The course will provide students with a sound conceptual and pragmatic understanding of auditing. The primary emphasis of the course is on the auditor's decision-making process and the purpose, scope and concepts of external auditing. The impact of the adoption of international standards of auditing (ISA) on Canada's audit standards will be explored. This course also includes audit planning, evaluating internal controls, documenting audit evidence, assessing materiality and risk and communicating the results of the audit. Students are introduced to computer software whereby students develop and exercise audit strategies, including management of audit files and working papers. The course will also cover the legal and ethical requirements of the public accounting field and how to apply these requirements to practical audit situations. This course assumes that students have a foundation in intermediate financial accounting and are familiar with quantitative methods and management information systems. Students are also expected to have a sound understanding of basic mathematics and its application in the business context.
Please note that students who choose to take an online section of this course must write the final exam in person, at either the Humber North or Lakeshore campus, or, if located more than 100km from the campus, through an approved proctoring facility. Any costs associated with this are the sole responsibility of the student.