AC401

AUDITING THEORY

AC401

(4 credit hours)

Spring/Odd Year  | Prerequisites: AC102 & Junior standing

An examination of the accounting profession, professional ethics, auditors' legal responsibilities, and financial audits by external auditors. The course surveys the development of auditing standards: the generally accepted auditing standards and official pronouncements. Practical applications are presented as illustrative cases. The case coverage includes audit planning, internal control evaluation, substantive audits and audit reporting. Sarbanes-Oxley is also presented.