ACCT470 - Auditing

Description:
A study of the planning, evidence gathering, internal control review, sampling, and application of procedures used to audit assets, liabilities, equity and related income statement accounts of a profit-oriented enterprise. Includes an evaluation of the audit profession including professional standards, ethics and liability of CPAs. Also includes a student-prepared audit case for hands-on application of audit procedures. The reporting requirements for compilation and review services and a thorough study of the types of audit opinions will also be studied. In addition, an audit research paper is required.

Outcomes:

• Evaluate the structure, standards, ethics, liability, and services of the auditing profession
• Analyze internal controls and their associated risk to determine audit-sampling techniques and audit procedures
• Communicate evidence and findings through audit workpapers and memos
• Critically analyze current events that have been impacted by the world of auditing
• Analyze trends and potential issues in sample audit data using audit software
• Analyze internal controls and their associated risk in determining audit-sampling techniques used to acquire evidence
• Develop an audit plan
• Communicate specific designs of audit programs
• Prepare audit workpapers for a corporation
• Assess auditing concepts and principles in the engagement of auditing applications in preparation for the CPA exam

Required Text(s):

Louwers, T. J., Bagley, P., Blay, A. D., Strawser, J. R., & Thibodeau, J. C. (2023). Auditing & Assurance Services (9th ed.). McGraw Hill.