Control and Audit System

AQ016-3-3
Introduction & Overview

Prerequisites for this module

None

AQ016-3-3-CAS

INTRODUCTION

Slide 2 of 14

Aims of this module

This module is to ensure that candidates are
able to exercise judgment and apply
techniques in the analysis of matters relating
to the provision audit and control system.
Compare the objectives and principal
characteristics of internal audit and control
with
other
assurance
engagement.
Recognize and assess the implications of
specified computer system.

AQ016-3-3-CAS

INTRODUCTION

Slide 3 of 14

Learning Outcomes
On successful completion of this module, you should be able to:

Describe the extent of the reliance the external auditor

may place on the internal control system. (MQF1)
Apply a range of control and audit system used to
safeguard, monitor and improve in business operation.
(MQF2)
Evaluate effectiveness, economy and efficiency of
controlling system and auditing to an organization.
(MQF1)
Critically evaluate and recommend quality control
policies and procedures. (MQF1 and MQF2)
AQ016-3-3-CAS

INTRODUCTION

Slide 4 of 14

Topics we will cover

AQ016-3-3-CAS

Internal control system

Internal Control in Planning
Internal Control in CIS environment
Types of Control
Auditors consideration on Internal control
Internal Control revenue and purchases
Reliance on internal control
Internal Control inventory and payroll
Going concern and materiality
Internal audit and operation
Internal audit reports and internal review reports
Shariah Audit
INTRODUCTION

Slide 5 of 14

What is expected of you

You should abide to all the rules &
regulation of APU
Proper attire
No speaking of dialects
Attendance is compulsory and valid medical
certificates or letters from parents /guardians
must support any absence from class.
Three lateness will be equal to one absence
All pagers and handphones should be turned
off during lectures.

AQ016-3-3-CAS

INTRODUCTION

Slide 6 of 14

 Students doing things not related to the

current lecture will be asked to leave
the room and disciplinary action will be
taken in accordance with the Institutes
rules and regulations.
Students should not leave the room
during a lecture except with the
agreement of the lecturer
Assignments should be submitted
before 7.00p.m. on due date to the
receptionist.
Students have to submit the EC form for
late assignment and missing from class
test.
AQ016-3-3-CAS

INTRODUCTION

Slide 7 of 14

What support is available for you

Consultation hours
email
Resources
Reference material
Internet resources

AQ016-3-3-CAS

INTRODUCTION

Slide 8 of 14

Reference material
Alvin A. Arens, Randal J. Elder , Mark S. Beasley
(2013) Audit and Assurance Services : An Integrated
Approach, 15th ed. Pearson (ISBN: 978-0133125689)
Olof Arwinge, (2014), Internal Control: A Study of
Concept and Theme, ,Physica-Verlag HD (ISBN:
9783790829457)
Mustafa Mohd. Hanefah, (2012) Governance and
Shariah Audit in Islamic Financial Institutions, Penerbit
Universiti Sains Islam Malaysia. (ISBN:
9789670393469)
Further Reading:
Philomena Leung, Paul Coram, Barry J. Cooper (2012), Modern
Auditing and Assurance Services, 5th Ed. John Wiley & Sons. .

AQ016-3-3-CAS

INTRODUCTION

Slide 9 of 14

How you will be assessed

An Exam length 2 hours weighted at
50%.
Incourse 50%
- Test weighted at 20%
- Assignment weighted at 30%

AQ016-3-3-CAS

INTRODUCTION

Slide 10 of 14

 Achievement requirements
Marks

AQ016-3-3-CAS

Alphabetical
Grades

Grade Points

80 - 100

A+

75 79

3.7

70 - 74

B+

3.3

65 - 69

3.0

60 - 64

C+

2.7

55 - 59

2.3

50 - 54

C-

2.0

40 - 49

1.7

30 - 39

F+

1.3

20 - 29

INTRODUCTION

DISTINCTION

CREDIT

PASS

MARGINAL
FAIL

FAILSlide 12 of 14

Question and Answer Session

Q&A
AQ016-3-3-CAS

INTRODUCTION

Slide 13 of 14

What we will cover next

Internal Control System

AQ016-3-3-CAS

INTRODUCTION

Slide 14 of 14