Auditing I - ACO 413

In today's accounting climate it is important to understand the auditing process including the theory, philosophy and practice of auditing and the ethical implications of auditing decisions.  This course develops an understanding and appreciation of the philosophy of the auditing process and provides students with the skills necessary for effective decisions regarding auditing, financial reporting, and ethical issues that face organizations.  The course covers the standards, concepts, and principles related to auditing theory and practice.  The concepts of risk and control, evidence and documentation are considered. It concentrates on the auditing cycle from inception (acceptance of a client) till audit reporting completion. Prerequisite: ACO 202