BUAD 461 AuditingFall 2018Dr. Frazer

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BUAD 461Auditing Dr. Frazer

Office:McComsey 348 Fall 2018

Class:Wednesday 6-8:30 in McComsey 202

Office Hours: T – 10:45-11:45, 3-5:30

W – 4:5:30

R- 10:45-11:15

Email:

Webpage:

Phone:871-7209- Business Department- leave a message

575-7008- home

MyAccounting Lab course frazer25427

This schedule and procedures are subject to change in the event of extenuating circumstances.

Objective:

This course will develop the role of the auditing profession in society and address many of the techniques used by the auditor to fulfill this responsibility. The student will become familiar with professional literature and the development of standards.

This is an advanced course, I expect full preparation and class participation. Please do the readings and prepare the exercises and problems before class to improve the quality of your questions and responses to my questions.

Academic Honesty and Integrity

Millersville University places a high value on academic honesty. It is expected that all work performed for credit in this course will be your own. This course will be administered in strict compliance with the university policy.

Special accommodations

Any student wishing to request a special accommodation need only make such a request before the end of the second week of class. Please call the Associate VP for Student Support- 717-871-7943. My intention is to honor all legitimate requests. The deadline is necessary to allow sufficient time for a meaningful solution. Exceptional circumstances will also be considered at any time during the semester.

Student Evaluation:

MyAccountingLab:

Chapter Online Quizzes – see schedule 200 pts

In Class Final Exam 100 pts

Cases: 6 total cases

Group Cases:

1 group case as leader 1@50 pts50 pts

2 group cases as member 2 @ 25 pts50 pts

Individual Cases- 3 @ 33.33 pts100 pts

Total Points500 pts

Textbooks:

Arens, Elder and , Auditing & Assurance Services: An Integrated Approach 16h ed., Prentice-Hall, 2017

ISBN:9780134417301 optional version is also available: ISBN:9780134148618

Student Learning Objectives- The student will be able to:

1.incorporate professional standards into case analyses and essay responses.

2.perform as a group leader and as a group member to organize work and present it in a professional manner.

3.develop solutions in light of both general business ethics and the AICPA Professional Code of Conduct.

4.demonstrate facility with basic audit steps and the documentation of such work.

5.demonstrate how routine and non-routine accounting principles can operate in the auditing environment.

Contents / Chapter Assignment / MyAccountingLab
Due Dates / Case
Assignment / Notes
8/29 / The Demand for Audit and Other Assurance Services
The CPA Profession
Sarbanes/Oxley Act / Chapters 1,2 / 9/4
9/5 / Audit Reports and Professional Ethics / Chapters 3,4 / 9/11 / Introductory Case / In class – no assignment turned in.
9/12 / Legal Liability
Audit Responsibilities and Objectives / Chapters 5,6 / 9/18
9/19 / Audit Evidence
Planning and Procedures / Chapter 7,8 / 9/25 / Case 1
9/26 / Materiality and Risk of Fraud / 9, 10 / 10/2
10/3 / Internal Control – COSO / Chapter 11 / 10/9 / Group Case 2
10/10 / Internal Control Reporting
Overall Audit Planning / Chapter 12,13 / 10/16
10/17 / Sales and Collections- Controls
Audit Sampling for Tests of Controls - Completing sales A/R Audit / Chapter 14,15 / 10/23 / Case 3
10/24 / Completing tests of sales, Audit Sampling / Chapter 16, 17 / 10/30
10/31 / Acquisitions and Accounts Payable / Chapter 18 / 11/6 / Case 4
11/2 / Last Day to Withdraw
11/7 / Completing Acquisitions and Payments and Payroll / Chapter19, 20 / 11/13
11/14 / Inventory and Warehousing, / Chapter 21 / 11/20 / Group Case 5
11/21 / Thanksgiving
11/28 / Capital Acquisition / Chapter 22 / 12/4 / Group Case 6
12/5 /

Cash, Completing the Audit

/ Chapter 23, 24 / 12/11
12/12 /

Final Examination

/ Exam (Chaps 1-24)

Cases – you will write six cases, three individual and three group cases. See D2L for the six assignments and the case material.

Group Assignments

Each Group leader is responsible for:

1.Organizing the group effort

2.Submission of the group report

3.Responding to review comments

Each group member is responsible for assignments made by the leader.

Each Case Report (Both Group and Individual) will include (in this order):

1.Title Page

identifying the case number, title and for group cases, the group members.

Identifying the group by number and case, e.g. when we are working on case #1 and you are in group 3, your title page would include: Group# 1.3

2.Sheet titled “Review Comments”- this sheet is blank except the title.

3.Team summary time sheet- tell me how many hours each person spent on the case, by area.

4.Table of Contents

5.Thorough responses to the assignments

6.Summary of readings used to respond to the case (not necessary, unless you consulted some source).

7.Appendices as required to make a clear report (not necessary, unless you have something to add.

Peer evaluations are submitted directly to Dr. Frazer (not included in report). You can create the evaluation on D2L.

Your Group Assignments and the cases on which you are the leader will be handed out in class.

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