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Contemporary Auditing I –
acc491
(3 credits)
This course is the first in a two-part series that deals with auditing a company's financial reports, internal controls, and Electronic Data Processing (EDP) systems. Topics include auditing standards, evidence, audit planning and documentation, materiality and risk, internal control, statistical tools, and the overall audit plan and program.
This undergraduate-level course is 5
weeks.
To enroll, speak with an Enrollment Advisor.
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Internal Controls and Information Technology
- Identify computer-assisted audit techniques.
- Explain the effect of IT on internal controls.
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Statistical Tools for Auditing
- Justify the use of statistical and non-statistical sampling when conducting an audit.
- Evaluate the results of an audit conducted through the use of statistical sampling.
- Perform sampling tests.
- Explain the importance of sampling techniques in an audit.
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Audit Planning and Internal Controls
- Analyze tests of controls.
- Assess control risk.
- Identify the components of internal control.
- Use the auditing analytical procedures.
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Materiality, Audit Risk, and Evidence
- Formulate audit objectives based on financial statements and management assertions.
- Prepare an engagement letter.
- Analyze the types and reliability of audit evidence.
- Explain how an auditor assesses an entity’s business risks.
- Explain the application of materiality, audit risk, and evidence to an audit.
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Auditing and Assurance
- Explain the Sarbanes-Oxley Act and its application to audits.
- Describe the elements of Generally Accepted Auditing Standards.
- Compare and contrast auditing, attestation, and assurance service standards.
- Identify the organizations that affect the public accounting profession.
- Explain the nature and functions of auditing.
- The University of Phoenix reserves the right to modify courses.
- 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 Advisor.
- 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.
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