Skip to main content

ISL 402 - Auditing

Faculty of Business and Management Sciences · Islamic Economics and Finance · Undergraduate

ECTS: 5 T+P+L: 3+0+0 University Elective
Coordinator: Prof. Dr. Gülçin KAZAN

Course Objective

Auditing, which is an important part of corporate governance and financial reporting process, will be discussed conceptually and the duties and responsibilities of independent auditors, stages of the audit process, and preparation of the audit report will be emphasized.

Course Content

The aim of the course is to help the student understand auditing practices in a theoretical sense by conveying the basic concepts of accounting auditing. The course content includes the auditing profession, auditing standards and types of auditors, auditing techniques, professional ethics and moral values, and preparation of audit reports regarding financial statements.

Required Resources

Auditing & Assurance Services 9

By Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser and Jay Thibodeau

Recommended Resources

Lecture Presantations

Course Learning Outcomes

  1. Comprehend Evidence of Auditing, Evidence Collection Techniques and Types of Evidence
  2. Provides an overall assessment of audit practices
  3. To divide auditing into types and shows the relationship between them.
  4. Specialize in writing short and long audit reports, comprehends and applies fair trial criteria.
  5. Comprehends the basic concepts and auditing standards related to accounting

Core Area Distribution

(22) Humanities%70 (46) Mathematics and Statistics%30

Teaching Methods

ExpressionQuestion-AnswerDiscussionGroup StudyCase StudySelf study

Assessment & Evaluation

Performance Assignment ( Lab / Workshop / Field Work / Seminar / Presentation / Completion Study / ThesisTesting (Essay / Tests: True-Falls, multiple-choice, short answer, matching)

ECTS / Workload

ActivityQuantityDuration (h)Total Workload
Course Duration (Including Exam Week)16348
Out of Class Study Period16232
Midterm155
Quiz000
Assignment11010
Practice000
Final13030

Course Schedule

WeekSubjectPreparation
1The concept of auditing and auditor, the historical development of auditing and auditing profession, types of auditing, types of auditorsReading related chapter
2Factors that require independent audit of financial statements, audit stages, audit standardsReading related chapter
3The meaning and basic elements of internal control systemReading related chapter
4Errors in accounting data, evaluation of internal control systemReading related chapter
5Definition of audit evidence, types of evidence, audit techniquesReading related chapter
6Quality of audit evidence, determination of number of units to be audited, audit proceduresReading related chapter
7Basics and advantages of statistical sampling, sample selection techniquesReading related chapter
8Midterm Exam-
9Statistical sampling methods, general evaluation of sampling methods, determination of implementation time, workforce planningReading related chapter
10Softwares about AuditingReading related chapter
11Definition and benefits of working papers, typesReading related chapter
12Preparation, filing, ownership and confidentiality of working papersReading related chapter
13Custom reports, internal control report, report writing principlesReading related chapter
14Presentations-
15Revision-
16Final Exam-