ACC 491 Syllabus

Topics: Auditing, Internal control, Audit Pages: 7 (1444 words) Published: November 25, 2014
ACC/491 Contemporary Auditing I

Copyright ©2014 by University of Phoenix. All rights reserved.

Course Description
This course is the first in a two-part series that deals with auditing a company's financial reports, internal controls, and Electronic Data Processing (EDP) systems. Topics include auditing standards, evidence, audit planning and documentation, materiality and risk, internal control, statistical tools, and the overall audit plan and program.

Course Dates
Nov 11, 2014 - Dec 15, 2014

Faculty Information
Name :
Email Address :
Alternate Email Address

Dwayne Thompson (PRIMARY)

Phone Number :

(678) 538-7276

Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents (both located on your student website): • Academic Policies

University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality.

Get Ready for Class
• Familiarize yourself with the textbooks used in this course.

Course Materials
All electronic materials are available on your student website.

Nov, 11 - Nov, 17

Auditing and Assurance
• Review the Week One Read Me First.

1.1 Explain the nature and functions of auditing.
1.2 Identify the organizations that affect the public accounting profession. 1.3 Compare and contrast auditing, attestation, and assurance service standards. 1.4 Describe the elements of Generally Accepted Auditing Standards. 1.5 Explain the Sarbanes-Oxley Act and its application to audits.

Required Learning Activities
• Modern Auditing, Ch. 1
• Modern Auditing (up to A Clean Bill of Health?), Ch. 2
• Modern Auditing, Ch. 4
• Modern Auditing (up through “Form and Document Conclusions” section), Ch. 5 • Week One Electronic Reserve Readings
• What is Sarbanes Oxley?
• Week 1 - Discussion Question (#1)
• Week 1 - Discussion Question (#2)
• Week 1 - Discussion Question (#3)
• General Instructor's Policies

See the student website for additional recommended learning activities that may help you learn this week's concepts.





Week One Participation

Individual Nov 17, 2014 11:59 PM


Individual Nov 17, 2014 11:59 PM


Participate in the class discussion.
Generally Accepted Auditing Standards Paper
Write a 700- to 1,050-word paper in which you explain the nature and functions of auditing. Relate your explanation to the audit functions in your organization, or an organization with which you are familiar. In your paper, be sure to address the following:

• Describe the elements of the Generally Accepted Auditing Standards (GAAS).
• Describe how these standards apply to financial, operational, and compliance audits.
• Explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB), will have on audits of publicly traded companies.
• Discuss the additional requirements that are placed on auditors from this Act, and the actions of the PCAOB.
Click the Assignment Files tab to submit your assignment.

Nov, 18 - Nov, 24

Materiality, Audit Risk, and Evidence
• Review the Week Two Read Me First.

2.1 Explain the application of materiality, audit risk, and evidence to an audit. 2.2 Explain how an auditor assesses an entity’s business risks. 2.3 Analyze the types and reliability of audit evidence.

2.4 Prepare an engagement letter.
2.5 Formulate audit objectives based on financial statements and management assertions.

Required Learning Activities
• Modern Auditing, Ch. 6
• Modern Auditing, Ch. 7
• Modern Auditing, Ch. 9
• Week Two...
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