In this course, students focus on the auditing practice performed by public accountants. Topics include the CPA profession and the auditor’s role, planning the audit, audit reporting and required communications, evaluating internal controls, audit programs for current assets and liabilities, and audit programs for other business cycles.
Explain the importance and demand for audit and other assurance services.
Analyze the auditor’s role in providing assurance.
Identify professional standards for CPAs.
Planning the Audit
Explain audit objectives and responsibilities.
Prepare plans for conducting an audit.
Audit Reporting and Required Communications
Identify characteristics of audit evidence.
Evaluate the appropriateness of an audit report for a completed audit.
Describe audit sampling methods for tests of controls and substantive test of transactions.
Internal Control Evaluation
Describe an auditor’s responsibility for detecting and reporting fraud.
Analyze the relationship between internal controls and the audit process.
Evaluate internal control risks.
Explain the significant regulations and guidelines related to audits of internal control.
Audit Programs for Current Assets and Liabilities
Design tests of controls, substantive tests of transactions, and analytical procedures for the sales and collection cycle.
Design tests of controls, substantive tests of transactions, and analytical procedures for the payroll and personnel cycle.
Design tests of controls, substantive tests of transactions, and analytical procedures for the acquisition and payment cycle.
Audit Program for Other Business Cycles
Design tests of controls, substantive tests of transactions, and analytical procedures for the inventory and warehousing cycle.
Design tests of controls, substantive tests of transactions, and analytical procedures for the cash cycle.
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While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Representative.
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.