The role and function of the independent auditor in the profit-directed sector of the economy is emphasized. The ethical, social, economic and political forces that have influenced the philosophy and conceptual foundations of auditing are covered in depth. Pronouncements by the American Institute of Certified Public Accountants, rulings by regulatory agencies and court decisions are analyzed. Standards that guide the auditor and the methodology used in conducting an audit are covered and illustrated, including audit considerations regarding computerized management information systems. Data analytics in accounting is also covered.
Prerequisite(s)/Course Notes: ACCT 124, IT 014, BAN 001, and senior class standing or permission of the department chairperson. Credit given for this course or ACCT 233, not both.