ACC 225 - Auditing
3 Lecture Hours
Prerequisites: ACC 202
This course introduces fundamental through 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:
- Implement fundamental auditing concepts and procedures that result in successful audit and assurance services results.
- Implement appropriate auditing procedures to determine the adequacy of audit evidence, materiality of evidence and audit risks for an entity under audit.
- Assess the adequacy of an entity’s internal control system.
- Evaluate the adequacy of that a client company’s auditing oversight committee protocols.
- Determine the appropriate audit opinion to be issued based on the results of an audit conducted in compliance with generally accepted auditing standards.
- 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: Dr. Quintin B. Bullock Date Approved: 2/18/2022
- Critical Thinking & Problem Solving
- Information Literacy
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