ACC 225 - Auditing
3 Lecture Hours
Prerequisites: ACC 202
This course introduces intermediate level auditing studies to accounting students possessing no previous auditing experience. Emphasis is placed on a conceptual understanding of auditing principles required to successfully apply auditing procedures and methods to enable the expression of opinions on the fair presentation of required financial statements. Explanations of how concepts are applied in the practice, procedures and policies of the auditing profession are presented. Emphasis is placed heavily on the practice of auditing procedures for both traditional and current areas of interest with the objective of successful completion of the auditing section of the national Certified Public Accountants (CPA) examination, as well as the continued advanced study of accounting for those not pursuing the public practice of accounting.
Upon successful completion of the course, the student will:
- Execute the practices of the independent auditor in accordance with auditing standards.
- Apply basic auditing concepts and procedures that will result in successful audit and assurance services results.
- Discuss the relationships between audit evidence, materiality and audit risks.
- Identify risks within the audited entity system and related environment.
- Recognize the audited entity’s internal control workings.
- Distinguish between the interrelationships of auditing and accounting.
- Implement the rules of the organizations with oversight of the Auditing profession.
- Research all available literature to identify, interpret and apply the American Institute of Certified Public Accountants (AICPA), Pennsylvania Institute of Certified Public Accountants (
- The audit planning process
- Internal controls
- Auditing the revenue business process
- Audit evidence and the auditor’s responsibility for fraud detection
- Auditing the acquisition and expenditure business process
- Auditing the inventory business process
- Audit sampling:Tests of internal controls
- Audit sampling: Substantive tests of details
- Cash and investment business processes
- Long-term debt and owner’s equity business processes
- Completing the audit
- Audit reports
- The auditing profession
Students who successfully complete this course acquire general knowledge, skills and abilities that align with CCAC’s definition of an educated person. Specifically, this course fulfills these General Education Goals: Approved By: Bullock, Quintin Date Approved: 03/03/2015
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