Singapore University of Social Sciences

Assurance and Attestation

Assurance and Attestation (ACC305)


ACC305 aims to provide an understanding of the role of assurance service and examine key concepts of risk and internal controls. The topics covered include assurance service and attestation function; financial statement and other auditing; professional standards, professional ethics and auditor independence; audit process model and concepts of risks and materiality; risk identification and assessment; audit evidence, testing, internal control and documentation; and audit sampling.

Level: 3
Credit Units: 5
Presentation Pattern: EVERY JULY


  • Overview on auditing
  • Audit reports
  • Ethics and the audit profession
  • Audit responsibilities and objectives
  • Nature and type of audit evidence
  • Audit planning
  • Materiality
  • Internal control
  • Developing the audit plan and audit program
  • Considering the risk of fraud
  • Implications of information technology for audit planning
  • Audit sampling

Learning Outcome

  • Explain the purpose of legal and professional regulation of auditing in the context of information risk and the demand for assurance.
  • Apply applicable Singapore Standards on Auditing and other laws and regulations throughout the audit process of client acceptance, engagement planning, fieldwork, completion and reporting.
  • Indicate the risks of material misstatement in the financial statements due to business, regulatory and macroeconomic factors, and demonstrate the impact on the audit strategy.
  • Illustrate the components of internal control related to financial reporting.
  • Demonstrate data analysis techniques to obtain insights to business performance and risks.
  • Execute typical audit procedures for sales, expenses, inventory, accounts receivable and payable, and salaries, using quantitative and qualitative methods.
  • Compare how transactions are recorded, and financial statements are prepared, to relevant Singapore Financial Reporting Standards and other regulation.
  • Discuss the appropriateness and sufficiency of evidence collected to form the basis for the audit opinion.
  • Illustrate the ethical principles, threats and safeguards in different professional scenarios such that independence of mind and appearance, integrity, objectivity or professional scepticism are not compromised.
  • Identify accounting, auditing and professional issues and apply auditing and professional standards to develop appropriate solutions.
  • Demonstrate proficiency in written and verbal communication skills.
  • Develop the essential knowledge and interpersonal skills to work effectively in a team.
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