BUSI 6101

This course covers the theory and practice of public auditing according to generally accepted auditing standards (GAAS). The first half of the course considers the forces impacting on the setting of auditing standards and the current level of standards. This part includes pronouncements of the accounting profession, reporting standards, professional ethics, statute laws, legal liability and responsibilities, standards for examination of internal control in both manual and computerized environments, standards for quality of evidence, statistical sampling and the sufficiency of evidence, documentation and working papers. The second half of the course considers typical audit programs for examination of balance sheet and income statement accounts.