ACCT 421 - Auditing II

Units: 3
In-depth study of U.S. and international professional auditing and ethics standards. Topics include US and international auditing and ethics standards of an Issuer and a Non-issuer, and US standards governing governmental entities, attestation and assurance, accounting and review services.

Prerequisites: ACCT 321 with grade C or better.
Equivalent Quarter Course: ACCT 4251.
Possible Instructional Methods: Entirely On-ground, or Entirely Online.
Grading: A-F grading only.
Student Learning Outcomes - Upon successful completion of this course students will be able to:

Describe the International Auditing and Assurance Standards Board (IAASB), the International Standards on Auditing (ISAs), the International Ethics Standards Boards for Accountants (IESBA), and the International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants. Compare and contrast the U.S. and international professional standards for Issuers and Nonissuers;
Compare and contrast the U.S. standards among audits, attestation, assurance services, compilations, and reviews;
Design auditing procedures for sales and collection cycle, acquisition and payment cycle, inventory and warehouse cycle, capital acquisition and repayment cycle, and cash and financial instruments;
Develop and present reports of different types of engagements and services and communicate with those charged with governance.