|Course ID:||ACCT 7200. 3 hours. |
|Course Title:||Auditing, Risk Assessment, and Control|
|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|
|Duplicate Credit:||Not open to students with credit in ACCT 5200 or ACCT 5200H|
|Nontraditional Format:||Students will complete three projects on reporting requirements
for publicly traded United States companies and the role of the
auditor in those filings.|
|Pre or Corequisite:||ACCT 5310 or ACCT 5310H or ACCT 7310|
|Offered fall and spring semester every year. |
|Grading System:||A-F (Traditional)|
This course is designed to provide you with a conceptual
understanding of financial statement auditing and the nature of
other attestation services. One goal is for you to develop
your professional skepticism by becoming a critical reader and
user of information. Additionally, you 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 you 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
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.