SYLLABUS Introduction To Auditing And Assurance Services .
UNIVERSITAS INDONESIAFACULTY OF ECONOMICS AND BUSINESSDEPARTEMENT OF ACCOUNTINGUNDERGRADUATE PROGRAMSYLLABUSIntroduction to Auditing and Assurance Services (AUDITING 1)ECAU604104ODD SEMESTER 2019/2020LecturersDr. Aria Farah Mita S.E., M.S.MDr. Soemarso Slamet Rahardjo S.E., M.E.Aria Kanaka S.E., M.Ak.Mawar Inviolata Rohana Napitupulu S.E., MBA.Dudi Hadi Santoso S.E., M.Ak.Dr. Ludovicus Sensi W. S.E., M.M.Dr. Soemarso Slamet Rahardjo S.E., M.E.Ahmadi Hadibroto S.E., M.Sc.Agung Nugroho Soedibyo S.E., M.Ak.Dr. Eliza Fatima S.E., M.E., CPA.Subject CodeSubject TitleCredit ValueYearPre-requisiteRole and PurposesSubject LearningOutcomeEmail ail.com /ariakanaka@gmail.commawar.r.napitupulu@gmail.com /dudihadisantoso@yahoo.comlwondabio@gmail.com edibyo@gmail.com /elisa fatima@yahoo.comECAU604104Auditing 133Financial Accounting 1Financial Accounting 2This course is a part of Auditing and Assurance Services class which consistsof Auditing and Assurance-Introduction (Auditing 1) and Auditing andAssurance-Intermediate (Auditing 2). This course is designed to provide anintroduction to auditing and assurance services.Level of Proficiency in Auditing 1: FoundationUpon completion of the subject, student will be able to:I. Technical Competence: audit & assuranceUpon completion of the subject, student will be able to:(T1) able to describe the objectives and stages involved in performing anaudit of financial statements(T2) able to apply relevant auditing standards and applicable laws andregulations to an audit of financial statements(T3) able to assess the risks of material misstatements in the financialstatements and consider the impact on the audit strategy(T4) able to explain the key elements of assurance engagements andapplicable standards that are relevant to such engagementPage 1 of 5
T1 and T4 will be assessed in Auditing 1; T2 and T3 will be assessed inAuditing 2.II. Professional Skill : Interpersonal and Communication Skillsa. Communicate clearly and concisely when presenting, discussing andreporting in formal and informal situations, both in writing and orallyb. Active listeningIII. Critical Thinkingc. Provide arguments and draw conclusions supported by appropriateevidenceIV. Professional Value, Ethics and Attitude : Ethical Principald. Identify and discuss the fundamental principles of ethics including thethreats to fundamental principles and determine the appropriatesafeguards to offset the threatsSubjectSynopsis/IndicativeSyllabusWeek Specific Learning Outcome Topic123Student should be able to discuss1. the nature and objective of auditing,2. responsibility of auditor and managementregarding financial statements,3. stages of an audit of financial statementsIntroduction to Audit1.1. Nature and objective of auditing1.2. Responsibility of auditor and managementregarding financial statements1.3 Stages of an audit of financial statementsStudent should be able to:4. Distinguish among different theories of auditingservices5. Understand the audit market in Indonesia andinternational6. Identify organizations that affect the externalauditing profession and the nature of their effectsThe Audit Market2.1. Theories on the demand and supply of auditservices2.2. Mandatory audit and voluntary auditStudent should be able to:7. Understand the general definition of assuranceservices8. Identify the assurance and non-assurance servicesnormally performed by auditor9. Describe the five elements exhibited by allassurance engagement10. Understand the difference between audit, reviewand compilationAuditors’ Services3.1. International framework of auditor servicesRequiredReadingMaterialHayes ch 1Theo ch 1Arens ch 1Hayes ch 2Theo ch 2Hayes ch 4Page 2 of 5
4567893.2. Elements of an assurance service3.3. Reasonable assurance versus limited assuranceStudent should be able to:11. Discuss International Standards on Auditing12. Discuss the impact of various statutes andregulations to auditing services13. Discuss professional requirements to becomepublic accountant in IndonesiaAuditing Standards and Regulation4.1 ISA4.2 Statutes and regulations relevant to auditorprofession in IndonesiaStudent should be able to:14. Understand the code of ethics for professionalaccountant15. Discuss the threats to the fundamental ethicalprinciple and determine the safeguardsEthics for Professional Accountant5.1. What are ethics5.2. Code of Ethics for Professional Accountants5.3. Enforcement of ethical environmentsStudent should be able to:16. Explain the components of audit riskAudit Risk Model6.1. Components of audit risk modelStudent should be able to:17. Understand the objective and activity duringpreliminary engagement18. Understand the seven primary procedures involvedin the client acceptance process19. Understand the acceptance of a new client andacceptance by the clientPre-planning Activities - Client Acceptance7.1. The first step on the journey to an opinion7.2. Evaluate the client background7.3. Ability to meet ethical and specific competencerequirementMID-TERM EXAMStudent should be able to:20. Explain why internal controls are important to theauditor21. Understand what an auditor does in preliminaryplanning assessments of internal control risk.22. Characterize the differences between generalcontrol and application IT controlInternal Control and Control Risk8.1. Management control objectives8.2. Control over financial reporting8.3. Control over transaction8.4. IT risk and controlStudent should be able to:IAASBHandbookUU APUU PT No.40/2007PP No.20/2015PP No.84/2012Hayes ch 3Theo ch 3,page 50-54Code ofEthic(2015)IAPI: KodeEtik APRNCLHayes ch 6Arens ch 9Hayes ch 5Hayes ch 7Theo ch 6ISA 315Hayes ch 8Page 3 of 5
