Advanced Financial Statement Auditing

Advanced Financial Statement Auditing
Accounting methodology, professional auditing standards, and current issues.
 Hours3.0 Credit, 3.0 Lecture, 0.0 Lab
 PrerequisitesAdmission to MAcc; Acc 515 or equivalent.
Course Outcomes: 

Auditing Concepts

Use auditing concepts and variables (e.g., client acceptance, risk assessment, materiality, understanding and testing of internal controls, analytical procedures, substantive audit testing, documentation of evidence, and completing an audit engagement) to make audit planning, testing, and evaluation decisions.

Application of Concepts

Apply auditing and assurance concepts to real-world case studies.


Apply statistical sampling concepts to auditing tests of controls, transactions, and balances.

Audit Software

Demonstrate basic proficiency with an auditing software package that is widely used in practice.


Collaborate in teams to solve problems and present findings in both written and oral forms.

Current Issues

Examine issues currently facing the profession (e.g., regulation, new standards, fair value, legal liability, independence, competition, new services)

Professional Judgment

Examine characteristics of good professional judgment as well as common threats to good judgment.

Ethical dilemmas

Deliberate on the spiritual and ethical implications of dilemmas faced by accounting professionals.