National University




ACC650M Auditing Principles

Lead Faculty: Dr. Joyce Ellis

Course Description

The first course in a two course sequence. Audits of financial statements by Certified Public Accountants. Topics include: professional ethics, legal liability, planning of audit engagements, internal control, EDP and sampling.

Learning Outcomes

  • Apply generally accepted auditing standards as promulgated by the American Institute of CPAs.
  • Assess the risks that management's financial statements may be materially misstated either because of unintentional error or fraud.
  • Evaluate an audit client's internal control environment and document the strengths and weaknesses of that environment.
  • Apply analytical procedures in the planning stage of the audit, during the audit as substantive tests, and in the overall review stage of the audit.
  • Evaluate various types of evidence to support management's financial statement assertions.
  • Plan and perform appropriate tests of controls and substantive tests of details for the audit of major balance sheet accounts and their related income statement accounts.
  • Apply ethical standards and rules of conduct promulgated by the American Institute of CPAs.
  • Assess the auditor's responsibilities identified in the Sarbanes-Oxley Act.

Prerequisite