ACCT 623 - Auditing Theory and Practice II

Units: 3
Advanced study of U.S. and international professional auditing and ethics standards. Topics include audits of an Issuer, a Non-issuer, and governmental entities, attestation and assurance standards, and standards for performing accounting and review services.

Prerequisites: ACCT 622 with a grade C or better.
Equivalent Quarter Course: ACCT 6650.
Possible Instructional Methods: Entirely On-ground.
Grading: A-F grading only.
Student Learning Outcomes - Upon successful completion of this course students will be able to:

Compare and contrast the professional standards for Issuers and Nonissuers.
Compare and contrast among audits, attestation and assurance services, compilations, and reviews.
Design risk assessment procedures to evaluate the implementation of internal controls relevant to an audit of financial statements.
Identify and document financial statement assertions and formulate audit objectives.
Design audit procedures responsive to risks of material misstatement and obtain evidence to form a basis.
Develop and present reports of different types of engagements and services and communicate with those charged with governance.
Describe the International Auditing and Assurance Standards Boards (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.
Develop hands-on-skills in using the auditing software IDEA to perform audit procedures.