Course Title: Auditing Principles 

Course Code: AC 221 

Credit Value: 3 Credits

Contact Hours: 

Lectures: 2 hours/week 

Tutorials / Practical Applications: 2 hours/week

Duration: 15 Weeks (One Semester) 

Prerequisite: Financial Accounting for Corporations Primary Focus: Fundamentals of auditing theory and practice

1. COURSE DESCRIPTION

Auditing Principles introduces students to the theory, objectives, standards, and practices of auditing with an emphasis on the verification of financial statements, internal controls, audit evidence, and professional ethics.

The course equips students with foundational knowledge of external and internal auditing, enabling them to understand how auditors plan audits, assess risks, gather evidence, and form audit opinions in accordance with professional auditing standards.

2. COURSE OBJECTIVES

By the end of this course, students should be able to:

• Explain the purpose and scope of auditing.

• Distinguish between auditing and accounting.

• Apply auditing standards and ethical principles.

• Understand audit planning and risk assessment.

• Evaluate internal control systems.

• Interpret audit reports and opinions.

3. LEARNING OUTCOMES

Upon successful completion, students will be able to:

• Describe the role and responsibilities of auditors.

• Apply basic auditing standards and procedures.

• Assess audit risk and materiality.

• Evaluate internal control systems.

• Gather and evaluate audit evidence.

• Interpret different types of audit opinions.