Department of Auditing

External auditing

What is external auditing?

In terms of the Auditing Profession Act No. 26 of 2005 an audit is defined as the examination of, in accordance with prescribed or applicable auditing standards:

  • Financial statements with the objective of expressing an opinion as to their fairness or compliance with an identified financial reporting framework and any applicable statutory requirements; or
  • Financial and other information, prepared in accordance with suitable criteria, with the objective of expressing an opinion on the financial and other information.

External auditing is therefore an independent and objective assurance service which is designed to add value to the business of its clients.  An external auditor, identifies risks associated with a business, and responds to such risks by designing and performing audit procedures to obtain sufficient appropriate audit evidence to base the audit opinion on.

Why study external auditing?

Passing the qualifying examination to become a Chartered Accountant (CA (SA)) and/or Registered Auditor (RA) is/are the ultimate qualification/s to be achieved within the accounting and auditing professions. 

CAs (SA) are well represented in the senior management and boardrooms of most large South African companies, therefore the expectation that a business professional should seek a CA (SA) qualification is very real. CAs (SA) work in all industries, at every level of management with RAs working mostly in the auditing and assurance sector. They are sought after due to the standard and content of their undergraduate and postgraduate qualifications and their commitment to ethical standards mandated through adherence to a comprehensive code of professional conduct.

The CA (SA) and RA designations provide excellent career opportunities and financial rewards with international recognition and the ultimate competitive edge in business.

The external auditing modules form part of the BCom (Accounting Sciences) degree that a prospective CA (SA) or RA will need in order to meet one of the requirements to qualify as a CA (SA) or RA.

Meeting all these requirements in becoming a CA (SA) or RA is not going to be easy, but that's why you will stand out from the crowd when you do.  In short, commitment to becoming a CA (SA) or RA will demonstrate to employers that you are committed to hard work, professionalism and an ethical code of conduct.

In the Department of Auditing at Unisa we are committed to developing your understanding of the modern demanding business environment, both locally and internationally, by adhering to the South African Institute of Chartered Accountants (SAICA) Competency Framework and Examinable Pronouncements.

For more information on becoming a CA (SA) or RA, the SAICA Competency Framework and the Auditing Examinable Pronouncements, please visit the South African Institute of Chartered Accountants website: http://www.saica.co.za or the Independent Regulatory Board for Auditors website: hhtps://www.irba.co.za.

Our academic and administrative staff

The external auditing modules are lectured by a team of highly skilled, qualified and experienced innovative lecturers on a first year, second year and third year level within the School of Accountancy.

Last modified: Sun Oct 09 08:56:12 SAST 2016