Audit and Assurance I

The primary focus of this course is to develop students’ working knowledge of the key elements, standards and professional obligations essential to auditing and assurance engagements in Canada. Students will examine the role of the public accounting profession and the legal, ethical, and regulatory framework within which auditors operate. The course will emphasize the planning stage of the audit process, including accepting new clients, planning audit engagements, determining materiality, and developing an overall audit strategy. Students explore the various techniques used by auditors to identify, evaluate, and respond to audit risks, with particular attention to the relationships among audit risk, materiality, professional judgment, and the nature, timing and extent of audit evidence. Emerging issues related to auditing, including the influence of technology and data analytics on audit processes, are also examined. Upon completion of this course, students will be able to interpret and apply Canadian assurance standards to audit-planning decisions and demonstrate informed, ethical, and professional judgment during the audit process.