ACC 406
Financial Statement Auditing
Accountancy
Marriott School of Business
Course Description
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.
When Taught
Fall
Grade Rule
Grade Rule 8: A, B, C, D, E, I (Standard grade rule)
Min
3
Fixed
3
Fixed
3
Fixed
0
Other Prerequisites
Admission to School of Accountancy.
Title
key concepts
Learning Outcome
Identify, define and apply the key concepts related to the financial statement auditing process and the audit of internal control
Title
audit strategies
Learning Outcome
Develop audit strategies for several of the major financial statement cycles
Title
professional ethics
Learning Outcome
Identify, define and apply the basic concepts underlying professional ethics
Title
audit practice
Learning Outcome
Perform basic audit analyses using software used in audit practice
Title
auditing process
Learning Outcome
Combine knowledge of the auditing process with analytical reasoning to reach justifiable auditing decisions.
Title
auditors environment
Learning Outcome
Identify and define the primary components of the environment in which auditors operate.
