ACCT 230 | Audits and the Audit Committee

Overview

The word “audit” has been known to produce panic, fear, and uncertainty – but audits are simply a factor in proper financial oversight.

In this course, you’ll learn just what audits are, including how they can help you improve your operations and better serve your mission, and the important role of the audit committee: your organization’s liaison to the independent external auditor, and a conduit to the internal control structure that mitigates risks such as error and fraud.

This class was formerly numbered as ACCT 240. It has been changed as part of a restructuring of NU’s Finance and Accounting courses to better reflect the content level and intended audience.

Learning Objectives

• Define what an audit is.
• Determine whether your organization needs an audit.
• Follow best practices for a successful audit, including choosing an auditor, understanding the Auditor’s Report, and working with your board audit committee.