ACT 401: Auditing

Prerequisite: ACT 311 with a grade of C or better; Business Majors and Finance Minors only; Junior standing

A study of the audit function as performed by the outside public accounting firm. All stages are covered: planning the audit, gathering evidence, review of internal control provisions, development of working papers, analysis of accounts, preparation of statements, and final audit report. The ethics of the accounting profession are stressed throughout the course.