ACCT 321 - Auditing I

Units: 3
Introduction to the auditor’s decision-making process in a financial statement audit as well as an integrated audit of both financial statement and internal control over financial reporting. Topics include audit planning and engagement, internal control, sampling, audit evidences and reports.

Prerequisites: ACCT 312 with grade C or better.
Equivalent Quarter Course: ACCT 4250.
Possible Instructional Methods: Entirely On-ground, or Entirely Online.
Grading: A-F grading only.
Course Typically Offered: Fall & Spring

Student Learning Outcomes - Upon successful completion of this course students will be able to:

Describe the auditing standards applicable to both Issuers and Nonissuers;
Explain the ethical and legal responsibilities of financial statement auditors in the public accounting profession;
Describe audit objectives, audit planning and analytic procedures, and risk assessment;
Describe the types and persuasiveness of audit evidence;
valuate, test and report internal controls for both manual and IT environments;
Apply statistical and non-statistical audit sampling methods to gather and evaluate evidence;
Develop problem solving and critical thinking skills through audit cases.