ACCT630 Advanced Audit and Internal Controls (3 cr.)
Prerequisite(s): ACCT500, ACCT510
This course builds upon previous auditing course work through the use of case studies, and provides an in-depth analysis of selected advanced topics in auditing, including developing an understanding of the (1) code of professional ethics of the auditing professions, (2) fundamental principles underlying an audit performed in accordance with generally accepted auditing standards, (3) impact of information technology in the conduct of an audit, and (4) how audit sampling is used in an audit. In addition, the factors that impact audit risk are analyzed, and the impact of internal controls on the conduct of an audit are evaluated.
Upon completion of this course, students are expected to be able to do the following:
- Understand the philosophy, environment, and code of ethics of the auditing profession.
- Examine the fundamental principles underlying an audit performed in accordance with generally accepted auditing standards.
- Interpret and use audit sampling in the conduct of an audit.
- Articulate management and auditor responsibilities with respect to internal control under the Sarbanes-Oxley Act.
- Evaluate the use of internal controls by top management and governing boards for organizations.
- Determine audit risk and access its impact on an audit.
- Assess the impact of information technology in the conduct of an audit.
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