|Course ID:||ACCT 5200H. 3 hours. |
|Course Title:||Auditing, Risk Assessment, and Control (Honors)|
|Assurance services with focus on the audit of financial
statements. The basic financial statement audit process is
discussed, including the concepts of evidence, materiality, and
risk. The role of professional ethics and legal liability in the
|Oasis Title:||AUDIT RISK/CNTRL H|
|Duplicate Credit:||Not open to students with credit in ACCT 5200/7200|
|Nontraditional Format:||Additional Requirements for Honors Credit: Students will
complete three additional projects on reporting requirements
for publicly traded U.S. companies and the role of the auditor
in those filings.
The project is worth 10 percent of the course grade for Honors
students. Course points are reweighed to include this
assignment and place these students on the grading scale with
all other students in the course.|
|Pre or Corequisite:||(ACCT 5310/7310 or ACCT 5310H) and permission of Honors|
|Offered fall and spring semester every year. |
|Grading System:||A-F (Traditional)|
This course is designed to provide the student with a conceptual
understanding of financial statement auditing and the nature of
other attestation services. One goal is for the student to
develop professional skepticism by becoming a critical
reader and user of information. Additionally, the student will
gain an understanding of the regulatory environment in which
auditors work and the recent changes in that environment. We
will spend most of the course learning about the process of
performing an audit, understanding the audit risk model and how
the various accounting cycles are audited. We will wrap up the
course by covering the reporting options auditors can use to
signal the quality of the financial statement reporting to
financial statement users. The material we will cover will
assist the student in preparing for the Auditing Section of the
CPA Exam; however, we do not have time to cover all topics that
might appear on the exam.
1. The demand for auditing and assurance services.
2. Audit responsibilities and objectives.
3. The audit process.
4. Materiality, audit risk and audit evidence.
5. Internal control and control risk.
6. Audit sampling.
7. Auditing transaction cycles.
8. Audit reports.