BSA-114 is designed to expose students both to the demand for and the supply of the profession's flagship service- financial statement audits- and to the nature of the value-added services which decision makers demand in the information age. Topics include: nature of the accounting profession, auditing and assurance fundamentals: relationship among assurance, attestation and audit services; consulting vs. assurance services; types attestation services (agreed-upon procedures engagement and review engagement); types of audits (internal, external or financial statement audits, government audit, and special purpose audits); relationship of accounting and auditing; other services (operational audits, compliance audits, and non-attest services); professional standards: assurance standards and attestation and auditing standards; public sector regulation of accounting practice and legal liability; the framework of financial statements auditing: risk-based approach as audit methodology; audit evaluation and planning, including the concept of risk and materiality; assessing internal controls, and test of controls including internal controls in computer-based business systems; performance of an audit; evidence collection, analysis, and substantive tests: reporting: reports on assurance services, attestation services and financial statement audits; and completing the audit including communications with board of directors and management concerning internal control weaknesses. Also discussed in detail are the basic professional values and the Code of Ethics for Professional Accountants and SEC's Code of Corporate Governance