This course is designed to provide an understanding of the basics of audit theory/assurance concepts and practice. Evaluation of audit evidence to support a professional opinion on financial statements, generally accepted auditing standards, Canadian Auditing Standards (CAS), Other Canadian Standards (OCS) and other topics will be covered in order to develop this understanding. The CPA Canada Assurance Handbook will be used extensively as a primary technical source. Case simulations will be used to help integrate the theoretical and applied aspects of auditing. Since a significant focus of auditing is on financial statements, it is presumed that students will have a good understanding of the Canadian financial reporting framework, more specifically, ASPE and IFRS.

This course is strongly linked to the pervasive qualities outlined in the Chartered Professional Accountant Competency Map and the CPA Competency Map Knowledge Supplement. Students will be placed in case situations where they will be required to make decisions as professional accountants. Thus, the course will instill ethical behaviour and professionalism, all while developing the appropriate professional skills that are required of a professional accountant.