AUDITING SYLLABUS, Spring 2016
Lecturer: Aaron WangTime: 6:30 p.m. - 8:20 p.m. Mon. /Thurs.
Email: awang1205@163.com Phone: 1377 0718 515
COURSE OBJECTIVES
At the end of the semester, you will have a better understanding of the following:
1. The importance of auditing and other assurance services to the global economy.
2. The crucial role of auditing in effective corporate governance.
3. Auditor independence and ethical responsibilities.
4. The risk-based approach to auditing and the many types of risk faced by auditors.
5. The need to gather sufficient, competent audit evidence.
6. Internal controls and the integrated audit.
7. The basics of audit sampling, emphasizing sampling to test internal controls.
8. The basic framework for auditing a company's revenue and purchasing cycles.
9. Audit considerations for long-term assets, related entity transactions, mergers and acquisitions.
10. Reporting audit findings.
COURSE MATERIALS
Book (optional): Auditing and Assurance Services: An Integrated Approach, (14th Edition), by Alvin A Arens, Randal J Elder & Mark S Beasley.
Course Packet (required): Syllabus; Class Notes; Cases.
CASE STUDY PREPARATION
To refine your writing skills and your ability to deal with more realistic and less structured problems in auditing, there will be three case exercises based on real-world examples that have been adapted for teaching purposes. To be effective all cases require you to prepare carefully before class (read the case according to the questions) and participate fully in class.
GRADES
Group Presentation (One)30%
Final Examination60%
Class Participation10%
100%
COURSE SCHEDULE
Date* | Topic |
Mar.07, 2016 | Topic 1 - Introduction and overview of audit and assurance |
Mar.10, 2016 | Topic 2 - Ethics, legal liability and client acceptance |
Mar.14, 2016 | Topic 3 - Risk assessment I |
Mar.17, 2016 | Topic 4 - Risk assessment II |
Mar.21, 2016 | Topic 5 - Audit evidence |
Mar.24, 2016 | Topic 6 - Gaining an understanding of the client’s system of internal controls |
Mar.28, 2016 | Topic 7 - Sampling and overview of the risk response phase of the audit |
Mar.31, 2016 | Topic 8 - Execution of the audit — testing of controls |
Apr.04, 2016 | No Class (Holiday) |
Apr.07, 2016 | Topic 9 - Execution of the audit — performing substantive procedures |
Apr.11, 2016 | Case Discussion: LaramieWire Manufacturing |
Apr.14, 2016 | Case Discussion: Burlingham Bees |
Apr.18, 2016 | Topic 10 - Substantive testing and balance sheet accounts |
Apr.21, 2016 | Topic 10 - Substantive testing and balance sheet accounts |
Apr.25, 2016 | Topic 11 - Substantive testing and income statement accounts |
May 02, 2016 | No Class (Holiday) |
May 09, 2016 | Topic 11 - Substantive testing and income statement accounts |
May 16, 2016 | Topic 12 - Completing and reporting on the audit |
May 23, 2016 | Case Preparation |
May 30, 2016 | **Group Presentation: Société Générale |
Jun.06, 2016 | Final Examination |
* The dates may be subject to change.
** Please send me your presentation slides before the class