Emphasis in Auditing

We are pleased to offer an Emphasis in Auditing and Assurance. Students who pursue the Emphasis in Auditing take 9 credits of advanced auditing courses. Three of these credits must include Advanced Auditing and Audit Research, which is offered in the fall semester.

Advanced Auditing and Audit Research

3 credits

Expands and integrate knowledge of U.S. and international generally accepted auditing principles (GAAS) in a rigorous study of financial reporting issues with significant balance sheet implications. Topics include advanced treatments of analytical procedures, audit planning, risk assessment, internal controls, audit evidence, audit documentation, and auditing fair. Incorporates related academic research, research into auditing standards, and contemporary auditing issues.

Additional credits are acquired in the spring semester. Students may choose from the following:

Auditing Information Systems

3 credits

Develops in-depth knowledge about conducting an information systems audit, developing frameworks for management and application control, using audit software, conducting concurrent auditing techniques, evaluating data integrity, system effectiveness, and system efficiency. Also introduces: technical security controls to prevent, detect, respond to, and recover from cyber-attacks; risk and vulnerability analysis to select, design and evaluate security controls; and legal, ethical, and privacy aspects of information assurance.

Contemporary Issues in Financial Reporting

3 credits

Expands and integrates knowledge of U.S. and international generally accepted accounting principles (GAAP) in a rigorous study of current financial reporting issues under discussion by regulators, standard-setters, and the broader accounting profession.

Financial Statement Analysis

3 credits

This course introduces students to the elements of financial statement analysis and increases students' ability to extract and use information from financial reports. While financial statements are prepared in accordance with specific accounting rules and principles, most of the numbers in financial statements are based on a set of assumptions and choices made by management. In this class, students learn how to identify and adjust for the effects of accounting choices on the comparability of reported earnings and other accounting performance measures across countries, across firms, and over time. Students also learn how to evaluate circumstances where accounting rules can cause disruptions in trends making it difficult to forecast earnings and free cash flows. In addition, students learn techniques to identify earnings management, as well as assess whether the financial statements reflect the riskiness of the firm. Finally, because many large companies operate in a global environment, the class will examine problems created by differences in accounting standards across countries (e.g., U.S. Generally Accepted Accounting Principles versus International Financial Reporting Standards), as well as issues inherent in multinational companies such as how foreign currency affects financial statements.

Forensic Accounting

3 credits

This course is an introduction to forensic accounting. Forensic accounting encompasses those services an accountant provides to assist a court or a client in settling a legal dispute and includes the following specialized knowledge and skills:

  1. Accounting, auditing, economics, finance, business law, quantitative methods, statistics, tax
  2. Investigative skills to collect, analyze, and evaluate evidential matter
  3. Written and oral communication skills

The content of this course will include:

  1. Fraud and fraud investigation services
  2. Commercial and individual litigations and litigation consulting services
  3. Computer forensics
  4. Business valuation

To illustrate concepts, the class will discuss recent high profile cases (e.g., investment funds such as Madoff, and financial statements frauds such as WorldCom, Enron, etc.). Guest speakers who possess specialized expertise will present on such topics as fraud investigation, interviewing and interrogation techniques, cybercrime and digital forensics analysis, and the legal environment.

Governmental and Not for Profit Accounting

3 credits

This course is designed to expose graduate business students to the financial accounting and auditing issues related to state and local governmental and not-for-profit organizations in the United States. Students will review the body of accounting and auditing literature, specifically related to organizations in the public sector. Due to time constraints, Federal government accounting will not be addressed.