ACCT 239 Auditing II

This course continues the study of auditing and other audit engagement services. The audit process is reviewed and applied to various business cycles including sales and collection, acquisition and payment, payroll and personnel, inventory and warehousing, capital acquisitions and repayment, and cash balances. Study includes concepts of an auditor's legal liability to clients, third parties, federal securities laws, and the profession's response to legal liability. This course is the second of two courses to prepare students for business decisions relating to auditing and the Auditing section of the Certified Public Accountant (CPA) Exam.

Credits

3

Prerequisite

ACCT 238

Hours Weekly

3

Course Objectives

1. Assess the audit process including auditor and management responsibilities, audit objectives, evidence
   accumulation, documentation, planning, analytical procedures, materiality and risk, and effective
   internal controls.
2. Perform audit procedures for accounts in sales and collections, acquisitions and payments, payroll and
   personnel, inventory and warehousing, and capital acquisition and repayments including tests of controls
   and substantive test of transactions.
3. Perform audit procedures for cash balances and relate these procedures to other audit areas.
4. Perform tests of detail balances for the audit of financial statements and audit of internal control over
   financial reporting.
5. Apply audit sampling including statistical sampling techniques.
6. Describe concepts of auditors’ liability to clients and third parties along with auditors’ civil liability
   under federal securities laws.

Course Objectives

1. Assess the audit process including auditor and management responsibilities, audit objectives, evidence
   accumulation, documentation, planning, analytical procedures, materiality and risk, and effective
   internal controls.
2. Perform audit procedures for accounts in sales and collections, acquisitions and payments, payroll and
   personnel, inventory and warehousing, and capital acquisition and repayments including tests of controls
   and substantive test of transactions.
3. Perform audit procedures for cash balances and relate these procedures to other audit areas.
4. Perform tests of detail balances for the audit of financial statements and audit of internal control over
   financial reporting.
5. Apply audit sampling including statistical sampling techniques.
6. Describe concepts of auditors’ liability to clients and third parties along with auditors’ civil liability
   under federal securities laws.