ACCT 860 Allegations of Audit Failure

This course provides an overview of the auditing process, including the regulations that govern this practice. Next, there will be discussions on professional ethics, legal liability, and expectations. The course will then discuss the major issues associated with auditing that puts the professional’s reputation on the line. There will be case studies of companies where auditors have failed in their duties and the thrust given to them by the public, and how these failures have resulted to bankruptcies for certain large corporations.

Learning Outcomes:
1. Gain knowledge about the auditing process as whole and the importance of adhering to regulations.
2. Appreciate the necessity of following the ethical conduct required from auditors and how violating them could affect one’s practice and the fate of an organization.
3. Relate how failures in the auditing process have led to problems for companies like Enron and Worldcom.
4. Learn from the mistakes of the past and develop ways to prevent them in their future practices.