2024-2025 Yavapai College Catalog 
    
    Jul 12, 2024  
2024-2025 Yavapai College Catalog

ACC 430 - Auditing and Assurance Services


Description: Auditing and other assurance services, including professional standards and procedures as applied to external and internal assurance engagements, ethics, and legal liability.

Prerequisites: Program admission. ACC 131 , ACC 132 , BSA 131 , CSA 110 , ECN 232 , and ECN 236  

Recommended Preparation: ACC 234 

Credits: 3
Lecture: 3
Lab: 0

Course Content:

  1. Assurance and financial statement auditing
  2. The financial statement auditing environment
  3. Audit planning, types of audit tests, and materiality
  4. Risk assessment
  5. Evidence and documentation
  6. Internal control in a financial statement audit
  7. Auditing internal control over financial reporting
  8. Audit sampling and application to tests of controls
  9. Auditing the revenue process
  10. Auditing the purchasing process
  11. Completing the audit engagement
  12. Reports on audited financial statements
  13. Professional judgment framework
  14. Professional conduct, independence, and quality management

Learning Outcomes:
  1. Evaluate concepts underlying an audit of financial statements. (1 ,2)
  2. Evaluate concepts of audit of internal control over financial reporting. (2, 6, 7)
  3. Compare the three concepts that underlie the audit process: materiality, audit risk, and evidence. (3-5)
  4. Apply audit concepts and procedures to a firm's revenue process. (8, 9)
  5. Apply audit concepts and procedures to a firm's purchasing process. (8, 10)
  6. Complete an audit. (11)
  7. Formulate reports on audited financial statements. (12)
  8. Assess professional judgment, conduct, independence, and quality management. (13, 14)