Delaware County Community College, Serving Delaware and Chester Counties

ACC 254 - Auditing

Course Description

An intensive course that integrates accounting standards, accounting systems, internal accounting controls, and the dual auditing functions of investigating and reporting all within the context of the professional practices environment.

Upon successful completion of this course, students should be able to:

Define and discuss the social functions of auditing, the structure of authoritative standards, professional ethics and legal liability.
Discuss the conceptual structures that underlie the audit process by establishing the linkage between the risk of material misstatement of financial statements and the evidence that the auditor gathers to reduce audit risk to an acceptable level.
Discuss the planning phase of the audit engagement.
Describe the study and evaluation of internal accounting controls.
Describe common substantive audit tests for items such as cash, inventory and accounts receivable.
Prepare various types of reports that can be issued in an audit of financial statements.
Prepare special reports such as forecasts and projections.
Discuss compilations and review services for nonpublic companies.

Credit Hours: 3
Lecture Hours: 3


Course Prerequisites: ACC 252