vcc.ca
ACCT 2040: Introduction to Auditing
Effective date
January 2025
Department
Accounting Diploma
School
Hospitality, Food Studies and Applied Business
Description
Students explore the principles, practices, and techniques involved in auditing and gain a comprehensive understanding of the role of auditors and the audit process. Topics covered include audit planning, risk assessment, evidence collection, internal controls, and reporting. Through case studies and practical examples, students develop critical thinking skills and learn how to apply auditing concepts in real-world scenarios.
Credits
3.0
Year of study
2nd Year Post-secondary
Prerequisites
ACCT 1045.
Corequisites
None
Course Learning Outcomes
Upon successful completion of this course, students will be able to:
- Explain the role and importance of auditing in financial reporting and corporate governance
- Apply auditing standards, guidelines, and ethical considerations
- Identify the different types of audits, including financial audits, operational audits, and compliance audits
- Demonstrate techniques for assessing and managing audit risk
- Explore methods for obtaining and evaluating audit evidence
- Interpret the concept of internal control and its significance in the audit process
- Discuss the emerging trends and challenges in the auditing profession
Prior Learning Assessment & Recognition (PLAR)
None
Hours
Lecture, Online, Seminar, Tutorial: 45
Total Hours: 45
Total Hours: 45
Instructional Strategies
Lectures, Demonstrations, Group Work, Project Work
Grading System
Letter Grade (A-F)
Passing grade
C
Evaluation Plan
|
Type |
Percentage |
Assessment activity |
|
Assignments |
40 |
Auditing principles and practices |
|
Project |
10 |
Case studies |
|
Midterm Exam |
20 |
|
|
Final Exam |
20 |
|
|
Participation |
10 |
Class participation, discussion evaluating critical thinking and engagement |
Course topics
- Definitions and Objectives of Auditing
- Ethical Considerations in Auditing
- Auditing Standards and Guidelines
- Types of Audits
- Audit Planning and Risk Assessment
- Evidence Collection
- Internal Control and Audit Testing
- Audit Reporting
- Emerging Trends and Challenges in Auditing
- Technology Advancements in Auditing
- Interpreting Audit Findings
Notes:
- Course contents and descriptions, offerings and schedules are subject to change without notice.
- Students are required to follow all College policies including ones that govern their educational experience at VCC. Policies are available on the VCC website at:
https://www.vcc.ca/about/governance--policies/policies/. - To find out if there are existing transfer agreements for this course, visit the BC Transfer Guide at https://www.bctransferguide.ca.