MBA 621: Auditing II

Overview

This course systematically applies the audit process including the concepts of audit risk, materiality, and evidence to various audit and assurance services and processes. This course addresses auditing the following business processes: inventory, financing assets (e.g., prepaid expenses, cash, investments), long-term liabilities, stockholders' equity, income statement accounts. This course provides an introduction to completing the audit and reporting responsibilities. This includes professional responsibilities relative to assurance, attestation, and internal auditing services. Application of auditor judgment and learning are focused on engaging, real-world examples, illustrations, and analogies.

Learning Outcomes

Upon successful completion of this course, students will be able to:

• Given audit information, apply auditing concepts and techniques to inventory management.
• Given audit information, apply auditing concepts and techniques to prepaid expenses, property, plant, and equipment.
• Given audit information, apply auditing concepts and techniques to long-term liabilities, stockholders' equity, and income statement accounts.
• Given audit information, apply auditing concepts and techniques to cash, and investments.
• Given audit information, address the auditing and reporting responsibilities related to completing the audit engagement.
• Given audit information, summarize and evaluate the auditing and reporting responsibilities related to reports on audited financial statements and on internal control over financial reporting.
• Given audit information, summarize and evaluate audit-related professional responsibilities relative to professional conduct, independence, quality control and legal liability.
• Given audit information, summarize and apply to internal and external auditing attestation situations an understanding of elements of assurance, attestation, and internal auditing services.

Required Texts
MBA 621 texts are available from the JIU/MBS bookstore