The broad objectives of this course are: 1) To develop your understanding of the decisions made and methods used by auditors when verifying management's assertions in corporate financial statements; 2) To obtain an appreciation of the role of the auditing profession in a changing society with the ability to critically evaluate current issues facing auditors and the auditing profession; 3) To further develop problem solving, critical thinking, analytical skills professional judgment and professional skepticism; 4) To enhance your business acumen (systems, controls, risk, etc.) 5) To expand your integrative thinking and abilities; 6) To continue to develop your enabling competencies; 7) To obtain a greater understanding of the general assurance framework and assurance standards; and 8)To obtain a greater knowledge of specific assurance topics such as data management and analysis.

To describe this course in another way, MGT2225H is "MGT1323 plus plus plus.." The first plus — is to add a second layer to auditing technical knowledge previously acquired. This involves revisiting the core materials covered in MGT1323H and adding more illustrations and more professional judgment to certain core materials. The second plus — is to integrate more accounting and more unusual assurance situations. The third plus is to bring in special topics such as standard setting; auditing not-for-profit organizations along with other assurance services. Each “plus” adds layers to the basics acquired in 1323 — what is sometimes referred to as “layered learning” and further develops your technical and enabling competencies.

Auditing is more than just knowing technical material. A good auditor has high-level thinking skills to exercise judgment and apply, analyze, synthesize, and evaluate information effectively. This course will provide a solid framework to organize your thinking. This course presumes that students have acquired a conceptual base in accounting and auditing in their preceding courses and are prepared to deal with more complex issues. This course will build on the technical sections of the CPA Handbook — Assurance (and Accounting), and current developments in assurance in Canada and internationally.