Diploma on
Auditing: Audit & Assurance
A clear explanation of what auditors do and what audits are for, how audits should be planned, what is done, what they seek to achieve, and what an auditor’s report covers.
The Program provides a thorough introduction to auditing, what an audit is, why auditors are needed, who they report to, and the difference between what people think auditors do and what they actually do. It describes the legal framework of auditors and company directors, and their responsibilities. The Program explains how to plan audits and assess audit risk, how to document client’s financial systems and internal controls, conduct testing, and gather reliable audit evidence including of assets, liabilities and equity. Finally, the Program covers audit analysis, and the matters which affect the final audit report which auditors produce.
This is a brand new Program for 2025 and is being offered with a 20% reduction from normal the Fee up until 31st March 2025. The reduced fee is shown opposite, for example a single payment of £160 or US$320 or Euro 240 instead of the normal Diploma Fee of £200 or US$400 or Euro 300.
ALSO:
(1) Anybody enrolling for this Programme will also be enrolled FREE for a Course on Strategy, Quality & Contemporary Business Concerns; the only requirement is that you provide your personal email address to the College on enrolment.
- Summary of major topics
- What is included
- Related courses
- Study & Career development
Module 1 - The Purpose of Audits, Auditors & Auditing
- What an audit is, and why audits are needed
- Who needs to be audited, and who can conduct an audit
- Corporate governance, the Board of Directors, the appointment of auditors
- The expectation gap; what auditors actually do versus what the public think they do
Module 2 - Auditing: the Legal Framework
- The responsibility of directors for financial records and financial statements
- Auditors’ responsibilities to shareholders and third parties, auditors and fraud
- Law and the limits of auditors’ liability
- International standards on auditing
Module 3 - Quality Control and Internal Audit
- Quality control procedures
- The role of internal audit
- Professional audit ethics: standards, integrity, competence, confidentiality
- Dealing with clients’ staff, skills needed
Module 4 - Planning Audit Assignments, Processes, Risks
- Knowledge of the business client
- Planning the audit and the audit process
- Assessing audit and business risk
- Materiality, qualitative and quantitative aspects
Module 5 - Documenting Financial Systems, Internal Controls & Activities
- Documenting client’s financial systems
- Internal controls
- Control activities and procedures
- Limitations on internal controls and questionnaires
Module 6 - Audit Testing of Financial Systems: Audit Plans, Programmes and Risks
- The principle of substance over form
- Creating the audit plan, audit evidence
- Audit documentation and the audit programme
- Risk-based and systems-based approaches
Module 7 - Audit Testing of Financial Systems: Testing, Sampling, Review
- Audit testing, substantive testing
- Audit sampling, selecting transactions to test
- Analytical review procedures
- Audit working papers, documenting the evidence gathered
Module 8 - Evidence and Auditing Accounting Systems: Sufficient & Quality Evidence
- Audit evidence, sufficiency and appropriateness
- Gathering audit evidence
- Quality of audit evidence
- Testing systems components - the stages in the accounting process
Module 9 - Evidence and Auditing Accounting Systems: Purchases, Revenue, Payroll
- Auditing purchases and purchase systems
- Auditing revenue and revenue systems
- Auditing payroll and payroll systems
- Auditing in a computerised environment
Module 10 - Verification of Assets & Liabilities
- Non-current assets, tangible and intangible assets
- Inventory and work in progress, stock counts and valuation
- Receivables, bank balances, cash balances
- Liabilities and equity, share capital and reserves
Module 11 - Audit Completion & Audit Reporting: Adjustments, Business Factors, Final Review
- Dealing with subsequent events after the year end, audit adjustments for errors and omissions
- Assessing if a business is a going concern, unusual and non-routine transactions
- Management representations confirming audit evidence they have provided
- Final analytical procedures, overall review and comparison with previous years
Module 12 - Audit Completion & Audit ReportingLegislation, Auditors’ Reports
- Compliance review with legislation and ISAs
- Auditors’ reports to shareholders
- Modified auditors’ reports, reports with qualifications
- Reporting to management by the auditors
Your CIC Fee includes:-
- Your enrolment/registration with Cambridge International College, and your own high-quality, professionally produced and illustrated comprehensive Study Publication.
- A detailed, professional ‘Study & Training Guide’ with full instructions on how to study to achieve success and gain top results. The Guide includes detailed advice on how to answer Tests and Examinations.
- ‘Past Papers/Questions’.
- The Final Examination sat under Invigilation/Supervision in your own area - full details, guidance and explanation of how your Examination will be arranged and how Invigilation is conducted will be provided when you register. Note, CIC arranges Examinations in over a hundred countries worldwide for thousands of Members every year; it is a flexible, straightforward process and will be arranged when YOU are ready to write your Examination.
- The prestigious Cambridge International College Diploma on successful completion of your Study & Training and on passing the Final Examination.
- Your personal page on CIC’s Member Services website with access to results, despatch details, advice and guidance, and more: www.cambridgeinternationalcollege.co.uk
- Regular information and news including: Newsletters with details of special offers and new Programs and much more; and Competition Forms; by email and post.
Everything needed for your Study & Training success is included in the CIC Fee.
Additionally:
- Further Study and Training Advice, and Assistance is available before, during and after CIC Study & Training; Members may ask CIC’s team of experienced Consultants for advice on further study and Programmes to improve career prospects and advancement.
- CIC’s experienced and helpful staff can assist with numerous special requests, such as reference/recommendation letters and transcripts, and more, by post and email.
The Program is ideal for any and all personnel - including audit, accounting, finance, internal control officers - who are involved in work or careers involving audit, accounting, finance, and business generally; it is also valuable to managers, directors, businesspeople and others whose companies are audited and which are required to provide final accounts and financial statements.
It is also a Program which starts from the basics and builds up to provide a thorough and easy-to-understand comprehension of the subject. It is therefore ideal for both experienced audit-based personnel and those with some experience in the fields of audit, accounting and finance, and those wishing to start on this career path or who are aiming to gain promotion and knowledge.
There is a wide range of options for further study - see the "Related Courses" section for suggestions - which include Honours Diplomas, ABA & Baccalaureate Programmes, and the 'Double Award' EBA & BBA Bachelor degree Programme. You are welcome to ask the College for advice, and of course you can see details of these Programmes on this website.
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Payment Options:
Duration & Assessments
The Study Period is one year (12 months) but this is flexible; the Diploma can be completed in a shorter period, or you can take longer if necessary.
READ MORE »To gain your Diploma you need to sit and pass an Examination (which is based entirely upon the contents of the Study Materials provided to you in your Program Fee). Full and clear details about preparing for and sitting the Exam are provided to you, including in your Study & Training Guide, when you enrol. The clear information explains when, where and how your Examination will be arranged - it is a simple and straightforward process, which hundreds of thousands of other Members have successfully gone through. If you study well and follow the advice in the CIC Study & Training Guide you should be able to achieve high marks and good grades - and obtain your prestigious International Diploma!
(See the College Prospectus or Enrolment Forms, or the “Frequently Asked Questions” section on the “Contact Us” page of this website, or simply ask us, if you would like more information.)
Result
An international accredited qualification for professional development and career success showing you have substantial auditing understanding and knowledge.