Principles of external auditing

What is auditing? -- The development of auditing and its objectives -- A framework of auditing concepts -- Threats to, and safeguarding of, auditors' independence -- Auditors' legal regulatory and professional responsibilities -- Auditors' duties with respect to fraud and no-compliance with laws and regulations -- Overview of the audit process, audit evidence, staffing and documenting an audits -- Commencing an audit: engagement procedures, understanding the client and identifying risks -- Planning the audit; materiality and audit risk -- Internal control and the external audit -- Testing financial statement assertions: substantive testing -- Audit sampling and computer assisted auditing techniques (CAATs) -- Completion and review -- Auditors' reports to users of financial statements and to management -- Legal liability of auditors -- Avoiding and limiting auditors' liability -- Corporate responsibility reporting and assurance -- The audit expectation-performance gap and proposals for reforming the external audit function.