essenceatlantic

FLORIDAATLANTICUNIVERSITYCOLLEGEOFBUSINESSACCOUNTINGDEPARTMENTAUDITING&ASSURANCESERVICESI-ACG4651(3credithours)SPRING2009–Monday7:10PM-10:00PMBoca-Section002(Fleming401)&Davie-Section005(LiberalArts225)MICHAELL.
TILLETT,(561)803-2465e-mail:michael_tillett@pba.
eduCOURSEDESCRIPTION:Anintroductiontoandoverviewofauditingconceptsandtechniques.
Emphasisisplacedonconceptsandtechniquesapplicabletoauditsoffinancialstatementsbyindependentcertifiedpublicaccountants.
Prerequisite:ACG4401andACG3141REOUIREDTEXT:Auditing&AssuranceServices:ASystematicApproach,6thEdition.
(NewYork:McGraw-HillIrwin,2008)LEARNINGOUTCOMES:AfterstudyingAuditingI,thestudentshouldbeableto:1.
DescribeandillustratethetypesofservicesaCPAfirmmayrender,andtheauditingstandardsapplicabletoafinancialstatementaudit.
2.
ExplainthenatureandimportanceofprofessionalethicsanddiscusstheessenceofeachoftherulesintheAICPA'sCodeofProfessionalConductandtheSarbanes-OxleyAct.
3.
Describeandillustratethetypesofauditingprocedures,andexplaintheprocessofderivingspecificauditobjectivesfrommanagementfinancialstatementassertions.
4.
Identifythephasesofafinancialstatementauditanddescribethecomponentsofauditplanning.
5.
Defineandexplaintheconceptsofmaterialityusedinauditing,andauditrisk.
6.
Identifyandexplaintheelementsofinternalcontrolstructure.
7.
Explainthemethodologyfortestinginternalcontrolsandassessingcontrolrisk.
Page2.
8.
Describetheprocessforevaluatingtheplannedlevelofsubstantivetestsandexplainhowtheauditorvariesthenature,timing,andextentofsubstantiveteststoachieveanacceptablelevelofdetectionrisk.
9.
Describethenatureanduseofauditprograms.
10.
Illustrateandexplaintheessentialstepsinthedesign,execution,andevaluationofanattributesamplingfortestsofcontrols.
11.
Describeandwritethestandardauditor'sreportandthecircumstancesthatresultinadeparturefromthestandardreport.
COURSEREOUIREMENTS:1.
Sessionswillconsistoflectures,solutionsofproblemsandclassdiscussions.
Classattendanceandcompletionofassignedquestionsandproblemsareimportantforacquiringknowledgeandreceivingagoodgrade.
Pleasecometoclassprepared.
2.
Therewillbethreeexamsgivenduringthesemester.
3.
Regardlessofanabsence,studentsareresponsibleformaterialcoveredinclass.
4.
Therewillbenomake-upexaminations,quizzes,orhomeworkunlesspriorarrangementsareapprovedbytheinstructor.
ACADEMICPOLICIES:AllstudentsarereferredtotheFAU'sUniformCoursePolicieswhichcanbefoundathttp://www.
soa.
fau.
edu/policies.
html.
COURSEOUTLINE:(TENTATIVE)DATE:1/5/09Introduction,CourseOverviewandChapter11/12/09Chapters2&3.
1/19/09MartinLutherKingHoliday1/26/09Chapters3&4.
2/2/09Chapter4&review.
2/9/09Examination#1(Chapters1thru4)Page3.
2/16/09Chapters5&62/23/09Chapters6&83/2/09SpringBreak3/9/09Chapter83/16/09Chapters10&113/23/09Chapter11andreview.
3/30/09Examination#2.
(CHAPS.
5,6,8,10&11)4/6/09Chapters12,13,&14(selectedportions)4/13/09Chapters15,16,&17(selectedportions)4/20/09Chapters18&19(selectedportions)4/27/09FinalExaminationEVALUATION:Examination#1=32pointsExamination#2=32pointsExamination#3=32pointsClassparticipation=4points100pointsGRADINGSCALE:A=90-100B=80-84B+=85-89C=70-74C+=75-79D=60-64D+=65-69F=below60ATTENDANCE:1.
Attendancewillbetaken.
Comingtoclassisperceivedasanindicationofstudentinterestandmotivation.
2.
Classparticipation,attitudeandattendancewillcounttowardsgivingthestudentthe"benefitofthedoubt"whenfinalgradesaresubmitted.