ACC-2040 Principles of Auditing

Credits 3
This course provides an overview of auditing, assurance services and attestation services. The course focuses on financial auditing, which is the independent accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. First, students learn about the role of auditors in society, the types of audits, and the criteria by which auditors can evaluate information. The course emphasizes Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS.) Next, students learn how to design and perform financial audits. Additionally, they learn how to produce the audit report, which communicates the audit findings to the users.
Prerequisite(s): ACC-2020
Course Outcomes

Design an audit plan, which includes appropriate audit procedures.
Evaluate audit findings to detect material misstatements in financials.
Assess the impact of regulatory standards, accounting and audit standards, emerging issues, and the business environment of audits.
Develop effective communication of audit findings to the appropriate audience.
Analyze professional standards that relate to conducting professional services and resolving ethical dilemmas.