Lecture: 4 hours per week
Lecture/Seminar: 2 hours lecture and 2 hours seminar
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 including the use of data analytics as an audit tool.
- 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;
- Explain sampling techniques and auditing in a computer environment using data analytics where appropriate;
- Discuss and perform audit procedures as and when appropriate;
- Explain the importance of data integrity and systems reliability in supporting effective decision making.
Evaluation will be carried out in accordance with the Douglas College Evaluation Policy.
STUDENTS MUST WRITE BOTH THE MIDTERM EXAMINATION AND THE FINAL EXAMINATION TO PASS THE COURSE.
To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.
Invigilated assessments include, in-class quizzes, in-class tests, midterm exam(s) and the final exam.
Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.
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 3880 with a grade of C or better
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 programs]
Courses listed here are equivalent to this course and cannot be taken for further credit:
- No equivalency courses