Auditing: Final Examination and Course

Topics: Final examination, Auditing, Grade Pages: 6 (1968 words) Published: September 21, 2014
 ACC 411
Auditing
Fall 2014

Instructor: Dr. Matthew J. Beck
Office: N227 Business College Complex (BCC)
Office Phone: 884-7611
E-mail: beckm@broad.msu.edu
Course Web Page: d2l.msu.edu
Course Texts:
Prentice Hall – Auditing and Assurance Services – An Integrated Approach 15th edition. Arens/Elder/Beasley (Required) Please bring your textbook to each class session

Class Hours:
Monday / Wednesday 8:30 - 9:50 a.m. 119 Eppley Center
Monday / Wednesday 10:20 - 11:40 a.m. 119 Eppley Center
Monday / Wednesday 12:40 - 2:00 p.m. 119 Eppley Center

Office Hours:
Monday 2:30 – 4:00 p.m., N227 BCC
Wednesday 2:30 – 4:00 p.m., N227 BCC
Other hours available by appointment (please contact me to arrange an appointment.) During the week I check email constantly and am highly responsive. This is often times the best way to get a quick response. I can make individual appointments to meet with you during times when I am on campus if you want a one-on-one appointment to discuss grades and other more confidential matters. Our course consultant will be available on a regular basis for detailed material/grading questions.

Course Consultant:
John Kure (kurejohn@msu.edu)
In addition to my office hours, John will be accessible to meet with you during the course. He will be available to answer your questions about grading as well as to provide advising and consultation regarding other course-related matters at the following times: TBD

Course Web Page:
The course has a web page in Desire2Learn, and you should check it often. The course consultant and I will use this site to communicate with the class periodically during the semester. The page will also include a number of assignments and other relevant and important course materials. We plan to track your grades using the Gradebook feature on this site.

POLICIES FOR CONDUCT OF THE COURSE

1. BROAD OBJECTIVES OF THE COURSE

The overall objective of this course is to help each student obtain the skills, knowledge, and attitude to maximize the likelihood of practicing successfully after graduation. This overall objective is to: Aid in preparing you for the auditing section of the CPA exam. Develop technical and application auditing skills, including evidence accumulation and workpaper documentation. Practice communication skills in the context of auditing practice. Learn about a business approach to auditing which emphasizes relevance of general business and environmental knowledge awareness. Develop professional judgment in materiality and risk assessment, in ethical conduct, in the application of generally accepted auditing standards, and in the determination of sufficient competent evidential matter.

2.SPECIFIC OBJECTIVES

This course is intended to be an introduction to the audit process and the role of auditing in organizations and in financial markets. It will not make you an auditor – that comes only with extensive experience – and it will not specifically prepare you for the auditing section of professional exams (e.g., CPA, CIA, etc.). However, the course should provide you with the basic knowledge so that, with additional self-study or by taking a review course, you will pass the auditing components of those exams.

We will be studying the following topics, with the objective of gaining a sufficient understanding of each to enable you to apply, evaluate, and use them throughout your career: Demand for audits and attestations.

Audit risk model.
Concept of materiality.
Assessing inherent risk.
Assessing control risk.

Audit evidence:
a) planning.
b) the role of sample evidence.
c) evidence collection.
d) evidence evaluation.
Reporting requirements.
Quality assurance of the audit process.
Auditing environment:
a) professionalism and self regulation.
b) external regulation.

3.CLASS FORMAT

Auditing is a challenging and demanding profession. To provide coverage of a significant...
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