MN4520 Internal Control and Audit

This course provides an introduction to the objectives of and activities related to internal control and audits, including design and evaluation of internal controls, auditing standards, audit reports, audit evidence, and audit tests. The course includes an overview of audits of financial reports and records and of government operations, with attention given to Government Auditing Standards.

Prerequisite

MN3051 or MN3056 or MN3156

Lecture Hours

3

Lab Hours

0

Course Learning Outcomes

By the end of the course, students will be able to:

• Formulate and examine audit tests and controls.
• Summarize the role of OMB A-123 and Generally Accepted Government Auditing Standards (GAGAS) in government internal control and audit.
• Illustrate the reporting obligations and responsibilities of management to their stakeholders.
• Interpret audit readiness and evaluate fraud issues related to government operations.
• Interpret the methods used to test internal controls.