ACCT 543. Introduction to Auditing. 3 Hours.
The fundamental concepts of audit risk, evidence accumulation and materiality are applied to financial statement audits using established accounting principles as the criterion for evaluating fair presentation. Audit objectives and procedures are studied in relation to the opinion which the auditor expresses on clients' financial statements. Financial statement audits are compared with other types of engagements performed by public accountants, and with other types of audits, such as compliance and operational audits. Prerequisite: ACCT 311 and ACCT 410 or ACCT 411. Enrollment restricted. LEC.