This is an introductory course in auditing for students with limited previous exposure to auditing. The overall objective of this course is to help students obtain the skills, knowledge, and attitude to maximize the likelihood that they will be successful in an auditing career after graduation. The main objectives are to enable students to:
- Learn about a business approach to auditing that emphasizes the relevance of general business and environmental knowledge awareness.
- Describe the auditing/assurance services environment.
- Explain the key auditing concepts and how they drive the audit.
- Develop professional judgment as it relates to materiality, risk assessment, the application of generally accepted auditing standards, and the determination of sufﬁcient appropriate evidential matter.
- Describe how to accumulate and interpret audit evidence.
- Describe the process involved in completing the audit.
- Apply selected statistical sampling methods in auditing.
- Describe the basic types of audit reports issued for publicly-held and privately-held companies.