This unit is about internal and external auditing and related processes. It
is about being able to identify and assess control objectives, select samples
and tests and drawing conclusions. This unit requires your work to be supervised.
You are required to obtain 2 of the 3 elements
| Element objective |
Example activities to demonstrate competence |
|
17.1 Contribute to the planning of an audit assignment
This is about planning an audit of an accounting system.
|
- Gathering relevant background information
- Identifying control objectives and assessing risks
- Identifying control weaknesses
- Checking and verifying of accounting balances
- Deciding upon and devising appropriate tests
- Making suggestions for the audit plan.
|
|
17.2 Contribute to the conduct of an audit assignment
This is about audit testing and establishing facts.
|
- Conducting audit tests according to requirements
- Evaluating the existence, completeness, ownership, valuation and
description of assets and/or liabilities
- Identifying any unusual items or issues and reporting them to the
audit supervisor
- Recording information accurately
- Conducting discussions with staff operating the system in an appropriate
manner
- Following confidentiality and security procedures.
|
| 17.3 Prepare related draft reports
This is about producing draft audit reports.
|
- Preparing draft audit reports
- Providing conclusions and evidence to support draft audit reports
- Making appropriate and relevant recommendations
- Discussing and agreeing preliminary findings, conclusions and recommendations
with the audit supervisor.
|
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