Lectures and group discussions.
- Professional standards, ethics and legal liability.
- Audit objectives, evidence, procedures and documentation.
- Planning, materiality and risk.
- Internal control.
- Audit sampling.
- Computer auditing.
- Revenue and collection cycle and acquisition and expenditure cycle.
- Inventory and capital asset balances, production and payroll cycle, and finance and investment cycle.
- Investments, long term debt and shareholders’ equity balances, and completion of the audit.
At the end of the course, the successful student should be able to:
- Discuss the environmental context and issues relating to the attest function;
- Plan an audit taking into account concepts of evidence, risk and materiality;
- Evaluate internal controls;
- Understand sampling techniques and auditing in a computer environment;
- Discuss and perform audit procedures as and when appropriate.
STUDENTS MUST WRITE BOTH THE MIDTERM EXAMINATION AND THE FINAL EXAMINATION TO OBTAIN CREDIT FOR THE COURSE.
Textbooks and Materials to be Purchased by Students
Robertson & Smieliauskas, Auditing: An International Approach, latest Canadian edition. McGraw-Hill Ryerson, Toronto, or other textbooks as approved by the accounting department.
Instructor compiled materials (if applicable).
Faculty of Commerce and Business Administration approved calculators
ACCT 3310 with a grade of C or better AND ACCT 3410 with a grade of C or better AND (BUSN 2429 with a grade of C or better OR BUSN 3431 with a grade of C or better)
OR ACCT 3310 with a grade of C or better AND currently active in the PDD Accounting or PDD Accounting Studies or PBD Accounting or PBD Accounting & Finance