Principles of Auditing

Catalog description

Examines audit principles, concepts, and standards relevant to the attest function. Explores the objectives of audited financial statements performed by certified public accountants in compliance with AICPA auditing standards, PCAOB standards and guidelines, and SEC rules and regulations for publicly held companies. Also explores the objectives of audited financial statements and other lower-level services (such as reviews and compilations) performed for privately held nonpublic companies. Topics include ethical and legal liabilities of the auditor, including the independence and skepticism requirement, internal control, audit evidence, audit procedures, audit compliance and substantive testing, statistical sampling, transaction cycle testing, and the role of the audited reports on the efficiency of capital markets.