Learn Online: Auditing For Today's Accounting Students

This course introduces a practical approach to auditing. It focuses on the systematic process to include the kind of teaching that students will face in the real world.

The course discusses and explains Generally Accepted Auditing Standards (GAAS). Students will walk through the audit process and discover the important elements, such as documenting a client s system of internal control, performing tests of compliance, and applying substantive test procedures to account balances. Students will review and learn about the process of flowcharting a system of internal control, referencing, statistical sampling, using tick marks on audit workpapers and performing analytical review procedures. They will also get a good understanding of the various audit reports issued by the auditor. Different legal issues and professional ethics in the field of auditing are also discussed.

The course is designed to give everyone a comprehensive look at the audit process. Students will not only look at the audit engagement, but will also learn of other services performed by CPA firms. After successfully completing this course, the student should feel comfortable with the audit process and maybe in a situation to help other auditors in a CPA firm. Moreover, understanding the audit process is a must for accounting students because they will broaden their overall view of accounting and develop a better appreciation for it. Those who are knowledgeable in auditing are more likely to obtain higher positions in a company because they will be able to communicate better with outside auditors. Either way students will be better prepared to pursue their studies in auditing and use the course as a step towards preparing for the uniform CPA examination, if they choose to be certified.

Students will be expected to participate in the class discussions and assignments and successfully complete the quizzes in order to pass the class.

Previous accounting experience is necessary to enroll in the course.

The ultimate goal of this course is to guide and motivate students to consider becoming an auditor as a lifetime career. Those knowledgeable in auditing stand to get better positions in a company because they will be able to better communicate with outside auditors. Students can also use the class as a tool to evaluate their skills.

Students are required to read through all the class lessons and complete the assignments and quizzes. Net links are also given throughout the lessons for students to visit and read additional material dealing with the field of auditing.

There will be a total of 4 end-of-lesson quizzes and 5 assignments. Students will be graded on the quizzes only. The assignments will also count towards your final grade as class participation. An overall minimum of 70% is needed to successfully complete the course. The quizzes will be in the form of multiple choices, true/false, fill in the blanks and essay type questions. These will add up to a total of 100 points. The assignments will be reviewed by the instructor and graded on a judgmental basis.

1) What is this class about? This is an introductory course to auditing. It is designed to guide and motivate students to consider becoming Certified Public Accountants (CPAs).

2) Why should I take this course? Those who successfully complete the course will feel confident about his or her auditing skills and may want to continue down the path to becoming a CPA.
The course also allows anyone to analyze their skills and decide whether or not this is the right field for them.
After successful completion of the course, students will have a broader view of the auditing process and maybe qualified to perform minor services and assist auditors in a CPA firm. However it is highly recommended that the student continue his or her study in auditing either in college or through an accredited school.

3) Does this course require any previous education or experience? Yes! Although the course is entry-level, some prior introductory exposure to accounting is necessary.

4) How does one complete this course? Besides regular class participation and doing the assignments, students will need to complete 4 end-of-lesson quizzes and obtain an overall minimum of 70% to successfully complete the course.

5) What is your specific grading policy? There will be a total of 4 end-of-lesson quizzes. The assignments will count towards your final grade as part of class participation. They will be graded by the instructor on a judgmental basis. Students will need an overall minimum of 70% to complete the course. The quizzes will be in the form of multiple choices, true/false, fill-in the blanks and essay-type questions. These will add up to 100%. The assignments are designed for research and to give students links for finding additional material on the subject.

6) Am I allowed to retake the quizzes and the final? No. The material has been carefully organized to give students a good understanding of the basic auditing principles. Though the quizzes are challenging, they are designed to get students thinking about the CPA exam. The questions on the CPA examination have a high degree of difficulty; so students are encouraged to do their best if they decide to go down that path.

7) What will I get for successfully completing this course? Upon successful completion of the course, you will have the option of buying the following certificates and letters:

- Attendance

- Class participation

- Appreciation

- Merit

- Outstanding achievement

- Academic excellence

- Letter of reference

8) How can I learn more on this subject once I complete this course? Net Links are of course given in the course for you to explore and learn more on the subject.