| Course Title: | Auditing |
|---|---|
| Course Number: | ACCT446 |
| Course Description: | This course covers accepted principles, practices, and procedures used by public accountants for providing their opinion of corporate financial statements. It also introduces audit reports, the corporate internal auditor’s function, and interaction between outside auditors and a client company’s accounting staff. A lot of emphasis is placed on ethics in the auditing profession and the requirements for detecting fraud in financial statements. |
| Course Prerequisites: | ACCT312 |
Syllabus
Course Information
Course Specific Requirements
Enter content here, if necessary.
Textbooks and Resources
Required Textbooks
The following books are required for this course:
Auditing and Assurance Services
14th Edition
by Arens, Elder, Beasley
2012 Pearson, Prentice Hall
APA citation
E-book Details
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Physical Books and Supplies
Your course may require additional materials, such as a course kit. Visit the online bookstore if you have not yet ordered your books and supplies.
Campus Additional Information
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Terminal Course Objectives
DeVry University course content is constructed from curriculum guides developed for each course that are in alignment with specific Terminal Course Objectives. The Terminal Course Objectives (TCOs) define the learning objectives that the student will be required to comprehend and demonstrate by course completion. The TCOs that will be covered in detail each week can be found in the Objectives section for that particular week. Whenever possible, a reference will be made from a particular assignment or discussion back to the TCO that it emphasizes.
1
Given that the 10 generally accepted auditing standards (GAAS) are the basis for the entire audit process, introduce these general standards as the general guidelines used by auditors in the performance of an audit.
2
Given differing circumstances in audit situations and attestations, identify the type of reports issued and their contents.
3
Given the Sarbanes Oxley Act’s impact and the Securities and Exchange Commission’s mandate to the Public Company Accounting Oversight Board, explain the ethical responsibilities of auditors under various business situations, including fraud auditing.
4
Given the litigious environment in which CPAs practice, describe the issues surrounding an accountant’s legal liability (based on statute and common law), and apply these issues to specific legal situations.
5
Given the internal controls used by a business entity, evaluate the effectiveness of such controls by identifying their strengths and weaknesses, and determine their effect on performing an audit.
6
Given that audit objectives are the basis for conducting an audit, use the objectives to select the audit tests to be completed and identify the extent and timing of such tests.
7
Given the importance of analytical procedures, design and apply the major types of analytical procedures to the three phases of an audit.
8
Given time and cost constraints of an audit, explain how materiality and audit risk are assessed and applied to make an audit efficient and effective.
9
Given the need to obtain audit evidence in accounting cycles, identify audit testing available for selected cycles, and where appropriate, apply sampling to the testing.
10
Given the impact of information technology on the audit process, explain how information technologies enhance internal control.
11
Given the completion of the audit during a period after year-end, explain the significance of compiling evidence between year-end and the audit report date.
Lab Schedule
Week 1
None
Citrix
RKON
Skillsoft
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ACC COMAT
ACC NonCOMAT
CWP
Week 2
None
Citrix
RKON
Skillsoft
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ACC COMAT
ACC NonCOMAT
CWP
Week 3
None
Citrix
RKON
Skillsoft
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WebServer
ACC COMAT
ACC NonCOMAT
CWP
Week 4
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
Week 5
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
Week 6
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
Week 7
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
Week 8
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
Week 9
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
Course Schedule
| Week, TCOs, and Topics | Readings and Class Preparation | Activities and Assignments |
|---|---|---|
Week 1 Introduction to Auditing and Auditing Reports | Chapter 1: The Demand for Audit and Other Assurance Services Chapter 2: The CPA Profession Chapter 3: Audit Reports | Reflective Essay Access and review the Becker links to a multimedia lecture and more as you study professional standards. Quiz |
Week 2 TCOs 3, 4, and 6 Professional Ethics, Legal Liability, and Audit Responsibilities & Objectives | Chapter 4: Professional Ethics Chapter 5: Legal Liability Chapter 6: Audit Responsibilities and Objectives | Reflective Essay Course Project Part 1 Quiz |
Week 3 Audit Evidence, Planning, Risk, and Materiality | Chapter 7: Audit Evidence Chapter 8: Audit Planning and Analytical Procedures Chapter 9: Materiality and Risk | Reflective Essay Course Project Part 2 Quiz |
Week 4 Internal Controls and IT Auditing | Chapter 10: Section 404 Audits of Internal Control and Control Risk Chapter 11: Fraud Auditing Chapter 12: The Impact of Information Technology on the Audit Process | Reflective Essay Course Project Part 3 Quiz |
Week 5 The Audit Program, Auditing Sale, and Collection Cycle | Chapter 13: Overall Audit Plan and Audit Program Chapter 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions | Reflective Essay Course Project Part 4 Quiz |
Week 6 Audit of Sales and Collection Cycle and Sampling | Chapter 15: Audit Sampling for Tests of Controls and Substantive Tests of Transactions Chapter 16: Completing the Tests in the Sales and Collection Cycle: Accounts Receivable Chapter 17: Audit Sampling for Tests of Details of Balances | Reflective Essay Course Project Part 5 Quiz |
Week 7 Completing the Audit and Issuing Audit Report | Chapter 24: Completing the Audit Chapter 25: Other Assurance Services | Reflective Essay Access and review the Becker links to a multimedia lecture and more as you study audit reports. Course Project Part 6 Quiz |
| Week 8 All TCOs | Final Exam | |
Blended E-Learning
This course is an 8-week, intensive course that includes both classroom-based and e-learning activities. Your participation in both areas is essential to your success in this course. You should expect to spend time each week participating in the prescribed activities both before and after our class meeting.
