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COP414Management Sciences2 Unitsintermediate

Cooperative Auditing

This course introduces learners to the application of theory and practices of auditing in cooperative management of funds. It covers the nature and scope of cooperative auditing, audit work program preparation, and fraud detection and prevention. The course also explores internal audit, internal control, vouching, verification, investigation, inquiries, and audit report presentation. It aims to equip students with the knowledge and skills necessary for effective auditing in cooperative organizations.

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195h
Study Time
13
Weeks
15h
Per Week
basic
Math Level
Course Keywords
Cooperative AuditingFraud DetectionInternal ControlAudit ReportVerification

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
➕
Math Level
Basic Math
🔬
Learning Type
Hands-on Practice

Course Topics

Key areas covered in this course

1

Cooperative Principles

2

Auditing Standards

3

Fraud Detection

4

Internal Control Systems

5

Vouching and Verification

6

Audit Reporting

Total Topics6 topics

Requirements

Knowledge and skills recommended for success

Basic Accounting Principles

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Auditor

Apply your skills in this growing field

Accountant

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Compliance Officer

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

AgricultureFinanceRetailCredit Unions

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Introduction to Cooperative Auditing

7h

Unit 1: Introducing Cooperative Auditing

4 study hours
  • •Define cooperative and auditing concepts
  • •Identify types of cooperatives
  • •Discuss features and objects of cooperative audit
  • •Explain the duties of a cooperative auditor

Unit 2: The Nature and Origin of an Audit

3 study hours
  • •Understand the historical background of auditing
  • •Explain the nature of audit
  • •Identify the duties of cooperative auditors
Week
2

Module 1: Introduction to Cooperative Auditing

7h

Unit 3: Outline the Objects of Audit

4 study hours
  • •Highlight reasons for independent professional opinions on financial statements
  • •Distinguish between primary and secondary objectives of audit
  • •Discuss merits and demerits of audit

Unit 4: Legal Requirements To The Auditor/Powers Relating To The Audit

3 study hours
  • •Understand the legal requirements for auditors
  • •Explain professional and statutory regulations
  • •Discuss the powers relating to the audit
Week
3

Module 1: Introduction to Cooperative Auditing

9h

Unit 5: Preparation of Audit Work

5 study hours
  • •Prepare audit work
  • •Identify factors in developing an audit plan
  • •Discuss audit work programs for various cooperative sizes

Unit 6: Definition of Frauds and Errors

4 study hours
  • •Understand the definitions of fraud and errors
  • •Explain fraud and error detection in cooperatives
Week
4

Module 1: Introduction to Cooperative Auditing

9h

Unit 7: Procedures for Prevention of Fraud and Errors

5 study hours
  • •Understand procedures for preventing fraud and errors
  • •Identify conditions increasing fraud and error risks

Unit 8: Internal Audit

4 study hours
  • •Understand internal audit
  • •Explain the scope of internal audit
Week
5

Module 1: Introduction to Cooperative Auditing

9h

Unit 9: Guidance for Internal Auditors

5 study hours
  • •Understand guidance for internal auditors

Unit 10: Definition of Internal Control

4 study hours
  • •Understand the definition of internal control
  • •Identify features of internal control
Week
6

Module 1: Introduction to Cooperative Auditing

6h

Unit 11: Limitations of Internal Controls

6 study hours
  • •Understand limitations of internal control
  • •Explain vouching and verification
  • •Discuss verification of voucher transactions
Week
7

Module 1: Introduction to Cooperative Auditing

6h

Unit 12: Audit Procedures for Prepayments

6 study hours
  • •Understand audit procedures for prepayments
  • •Explain audit procedures for cash in hand and bank
  • •Describe verification of liability and sundry accruals
Week
8

Module 1: Introduction to Cooperative Auditing

5h

Unit 13: Definition and Scope of Investigation

5 study hours
  • •Understand verification of long-term liabilities
  • •Explain substantive procedures
Week
9

Module 1: Introduction to Cooperative Auditing

5h

Unit 14: Introduction to Audit Report

5 study hours
  • •Define audit report
  • •Describe objects of audit report
  • •Mention essential features of audit report
Week
10

Module 1: Introduction to Cooperative Auditing

5h

Unit 15: Standard Formats of Audit Reports.

5 study hours
  • •Understand unqualified auditor's report
  • •Describe the content of audit report
Week
11

Module 1: Introduction to Cooperative Auditing

6h

Review of Module 1

6 study hours
  • •Review all units in Module 1
  • •Work on Tutor Marked Assignments (TMAs)
Week
12

Module 1: Introduction to Cooperative Auditing

6h

TMA Completion and Exam Preparation

6 study hours
  • •Complete any outstanding TMAs
  • •Prepare for final examination
Week
13

Module 1: Introduction to Cooperative Auditing

6h

Final Revision

6 study hours
  • •Final revision and exam preparation
  • •Focus on key concepts and practice questions

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a study schedule covering all units

2

Focus on understanding key auditing concepts

3

Practice applying auditing procedures to sample financial statements

4

Review tutor-marked assignments and feedback

5

Pay close attention to legal and regulatory requirements discussed in Unit 4

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