Strategic Audit

Course Description

The aim of this unit is to develop learners’ understanding of how managers can position and execute business strategy appropriately. This will involve an in-depth study of the strategic auditing process and related procedures. Learners will be able to understand and apply suitable investigative techniques to both positive and negative environments.

Course Objectives

The aim of this unit is to develop learners’ understanding of how managers can position and execute business strategy appropriately. This will involve an in-depth study of the strategic auditing process and related procedures. Learners will be able to understand and apply suitable investigative techniques to both positive and negative environments.

Key Topics

1. LO1: Understand historic and current auditing processes and procedures.
2. LO2: Understand the importance of legal and professional requirements when completing an audit.
3. LO3: Understand audit strategy.
4. LO4: Understand the risk involved in the audit process.
5. LO5: Understand current developments in auditing.

Course Outline

Learning Outcomes

1. LO1 Understand historic and current auditing processes and procedures.
2. 1.1 Assess the historic and current auditing regulatory environment.
3. 1.2 Explain the rules of professional conduct for auditors.
4. 1.3 Critically assess the rules of professional conduct for auditors.
5. LO2 Understand the importance of legal and professional requirements when completing an audit.
6. 2.1 Explain the legal and professional requirements when completing an audit.
7. 2.2 Evaluate the importance of the legal and professional requirements on the performance of an audit.
8. LO3 Understand audit strategy.
9. 3.1 Analyse audit strategy used in business organisations.
10. 3.2 Assess the effectiveness of the audit monitoring process.
11. LO4 Understand the risk involved in the audit process.
12. 4.1 Discuss the risk involved in the audit process.
13. 4.2 Analyse appropriate measures to minimise identified risk.
14. 4.3 Explain the link between account preparation and the audit completed.
15. LO5 Understand current developments in auditing.
16. 5.1 Assess current developments in auditing.
17. 5.2 Assess the importance of the current developments in audit processes.