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ACCT 486. Financial Auditing

Credits: 3
Department: Accounting
Description: Nature of the audit function, nature of audit evidence, audit standards and procedures, professional ethics, and audit reports.
Prerequisites: C or better in ACCT 382
Semester Offered:
  • Fall
  • Spring
Grading Method: ABCDF

Student Learning Outcomes

1. Examine assurance, attestation, and auditing fundamentals used by accounting professionals.
2. Apply U.S. Generally Accepted Auditing Standards and procedures to auditing, assurance, and attestation engagements. a. assess risk inherent in financial statement assertions b. analyze financial and non-financial data c. evaluate internal controls, incorporating the management responsibilities required by the Sarbanes Oxley Act and Auditing Standard No. 5 d. design audit programs for financial statement audits e. identify conditions that lead to fraud
3. Explain and apply the AICPA (American Institute of CPAs) Code of Professional Conduct and the PCAOB (Public Company Accounting Oversight Board) Ethics & Independence standards.
4. Apply an ethics framework to identify and examine alternatives and resolve ethical dilemmas.

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