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Course Description

This course is the first in a two-part series that deals with auditing a company's financial reports, internal controls, and Electronic Data Processing (EDP) systems. Topics include auditing standards, evidence, audit planning and documentation, materiality and risk, internal control, statistical tools, and the overall audit plan and program.

This undergraduate course is 5 weeks.

This course has a prerequisite. Please see details in the Prerequisite section below.

PLEASE NOTE:
Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.

Topics and Objectives

The Profession of Auditing

  • Distinguish between auditing and accounting.
  • Differentiate between the three main types of audits and auditors.
  • Describe the nature of CPA firms, what they do, and their structure.
  • Explain the role of the Public Company Accounting Oversight Board and the effects of the Sarbanes-Oxley Act on the CPA profession.

Ethical, Legal, and Professional Responsibilities of the Auditor

  • Explain the importance of ethical conduct for the accounting profession.
  • Apply primary legal concepts and terms concerning accountants’ liability as a basis for studying legal liability of auditors.
  • Explain the objective of conducting an audit of financial statements and an audit of internal controls.

Introduction to Phase One of an Audit: Pre-Audit and Planning

  • Assess client business risk and perform preliminary analytical procedures.
  • Apply materiality to evaluate audit findings.
  • Explain how materiality and risk are related and integrated into the audit process.
  • Design an audit program based on appropriate types of audit tests.

Other Pre-Audit and Planning Topics: Internal Controls and Control Risk

  • Explain the five components of the COSO internal control framework.
  • Describe internal control.
  • Explain Section 404 requirements for auditor reporting on internal control.
  • Integrate the audit evidence gathered and evaluate the overall audit results.

Fraud and IT Auditing

  • Examine the auditor’s responsibility for assessing the risk of fraud and detecting material misstatements due to fraud.
  • Recognize specific fraud risk areas and develop procedures to detect fraud.
  • Identify risks to accounting systems specific to IT.

Prerequisites

A prerequisite is required for this course. The purpose of a prerequisite is to ensure students have the knowledge and/or skills needed to be successful in the course. Students are required to provide proof of prerequisite during the enrollment/registration process. To meet to a course prerequisite requirement, a student must have successfully completed the prerequisite course at University of Phoenix, provide proof via transcript of completing a comparable course (at least 75% match) or higher level course with at least a grade of C at another institution or have a University of Phoenix approved Student Appeal on file with the University.

This course requires the prerequisite below. Click on the prerequisite course to review the course topics and objectives.

ACC/291 or ACC/291T – Principles of Accounting II or equivalent

During the checkout process you will be prompted to provide proof of the requirement(s). If you completed the prerequisite at another institution be prepared to upload an official/unofficial transcript. If you have questions about meeting the prerequisite requirements for this course please contact an enrollment representative at 866-354-1800.

Disclaimers

The University of Phoenix reserves the right to modify courses.

While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with an Enrollment Representative.

Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.

If you have a question contact us at 866-354-1800.

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Enroll Now - Select a section to enroll in

Section Title
CONTEMPORARY AUDITING I
Type
Instructor Led
Days
T, M
Time
12:00AM to 11:59AM
Dates
Oct 22, 2019 to Nov 25, 2019
Campus
Online Campus
Building
Online Non-Degree
Schedule and Location
Contact Hours
119.8
Location
  • Online Campus
Course Fee(s)
Undergraduate Tuition credit (3 units) $1,194.00 Click here to get more information
Section Fees
Resource Fee $170.00 Mandatory
Potential Discount(s)
Credits/Units
3 Credit Hours
Section Title
CONTEMPORARY AUDITING I
Type
Instructor Led
Days
T, M
Time
12:00AM to 11:59AM
Dates
Nov 26, 2019 to Jan 13, 2020
Campus
Online Campus
Building
Online Non-Degree
Schedule and Location
Contact Hours
167.8
Location
  • Online Campus
Course Fee(s)
Undergraduate Tuition credit (3 units) $1,194.00 Click here to get more information
Section Fees
Resource Fee $170.00 Mandatory
Potential Discount(s)
Credits/Units
3 Credit Hours
Section Title
CONTEMPORARY AUDITING I
Type
Instructor Led
Days
T, M
Time
12:00AM to 11:59AM
Dates
Jan 14, 2020 to Feb 17, 2020
Campus
Online Campus
Building
Online Non-Degree
Schedule and Location
Contact Hours
119.8
Location
  • Online Campus
Course Fee(s)
Undergraduate Tuition credit (3 units) $1,194.00 Click here to get more information
Section Fees
Resource Fee $170.00 Mandatory
Potential Discount(s)
Credits/Units
3 Credit Hours
Section Title
CONTEMPORARY AUDITING I
Type
Instructor Led
Days
T, M
Time
12:00AM to 11:59AM
Dates
Feb 18, 2020 to Mar 23, 2020
Campus
Online Campus
Building
Online Non-Degree
Schedule and Location
Contact Hours
119.8
Location
  • Online Campus
Course Fee(s)
Undergraduate Tuition credit (3 units) $1,194.00 Click here to get more information
Section Fees
Resource Fee $170.00 Mandatory
Potential Discount(s)
Credits/Units
3 Credit Hours
Section Title
CONTEMPORARY AUDITING I
Type
Instructor Led
Days
T, M
Time
12:00AM to 11:59AM
Dates
Mar 24, 2020 to Apr 27, 2020
Campus
Online Campus
Building
Online Non-Degree
Schedule and Location
Contact Hours
119.8
Location
  • Online Campus
Course Fee(s)
Undergraduate Tuition credit (3 units) $1,194.00 Click here to get more information
Section Fees
Resource Fee $170.00 Mandatory
Potential Discount(s)
Credits/Units
3 Credit Hours
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