This course studies the role of the external auditor in the financial markets, the environment in which the auditor operates, planning and audit risk assessment, auditing procedures, audit sampling, and audit reports.

The course goal is to increase awareness and develop an appreciation of the overall audit process and its practice which includes developing an understanding of the components, steps, and outcomes of an audit.  Course includes such concepts as internal controls, audit risk analysis, ethical and professional auditing standards, materiality, substantive testing, the audit plan, fraud risks, etc.

Recommended Prerequisites: ACC 312 (C- or better)