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.