Student Learning Outcome

Student Learning Outcome #$1-$ Explain auditing terminology, concepts, principles, and frameworks.

Objectives: Key Knowledge & Skills

This capstone project will expose you to actual audit reporting practices in use today. Through critical review and research, you will gain deeper insights into auditing of public companies and the auditor's responsibilities under auditing standards. The project is designed to integrate and apply the knowledge and skills you have acquired throughout the semester. This project will help you understand the practical aspects of auditing, including risk assessment, internal controls evaluation, audit procedures, and report writing.

Gain experience analyzing actual audit reports and developing insights

Discuss current auditing practices employed by major accounting firms

Evaluate audit report components and assess compliance with auditing standards

Project Requirements:

Company Selection

Identify $4$ major public companies across different industries

Ensure the companies have recently issued annual financial statements and audit reports $($within the last year$)$Try to select a mix of national$/$Big $4$ audit firms and company sizes.$$ Do not select companies that were audited by the same firm.$$ For example, do not select companies that were all audited by PwC$.$

Obtain Audit Reports

From the company's investor relations website or SEC$$s EDGAR database website, locate and download the most recent annual report which includes audited financial statements and the audit report