Course Description
Concepts underlying audit process, procedures used in external auditing, statistical application, preparation of audit programs, and reports. Use of audit software to conduct control risk assessment and substantive tests. Prerequisite: ACC 519, ACC 525.
Syllabus
Student Learning Outcomes, Goals, Objectives:
Students successfully completing this course will be able to:
- Understand basic auditing concepts: risk identification and response; client acceptance and continuance, sampling, controls evaluation and testing, and substantive testing.
- Understand the role of auditing in business organizations and other entities and the impact of auditing on the economy.
- Learn how public accounting firms operate and how quality control procedures are applied.
- Apply generally accepted auditing standards – the course will emphasize how to identify issues and to research solutions.
- Understand the AICPA Code of Professional Conduct and its application to ethics in the auditing profession.
- Gain a basic understanding of other assurance services, including the auditor’s role in sustainability initiatives (e.g., corporate social responsibility reporting).
- To help you to develop as a professional.
Course Grading Information:
| Activity/Performance Measure | Percentage/Points |
|---|---|
| Exam #1 | 75 points |
| Exam #2 | 75 points |
| Exam #3 | 75 points |
| Final Exam | 100 points |
| Participation | 25 points |
| Ethics quiz | 10 points |
| HW quizzes | 35 points |
| Audit case and data problem | 80 points |
Course grades are determined as follows:
Grading Scale
| Percentage | Letter Grade |
|---|---|
| 92.6% | A |
| 89.5% | A- |
| 86.3% | B+ |
| 83.2% | B |
| 80.0% | B- |
| 76.8% | C+ |
| 72.2% | C |
| 68.9% | C- |
| 66.3% | D+ |
| 63.2% | D |
| 58.9% | D- |
| <58.9% | F |
Attendance/Participation:
Attendance/participation is not a graded component included in the student's final grade for this course.
Course Materials Purchased by the Students:
- Auditing and Assurance Services: An Integrated Approach, 18th edition, by Arens, Elder, Beasley, and Hogan (note this is provided by the bookstore under the First Day inclusive access program but you may opt out). Print rental ISBN-13: 978-0-13-810306-4 Digital ISBN-13: 978-0-13-787919-9
- Integrated Audit Practice Case, 8th edition, by Kerr, Elder, and Lively (ISBN No. 978-0-912503-91-d). You should receive an access code for this as part of the First Day program.
Scholarly Perspectives
This course engages diverse scholarly perspectives to develop critical thinking, analysis, and debate and inclusion of a reading does not imply endorsement.