Carroll Community College

ACCT-230, Principles of Auditing

Credits: 3

Course Description

Principles of Auditing studies auditing theory with questions and problems typical of those met in daily practice. Emphasis is placed on the proper study and review of internal control and the gathering of audit evidence in the preparation of the auditor's report. Current professional pronouncements are reviewed, as well as regulations affecting the auditor. Prerequisite: ACCT-202 and MATH-115. Three hours lecture each week. Three credits. Three billable hours.

Course Objectives and Grading Information

Course Objectives: Upon completion of this course, the student will:

1.Differentiate between types of audit opinions.

2. Understand the legal issues underlying the relationship between auditors, clients and third parties.

3. Understand assurance and attestation services offered by CPA's.

4. Understand the function of internal auditing and compliance auditing.

5. Be familiar with professional standards, reports and professional ethics.

6. Be familiar with the collection of evidence.

7. Study and evaluate internal control.

8. Study statistical and non-statistical sampling and testing.

9. Write audit reports in compliance with GAAP.