Course

Course Summary
Credit Type:
Course
ACE ID:
MACI-0065
Organization's ID:
5886
Organization:
Management Concepts, Inc.
Location:
Classroom-based
Length:
3 days, 21 hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 1 Accounting or Business Administration
Description

Objective:

To provide the knowledge and skills to meet the basic requirements for federal financial statement audits, and to probe the sources of information and guidance related to them.

Learning Outcomes:

  • Analyze the impact of legal requirements, standards, guidance, and accounting principles on the preparation and audit of federal agencies' financial statements
  • Apply current audit techniques to assess internal control risks and assure a proper audit plan
  • Assure that audit reports meet all current requirements
  • Discuss current form and content of statements
  • Differentiate among audit procedures performed in the four audit phases
  • Perform required audit tests to identify non-compliances, illegal acts, or fraud

General Topics:

  • Why and how to audit
  • Overview of the audit approach
  • Federal accounting and financial statements
  • The planning phase
  • Internal controls
  • Fraud, illegal acts, other noncompliance, and abuse
  • The reporting phase
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Classroom Exercise
  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
Supplemental Materials