MASTER SYLLABUS
Course number and title: BUS 406, Auditing and Professional Ethics and Responsibilities
Department: Accounting & MIS
Credit hours: 3
Prerequisites: BUS 205, 207 and MATH 208
Fees and charges: None
Effective catalog year for this master syllabus: 2006 - 2007
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1. Catalog description:
A study of auditing principles and procedures including the study of internal control to prevent fraud, the professional ethics and legal responsibilities of the public accountant and the preparation of working papers and reports.
2. Course content:
a. The role of the public accountant in the American economy
b. Planning the audit
c. Internal control
d. Consideration of internal control and the IT environment
e. Specific financial statement accounts including cash, financial investments, accounts receivable, notes receivable, inventory and cost of goods sold, property plant and equipment, accounts payable and other liabilities, debt and equity
f. Auditing operations and completing the audit
g. Professional standards
i. Professional ethics
j. Legal liability of auditors
k. Audit sampling
3. Student learning objectives:
a. Understand the role of the auditor
b. Understand auditing procedures for specific financial statement accounts to ensure adequate internal controls and reliable information
c. Understand professional standards and ethics expected of auditors
d. Prepare an auditing package
4. Student assessment criteria:
Several assessment tools may be used including exams, quizzes, papers, an auditing project, homework, participation and attendance.