Auditing 2 (External) ACCT-332
| Course Name: | Auditing 2 (External) |
| Course Number: | ACCT-332 |
| Category: | Accounting |
| Description | Auditing 2 is the second in a series of courses relating to this area of expertise. It will emphasize file preparation, evaluation of audit evidence and the documentation of internal control. Specific topics will include: the role of auditors in the economy, generally accepted auditing standards, audit reports, un-audited engagements, professional ethics and rules of conduct, audit evidence, legal liability and internal control as well as the audit of the transaction cycles of an organization.
Through a major case study and lectures, you will develop skills in working paper preparation as well as the ability to identify various auditing reports attached to financial statements. As a real-world component, you will produce various sections of an audit file. You will be tested through quizzes and a comprehensive final exam. Your Auditing 2 training will prepare you to: •Describe and illustrate the four types of audit tests applied to financial statements; •Choose the appropriate audit report to assign to the audit circumstances; •Describe the appropriate substantive tests to be conducted during the acquisition and payment cycle; •Analyze short cases for possible fraud and choose the appropriate remedial actions; •Discuss the various sampling approaches in the inventory and warehousing and capital acquisition and repayment cycles; •Analyze internal control systems and other organizational issues, and prepare the necessary control adjustments; •Identify the Board's role in the overall corporate governance, including IT; •Apply the Audit Command Language software to analyze large amounts of data and infer the results upon the organization; •Identify and analyze contingent and subsequent events and their implications on the financial results. |
| Notes | Prerequisites: Intermediate Accounting 1 ACCT-255, Accounting Information Systems ACCT-257 or permission of the department.
Required course for the following outside certification: This course is offered in both CE and Distance Learning formats. For further information regarding Distance Learning, visit http://www.centennialcollege.ca/programs-courses/distance-learning/ or email online@centennialcollege.ca. |
| Associated Programs | |
| Pre-requisities |
Requires the following prerequisite(s):
ACCT-255 - null ACCT-257 - Accounting Information Systems Or permission of department |