This course is designed to present the fundamental concepts and
theories in auditing and promote the application to the workplace and professional
practice. Course activities will include instructor presentations, required
readings and experiential learning activities (i.e. case studies, group
discussions, projects, etc.).
Each assignment is worth 60 marks and accounts for 20% of your overall grade. There are 5 assignments worth 4% each. Assignment due dates are posted to your assignment schedule. Students may elect to submit assignments ahead of schedule. Assignments must be submitted no later than the posted due date. Penalties will apply to any/all late submissions. Assignments received 5 days after the due date will receive a grade of zero. The submissions must be in word or other standard Microsoft document applications and be submitted through the dropbox. Please do not scan and send assignments.
A comprehensive case must be submitted no later than the day of the final examination. Each student will prepare and submit a paper on a topic covered with the course. The paper will be a maximum of 10 single-spaced pages (including exhibits) (20 pages double-spaced). The paper will have one inch margins on all sides and be written in Times New Roman 12 point font. Students will complete a one –page outline, including an itemization of planned content, and submit it by the 5th week in the course.
This auditing course can be very challenging because it may require you to look at things from different perspectives than in previous accounting courses: auditing requires you to take a critical perspective and be skeptical about accounting information.
This course covers a significant amount of material in order to introduce the fundamental auditing knowledge that professional accountants require. To manage the course readings, I suggest you try to read all the assigned Text material at least once before class.
You are encouraged to make full use of the discussion boards in avenue to learn.
For the CPA Handbook readings, I suggest you review the assigned sections so you will start to be familiar with the content of the Canadian Auditing Standards (“CAS”), as well as the structure of Canadian generally accepted auditing standards. You do not need to read or memorize every word of the assigned CPA materials, but you should focus on the topics covered in each of the assigned readings.
Unit 1 Introduction to Auditing, Auditor’s Professional Practice and Responsibility and the Independent Auditor’s Report
Unit 2 Preliminary Audit Planning, Assessing Risk and Internal Controls, Fraud and Internal Control Assessment and Testing
Unit 3 Audit Evidence and Sampling
Unit 4 Completing the Audit, Applying Professional Judgment to Form the Audit Opinion and Issue the Audit Report and Ethics and Legal Responsibilities
Unit 5 Other assurance and non-assurance engagements