AC405 Auditing (3 cr.)

Prerequisite(s): AC303 
This course covers audit theory and practice. It emphasizes applying audit theories and procedures in the examination of a company’s financial statements by a certified public accountant. Auditing standards, professional ethics, legal responsibilities, and current auditing trends are discussed.

Upon completion of this course, students are expected to be able to do the following:

1. Describe and apply auditing standards.
2. Discuss the role of the auditor with regard to legal liability, ethics, and independence.
3. Define internal control and distinguish the major components of internal control.
4. Explain the relationship between evidence and audit risk and identify and explain the components of audit risk.
5. Identify and apply audit methods and techniques used in practice today.
6. Perform appropriate analytical procedures.
7. Analyze various types of computer software and relate the importance to audit procedures.