Auditing

Mode of Delivery

Face to Face

Prerequisites and Co-Requisites

None

Recommended Optional Programme Components

Professional ethics

Course Contents

This course provides students with the knowledge of basic concepts and historical development, accounting and auditing relationship, generally accepted auditing standards, control in the proof and proof of concept acquisition techniques, study of the paper, definition, content, types, filin, audit process, control to obtain business, planning and execution, control in sampling, completion of the audit, audit report.

Weekly Schedule

1) Introduction to course and the reasons for the need for independent audit.
2) The historical evolution of the audit, economic environment and audit. Accounting and audit relationship. Main concepts related to audit. Internal audit, independent audit, and public audit.
3) Generally Accepted Auditing Standards (USA-AICPA) and International Auditing Standards (IFAC) in the USA.
4) 3R approach in audit.
5) Risk concepts. Audit risks: Inherent risk, control risk, and detection risk. Materiality concept. Material mistake: error and fraud.
6) Audit process; to take control of the business, planning and implementation. The concept of audit evidence and evidence gathering techniques. Working paper; definition, content, types of files.
7) Internal control, Coso pyramid, General and specific risks.
8) Midterm examination/Assessment
9) Audit of sales and receivables cycle
10) Employee and payroll cycle
11) Purchase and payment cycle
12) Inventory and production cycle
13) Liabilities and back payment cycle
14) Cash and bank balances cycle, audit of the other account
15) The going concern of the entity. The completion of the audit. Preparation of the audit report. Four types of audit opinion: unqualified, qualified, adverse, and disclaimer
16) Final examination

Recommended or Required Reading

- KGK. Kamu Gözetimi, Muhasebe ve Denetim Standartları Kurumu. Bağımsız Denetim Standartları.https://www.kgk.gov.tr/DynamicContentDetail/4106/TurkiyeDenetimStandartlar%C4%B1

Planned Learning Activities and Teaching Methods

1) Lecture
2) Question-Answer
3) Discussion
4) Group Study
5) Lab / Workshop

Assessment Methods and Criteria

Contribution of Semester Studies to Course Grade	30%
Number Percentage Semester Studies Midterm Examination 1 80% Quiz 1 20%
Contribution of Final Examination to Course Grade	70%
Total	100%

Language of Instruction

Turkish

Work Placement(s)

Not Required