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Internal Audit 1

General

Prefix

ACCT

Course Number

304

Course Level

Undergraduate

Department/Unit(s)

Accounting

College/School

Herberger Business School

Description

Nature of internal and operational auditing, performance of an operational audit.

Prerequisites

Credits

Min

3

Max

3

Repeatable

No

Goals and Diversity

MN Goal Course

No

Cultural Diversity

No

Learning Outcomes

Outcome

Recognize and discuss the role internal auditors play in industry, government, and private organizations and how they fit into the governance process within these organizations.

Outcome

Use research strategies to find internal audit standards, guidelines, and emerging issues and the relationship to relevant laws and regulations.

Outcome

Evaluate processes within organizations that are prone to control issues and identify the implications for resource allocation.

Outcome

Identify the roles and responsibilities within an organization with respect to internal controls.

Outcome

Describe how technology fits into the control environment.

Outcome

Describe fraud risks and identify related controls.

Outcome

Demonstrate the internal audit process and how the assurance engagement is conducted.

Course Outline

Course Outline

Introduction and professional practices framework. 14% Governance, Sarbanes-Oxley, and other key regulations. 14% Business processes and risk management. 13% Internal controls. 10% Information technology, fraud risks, and controls. 11% Managing the internal audit function, audit evidence, and working papers. 11% The engagement process and conducting the assurance engagement. 16% Communicating result and follow-up procedures. 7% The advisory engagement. 4%

Dependencies

Courses

ACCT304 is a prerequisite for:

Programs

ACCT304 is a completion requirement for:
ACCT304 is a prerequisite for: