Financial Statement Auditing

Financial Statement Auditing
This course develops and uses a framework for making judgments in a financial statement auditing context. The audit judgment framework includes a deep understanding of concepts such as the audit risk model, audit evidence, audit sampling and others. This framework is applied to most of the financial statement accounts found in a typical business including revenue, receivables, payables, inventory, fixed assets and other accounts. Other topics covered include professional ethics for accountants and the legal and professional environment affecting financial statement audits.
 Hours3.0 Credit, 3.0 Lecture, 0.0 Lab
 PrerequisitesAdmission to School of Accountancy.
 ProgramsContaining ACC 406
Course Outcomes: 

key concepts

Identify, define and apply the key concepts related to the financial statement auditing process and the audit of internal control

auditing process

Combine knowledge of the auditing process with analytical reasoning to reach justifiable auditing decisions.

audit strategies

Develop audit strategies for several of the major financial statement cycles

professional ethics

Identify, define and apply the basic concepts underlying professional ethics

audit practice

Perform basic audit analyses using software used in audit practice

auditors environment

Identify and define the primary components of the environment in which auditors operate.