Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
June 10, 2010 nf b COURSE OUTLINE DISTANCE EDUCATION ACADEMIC YEAR 2010 - 2011 It is the student’s responsibility to retain course outlines for possible future use in support of applications for transfer credit to another educational institution. PROGRAM(S): Accounting COURSE NAME: Auditing 1 COURSE NUMBER: ACCT 551 CREDIT VALUE: Four (4) PREREQUISITE(S): ACCT 331 Intermediate Accounting REQUIRED TEXT(S): Auditing, An International Approach Fifth Canadian Edition Wally J. Smieliauskas, Kathryn Bewley McGraw-Hill Ryerson Ltd., 2007 ISBN: 0-07-096829-2 APPROVED BY: August 31, 2010 Director, Continuing Education DATE COURSE DESCRIPTION The course will provide the student with a sound conceptual and pragmatic understanding of auditing. The primary emphasis of the course is on the auditor's decision-making process and the purpose, scope and concepts of external auditing. The impact of the adoption of international standards of auditing (ISA’s) on Canada’s audit standards will be explored. This course also includes audit planning, evaluating internal controls, documenting audit evidence, assessing materiality and risk and communicating the results of the audit. Students are introduced to computer software whereby students develop and exercise audit strategies including management of audit files and working papers. The course will also cover the legal and ethical requirements of the public accounting field and how to apply these requirements to practical audit situations. This course assumes that you have a foundation in intermediate financial accounting and are familiar with quantitative methods and management information systems.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 You are also expected to have a sound understanding of basic mathematics and its application in the business context. LEARNING OUTCOMES Upon completion of this course, the successful student will be able to: 1. Define the objective and the purpose of an audit of financial statements. 2. List the principle activities of a public accounting firm. 3. Describe the concept of an assurance engagement and explain where audits fit within the general assurance framework. 4. Explain the difference between an attest engagement and a direct reporting engagement. 5. Distinguish between audit review and compilation engagements. 6. Draft a standard auditor’s report and describe its components. 7. Describe an unqualified opinion, a qualified opinion, an adverse opinion, and a denial of opinion. 8. Differentiate between assurance standards, including international standards (ISA) generally accepted auditing standards (GAAS) and auditing procedures. 9. List and explain the in code of conduct for professional accountants and relate them to the Code of Ethical Principles and Rules of Conduct. 10.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/02/2011 for the course AUDITING 561 taught by Professor Shen during the Spring '11 term at Ashland University.

Page1 / 11


This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online