Auditing Analytics

3 Credits · Level: Undergraduate

This course introduces the financial statement audit process and the three fundamental concepts of financial statement auditing: materiality, audit risk, and evidential matter. Course topics include how audit firms examine business processes and internal controls to assess audit risk, the development of an audit strategy, the auditor’s responsibility to detect fraud, the use of “auditor judgment” to make decisions, and the importance of professional ethics and independence. The course also explores how audit firms use data analytics to perform their audit risk assessment and execute their audit strategy. The skills acquired in the class will be taught through real-world examples and continuous reference to the regulatory environment in which the financial statement audit process resides.