Course Code: ACCT 323
Academic Year: 2025-2026
This course will provide the students with a broad understanding of practical audit procedures. The course will emphasize the application of audit judgment to determine the nature and amount of evidence that the auditor should accumulate through case analysis. The course will also provide a basic understanding of how audit procedures are affected by accounting ERP applications. The primary emphasis of this course is the auditor's decision-making process and the nature of audit evidence required to issue an audit opinion on the fairness of organization's financial statements. Students will learn about the audit risk model, audit evidence, development and execution of substantive audit strategies, sampling methods and the various steps involved in issuing an auditors reports. Students will gain a broad understanding of practical audit procedures. Emphasis will be placed on application of audit judgment and building of expertise in conducting audits for each of the various business cycles. Students will apply different tests, (e.g., tests of controls, analytical procedures and tests of detailed balances) to perform internal control assessment, identify management assertions, design audit procedures and programs that would apply for all business cycles (Revenue, Purchasing, Inventory, Human Resources, Payroll, Capital Acquisition and Cash Cycles).