analyse and evaluate financial and non-financial information.
• Differentiate engagement procedures using quantitative and qualitative methods in accordance with engagement plans.
• Evaluate the appropriateness of accounting policies used to record transactions and prepare financial statements.
• Conclude whether evidence collected is appropriate and sufficient to make informed decisions about the appropriate course of action.
• Distinguish the relevant ethical principles and processes required in different professional scenarios such that independence of mind and appearance, integrity, objectivity or professional scepticism are not compromised.
• Develop the essential knowledge and interpersonal skills to work effectively in a team.
• Demonstrate proficiency in written and verbal communication skills.