Auditing Essay Example for Free

Auditing EssayCourse TextsPrentice H exclusively Auditing and Assurance Services An Integrated Approach 15th edition. Arens/Elder/Beasley (Required) Please accept your text curb to each class sessionClass HoursMonday / Wednesday 830 950 a.m. 119 Eppley sum of moneyMonday / Wednesday 1020 1140 a.m. 119 Eppley CenterMonday / Wednesday 1240 200 p.m. 119 Eppley CenterOffice HoursMonday 230 400 p.m., N227 BCCWednesday 230 400 p.m., N227 BCCOther hours usable by appointment ( interest 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 handle grades and otherwise more confidential matters. Our course consultant give be procurable on a regular basis for detailed strong/scoring questions.Course ConsultantJohn Kure (emailprotected)In addi tion to my office hours, John depart 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 othercourse-related matters at the following times TBDCourse Web pageThe course has a web page in Desire2Learn, and you should check it often. The course consultant and I will make use of 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 victimization the Gradebook feature on this site.POLICIES FOR CONDUCT OF THE COURSE1. BROAD OBJECTIVES OF THE COURSEThe overall objective of this course is to friend 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 t echnical and application auditing skills, including evidence accretion 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 OBJECTIVESThis course is think 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 pas s 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 careerDemand for audits and attestations.Audit risk model.Concept of materiality.Assessing inherent risk.Assessing control risk.Audit evidencea) planning.b) the role of sample evidence.c) evidence collection.d) evidence evaluation. inform requirements.Quality assurance of the audit process.Auditing environmenta) professionalism and self regulation.b) external regulation.3.CLASS FORMATAuditing is a challenging and demanding profession. To provide coverage of a significant amount of material and to allow for nimble knowledge, the class meetings will be held assuming you have read the assigned material prior to class and are prepared to carry to class discussions every session. The textbook and readings should give you a fundamental understanding of the topic before we discus s it in class. Please feel free to gain every questions you have about the material before, during, or after class.Class meetings will consist of a combination of lecture, open discussion, and a number of active learning opportunities. Meeting time will allow for discussion of current topics and student questions and concerns. Additionally, time will be spent on active learning opportunities thatinclude, but are not limited to, preparedness problems, in-class classify assignments, case studies, quizzes, and exams.4.REQUIRED COURSE MATERIALSYou will need to purchase the textbook as described above under Course Text. Previously used packages may not contain the required problems and/or worksheets. Case work will be provided in your book or by instructor. No purchase is necessary for case work.5. GRADINGFinal grades will be based upon your points earned in relation to the pith points available. Some of these points will be awarded based on your individual performance on exams. How ever, since auditing is a team effort in the real world, you will be organized into teams of 3 or 4 for some group assignments. Group members are expected to be conscientious and fully committed to sharing group work. Upon agreement of the other group members, and after meeting with me, a group member who is not adequately participating may be removed from the group. That psyche will then be required to pass with flying colors the group assignments individually, and I will reserve the right to penalize project points equal to one letter grade. Total points will be distributed as followsGrading Scale The final grade for this course will be based upon a curve. (No particular accumulation of points constitutes a 4.0 or a 2.0 for example.) This is a competitive grading scale based course.QUIZZESYou will be given 5 in-class quizzes during the semester. each quiz is expenditure 10 points. The quizzes may consist of true/false questions, multiple-choice questions, and/or matching. Quizz es will begin promptly at the beginning of class. Latecomers will NOT be given unnecessary time. Absentees will NOT be given make-ups, except in certain PRE-APPROVED, school-related instances. Quizzes cannot be made up after the fact for any circumstance.Your lowest quiz grade will be dropped at the end of the semester.WRITING ASSIGNMENTSYou will be asked to complete 5 in-class writing assignments throughout the semester. Each writing assignment is worth 10 points. The writing assignments will be graded based on effort. These in-class writing assignments may be done at the beginning of class to lead us into discussion of a certain topic, or they may be done at the end of class to help me assess your understanding of material/case study that we have covered in class or they may deem place during the class in groups to stimulate discussion.Your lowest in-class writing assignment grade will be dropped at the end of the semester.GROUP PROJECTYou will work in groups of 4-5 to complete a group project. Details about the project assignment will be given mid-semester, and work on the project should be on-going throughout the difference of opinion of the semester. The project will be worth a total of 40 points.EXAMSThree exams will be given during regular class time. Makeup exams will not be given unless odd circumstances are involved. To the extent it is possible, you will be expected to notify me before the scheduled exam if an extraordinary circumstance exists.Exams will be composed of some combination of multiple-choice questions and short answer non-multiple-choice questions, patterned after the auditing portion of the CPA examination.The exams are designed and graded to evaluate your understanding of the auditing concepts and your ability to communicate the results of your analysis of the textbook, class projects, homework assignments, and any class discussion.HomeworkAlthough not assigned graded points, the suggested homework problems can be helpful to hold your understanding of the material. You may visit the course consultants office hours to see solutions to these problems if you would like to tackle this extra work.6.POINTS OF EMPHASISAcademic Honesty and IntegrityYou are responsible for adhering to the University guidelines on Academic Honesty and Integrity and to The Eli Broad College of Business Undergraduate Honor Code, available in its entirety at http//www.bus.msu.edu/information/news.cfm?newsid=767. According to the Code, it applies to all undergraduate students enrolled in the College orin any course sponsored by the College. Thus, as a student in ACC 411, you are required to review, comprehend, and abide by the Code. The penalties for a violation of the University guidelines and/or the Code can be quite severe.Unless explicitly indicated otherwise, all graded assignments are expected to be the result of your original work. Academic dishonesty will be dealt with in the harshest manner available within the University or Col lege guidelines. Should you have any questions about this policy, please see me immediately.Quality and Neatness of WorkAll work submitted in this class is subject to a penalty for sloppy presentation, poor writing, and other characteristics which detract from the professionalism expected from auditors. ACC 411 is an upper level course for accounting majors, and it is possible that it will be the only course you take related to auditing prior to starting your professional career. As such, I expect your work to reflect your preparation for professional careers. company and Other Classroom ConsiderationsParticipation and attendance are considered highly important in this class. I will not take attendance each day however your attendance and engagement will be noted and taken into account. I do expect that if you attend class you will be present for the entire class. I will consider tardiness, early departures and use of electronic devices when calculating your attendance, participat ion and professionalism score. If you will be late to the start of class or need to depart early, please let me know ahead of time as a courtesy.Religious HolidaysI respect religious observances and have made allowances in the syllabus toensure that students are not penalized for missing some class days (i.e., I count the top 4 of 5 quizzes/writing assignments). However, please notify me at the beginning of the semester if you expect a conflict on exam days.Final ExamPer the Universitys Final Exam PolicyA student indifferent from a final examination without a satisfactory explanation will receive a grade of 0.0 on the numerical system, NC on the CR-NC system, or N in the case of a course authorized for grading on the P-N system. Students unable to take a final examination because of illness or other reason over which they have no control should notify the associate deans of their colleges immediately.Social MediaAs members of a learning community, students are expected to respect t he knowing property of course instructors. All course materials presented to students are the copyrighted property of the course instructor and are subject to the following conditions of use1. Students may book of account lectures or any other classroom activities and use the recordings only for their own course-related purposes.2. Students may not share the recordings with other students enrolled in the class. Sharing is limited to using the recordings only for their own course-related purposes.3. Students may not post the recordings or other course materials online or distribute them to anyone not enrolled in the class without the advance compose permission of the course instructor and, if applicable, any students whose voice or image is included in the recordings.4. Any student violating the conditions described above may type academic disciplinary sanctions.