Discusses generally accepted auditing standards (GAAS) and procedures used by the external auditor. It presents an integrated concepts approach that shows students the auditing process from start to finish. It students for real-world audit decision making by using illustrative examples of key audit decisions, with an emphasis on audit planning, risk assessment processes and collecting and evaluating evidence in response to risks. Topics include: Professional ethics, Professional responsibility, and legal liability of the external auditor. Audit concepts such as auditor's independence, fair presentation, and due professional care are emphasized. Internal control evaluation and design of audit programs; Collection of audit evidence including statistical sampling and analytical review; Evaluation of audit evidence; arriving at audit opinions. Development of working papers and audit reports. Assurance services. Uses of the computer as an audit tool. Utilization of generalized audit software packages. Information Technology and the audit process.

Pre-requisites: ACCT300