ACT 445 Internal Auditing Course Notes

Topics: Auditing, Internal audit, Internal control Pages: 15 (3699 words) Published: September 21, 2013
Required Text:
Reding, Kurt F., Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sri Ramamoorti, and Mark Salamasick, Cris Riddle, Internal Auditing: Assurance & Consulting Services, Second Edition, Institute of Internal Auditors, 2009.

Course Catalog Description:
The philosophy and practice of modern internal auditing techniques with the emphasis on providing managers with definitive information about situations which might interfere with the accomplishment of the organization’s goals and with feedback concerning extraordinary accomplishments.

Course Objectives:
To develop an understanding of auditing standards, techniques and reporting; to prepare for certain sections of the Certified Internal Auditor (CIA) examination; and to develop professional skills and explore various career paths.

Topics Covered:
This course is developed around the actual internal audit process, how internal audit affects and contributes to the organization, and the general background of the internal audit profession. In addition, the integration of internal audit activities with external auditors and the PCAOB requirements related to internal control will be explored.

Common Body of Knowledge:
Areas covered include: written and oral communication (C); technology (T); ethics (E); interpersonal skills (I); analysis (A); diversity (D); and the regulatory environment (R). The common bodies of knowledge associated with each assignment appear after the assignment on the syllabus.

Method of Instruction:
The course will consist of online content, discussions and case studies designed to provide a comprehensive understanding of internal auditing and internal control requirements. Students will be expected to research relevant standards and participate actively in class discussions. Both two individual and a group case studies will be required. See Discussion area of Blackboard for class discussions.

Assignments:
On Blackboard under Course Content is your key source of online support! Follow the instructions in the Modules and review PowerPoint presentations for reinforcement of text materials. It is essential that you read the chapters and assigned material on pace with class activities. Students should be prepared to participate in the online discussions. Please submit only your own work! Integrity is a key character trait of the internal auditor.

Methods of Evaluation:
There will be two exams, a mid-term exam and a cumulative final exam. The exams may consist of multiple choice, short answer and/or essay questions. Exams must be taken when scheduled. No make-up exams will be given. Very rare exceptions may be made in the event of extraordinary circumstances approved by me in advance. In addition, one group case study and two individual case studies will be required. Due dates will be communicated in class. Required Text:

Reding, Kurt F., Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sri Ramamoorti, and Mark Salamasick, Cris Riddle, Internal Auditing: Assurance & Consulting Services, Second Edition, Institute of Internal Auditors, 2009.

Course Catalog Description:
The philosophy and practice of modern internal auditing techniques with the emphasis on providing managers with definitive information about situations which might interfere with the accomplishment of the organization’s goals and with feedback concerning extraordinary accomplishments.

Course Objectives:
To develop an understanding of auditing standards, techniques and reporting; to prepare for certain sections of the Certified Internal Auditor (CIA) examination; and to develop professional skills and explore various career paths.

Topics Covered:
This course is developed around the actual internal audit process, how internal audit affects and contributes to the organization, and the general background of the internal audit profession. In addition, the integration of internal audit activities with external...
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