Participation before, during, and after class meetings is critical to your success in this intensive environment.
To get the most out of our weekly class meetings, it is essential that you come to class prepared. The weekly readings listed in the Course Schedule will prepare you for class. Our class meetings, in turn, will prepare you for upcoming exams and assignments.
Through the DeVry e-learning platform, you will be able to
- review the Syllabus and weekly assignment information;
- submit completed work for grading;
- take quizzes and exams;
- obtain copies of class handouts and notes;
- e-mail the instructor and other students; and
- participate in online discussion of class material.
iConnect Live
This course contains iConnect Live sessions that provide students with the opportunity to attend live presentations, which cover course materials, projects, and assignments. Please see the iConnect Live items for the days and times of the live sessions and for the link to enter each session. You will also receive e-mail reminders each week.
If you are unable to attend the live session, you can watch the recorded session by clicking on the Recordings link that will appear in the iConnect Live item after the lecture has concluded. Please contact your instructor with any questions.
Please note that because of unavoidable technological issues and presenter availability, the live lectures may be substituted with prerecorded lectures.
Due Dates for Assignments & Exams
Unless otherwise specified, the following applies.
- Access to most weeks begins on Sunday at 12:01 a.m. mountain time (MT).
- All assignments are to be submitted on or before Sunday at the end of the specified week that they are due, by 11:59 p.m. (MT).
- All quizzes and exams are to be completed on or before Sunday at the end of the specified week that they open, by 11:59 p.m. (MT).
Week 8 opens at 12:01 a.m. (MT) on the ending Sunday of Week 7. Any assignments or exams must be completed by 11:59 p.m. (MT) Saturday of the eighth week.
Due Dates for Assignments & Exams
All assignments, quizzes, and exams are to be completed per the schedule indicated by your instructor.
Assignment Values and Letter Grades
The maximum score in this class is 1,000 points. The categories, which contribute to your final grade, are weighted as follows.
| Assignment | Points | Weighting |
|---|---|---|
| Reflective Essays (30 points, Weeks 1–7) | 210 | 21% |
| Quizzes (30 Points, Weeks 1–7) | 210 | 21% |
| Course Project (Weeks 2–7) | 280 | 28% |
| Final Exam | 300 | 30% |
| Total Points | 1,000 | 100% |
All of your course requirements are graded using points. At the end of the course, the points are converted to a letter grade using the scale in the table below.
| Letter Grade | Points | Percentage |
|---|---|---|
| A | 900–1,000 | 90% to 100% |
| B | 800–899 | 80% to 89% |
| C | 700–799 | 70% to 79% |
| D | 600–699 | 60% to 69% |
| F | 599 and below | Below 60% |
DeVry Graduate Academic Policy and Relevant Resources
DeVry Undergraduate Academic Policy and Relevant Resources
Frequently Asked Questions
When are grades calculated, and how can I view my grades?
- You must complete any quizzes and post your written assignments (if necessary) to the weekly Dropbox by Sunday 11:59 p.m. (MT) each week, except Week 8 which closes at 11:59 p.m. (MT) Saturday.
- Once your work is reviewed, you should see comments and total points for each assignment in the Gradebook. Instructors should have Discussion work graded by the following Tuesday and all other assignments by the following Friday.
- You may check your progress at any time by going to the Gradebook, selecting the week and then your name.
- Click on the points earned for each assignment in the Gradebook to see any instructor comments.
What should I do if a discrepancy is found with my grade?
- Double-check the error and try to determine what caused it.
- Send your instructor an email explaining your findings.
- Trust that any error in grading will be corrected quickly
What if I cannot get my work submitted on time?
- If you have an emergency that will cause your work to be late, please contact your instructor in advance of the due date so that arrangements can be made. Your instructor may reserve the right to deduct points for work turned in late based on the reason and the timeliness of notice.
- If a technical problem prevents you from meeting the scheduled due date, please contact the Help Desk at 1-800-594-2402 and immediately email your instructor about the situation.
How can I get extra credit?
Extra credit is not an option.
Questions and Concerns
Please feel free to contact me for help with coursework or other areas that may impact your progress. Here are some examples.
- Do you have general questions about attendance, deadlines regarding your courses, student financial aid, or other areas?
- Are you a member of the military service? Do you need to adjust your schedule due to active duty, or do you have questions about your GI Bill® benefits or have other unforeseen military and veteran-related issues that have developed?
- Do you need supplementary student assistance? Please let me know if you are having academic difficulty and would like an ADA accommodation. Although I can talk with you about getting assistance, an excellent point of contact is the Office of Student Disability Services. You can reach the Office by calling 877-496-9050, option 3, or by e-mailing adaofficer@devry.edu or adaofficer@keller.edu.
Regardless of your situation, please feel free to contact me for assistance in whatever area of concern you might have. I will do everything I can to assist you or put you in contact with University colleagues who are trained to assist you in whatever area of concern you might have.
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