This course discusses auditing principles and generally accepted auditing standards and introduces students to the underlying principles and concepts used by the auditing profession. Students study the purpose of the audit function and are introduced to techniques and procedures. Using a risk-based approach, the course focuses on the auditor's decision making process of assessing risk and tailoring the audit approach as a response to those risks.
Upon successful completion of this course, students will be able to:
Identify the components of an audit and explain the demand for audits.
Examine the characteristics of quality control for financial statement audits and explain how quality control is monitored.
Analyze a variety of situations to assess whether threats to independence exist.
Identify the components of the audit risk model and assess the risk of material misstatement for a variety of audit engagements. Begin to assess the nature, extent and type of evidence required.
Discuss the factors that need to be considered in planning the audit engagement and assess the appropriate materiality level for a given audit engagement.
Describe the management assertions.
Understand the primary objective of internal controls and begin to assess the adequacy of internal controls in a basic situation.
Begin to apply professional judgement to a variety of audit situations.
Registration is now open for the Winter 2020 term.
Classroom Locations
Classroom locations are subject to last minute changes. Please check the Part-time Studies Classroom Locations listing at www.bcit.ca/rooms on the first day of any course you are registered for.