1011121323. Explain why analytical procedures are important tothe auditor24. Understand the auditor’s responsibility in term ofthe use analytical procedures25. Comprehend why and how analytical proceduresmay be used at each audit phaseAnalytical Procedures9.1. Relationship among data9.2. Type and timing of analytical procedures9.3. Analytical review process9.4. Analytical procedures as substantive testStudent should be able to:26. State what the general objective is in planning theaudit27. Understand the knowledge of client’s industry andbusiness in order to assess the audit risk28. Understand the definition of materialityMain Audit Concept and Planning10.1 Planning objective and procedures10.2 Understand the entity and its environment10.3 MaterialityStudent should be able to:29. Understand and define management assertions30. Understand the relation between managementassertions, internal control and financial statement31. Distinguish management assertion and auditobjectivesAuditor’s Response to Assessed Risk11.1. Management assertion group11.2. Risk of material misstatement at the assertionlevel11.3. Test of control11.4. Substantive proceduresStudent should be able to:32. Define auditing evidence33. Know the definition of evidence in an audit andlegal sense34. Describe the components of and the meaning of“sufficient & appropriate audit evidence”Audit Evidence12.1. Legal evidence versus audit evidence12.2. Sufficient and appropriate audit evidence12.3. Seven evidence-gathering techniques: inquiry,observation, inspection, reperformance,recalculation, confirmation, and analyticalprocedures.Student should be able to:35. Understand the content and element of theAuditor’s Report36. Distinguish between unmodified opinion andmodified opinionISA 520Hayes ch 6Theo ch8,16ISA 300,315, 320Hayes ch 9ISA 330Hayesch10ISA 500Hayes Ch12ISA700,705Page 4 of 5
Teaching/LearningMethodsIntroduction to Audit Reports13.1. Basic elements of the Auditor’s Report13.2. Types of report expressing audit opinion14Wrap upFINAL EXAMTeaching method uses active lecturing and class discussions, in whichstudents achieve the study objectives by discussing the topics under theguidance of the lecturer. Sessions 1 to 13 start with group presentation andthen continue with discussion led by the lecturerEach student is required to prepare a paper submitted at the mid-termexam. Student should select an ethical case involving auditors in the last 3years, identify the threat(s) in the case and analyze the appropriatesafeguards that should have been applied to reduce the threat(s).In session 14, lecturers may select cases from textbook pertaining to topicscovered in session 8-13 and discuss with students.AssessmentMethodsSpecific assessment methods/tasks %Continuous AssessmentGROUPWeekly paper (10%)Group presentation (10%)INDIVIDUALMid-term Exam (30%)Final Exam (30%)Participation & Discussion (10%)Individual paper (10%)Reading MaterialsIntended Learning Outcometo be AssessedT1 T4 ab cd10020 80 Required Reading:1. Hayes, Wallage, and Gortemaker, Principles of Auditing – an Introductionto International Standards on Auditing, 3rd Edition (2014), PearsonEducation Limited (Hayes)2. Tuanakotta, Theodorus M, Audit Kontemporer, Penerbit Salemba Empat,2015 (Theo)3. Steven Colling, Interpretation and Application of International Standards,John Wiley & Sons, 2011 (Colling)Supplementary Reading:4. Undang Undang Akuntan Publik, 2011 (UU AP)5. Handbook of International Quality Control, Review, Auditing, OtherAssurance, and Related Services Pronouncements, 2016-2017, IAASB(Handbook IAASB)6. Arens, Alvin, Beasley, Elder, Auditing and Assurance services – anintegrated approach. Global Edition. Pearson Education Limited 2014(Arens)7. Responding to Non-Compliance with Laws and Regulations, IESBA, 2016(RNCL)Page 5 of 5
of Auditing and Assurance-Introduction (Auditing 1) and Auditing and Assurance-Intermediate (Auditing 2). This course is designed to provide an introduction to auditing and assurance services. Level of Proficiency in Auditing 1: Foundation Subject Learning Outcome Upon completion of the subj
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SECTION-1 (AUDITING) INTRODUCTION TO AUDITING STRUCTURE: 1.1 Objectives 1.2 Introduction -an overview of auditing 1.3 Origin and evolution 1.4 Definition 1.5 Salient features 1.6 Scope of auditing 1.7 Principles of auditing 1.8 Objects of audit 1.9 Detection and prevention of fraud 1.2 1.10 Concept of " true and fair view"
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