ACCT 420 Auditing • 5 Cr.


Introduction to auditing standards; the legal and ethical environment of the profession. Strong emphasis is given on materiality, audit risk, and audit reports. It covers the concepts for application of the audit process to multiple business cycles, internal controls, and to an audit of financial statements by using work papers, sampling, and audit tests and procedures. Prerequisite: ACCT 400.


After completing this class, students should be able to:

  • • Evaluate auditing standards. • Identify and examine materiality and audit risk. • Conduct an audit on internal controls and inspect for potential fraud. • Outline and Implement an audit plan and an audit program. • Design an audit process of sales, collection, acquisition, payment, payroll, inventory, and warehousing cycles. • Compose professional and objective audit reports in accordance to auditing standards.