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Math

BSA-412.1: Auditing and Assurance Services 2


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This is a continuation of Auditing Theory, focusing on financial statements audit. It covers detailed approaches to problems and situations normally encountered in the independent examination of cash, receivables, inventories, investments, prepaid expenses, deferred charges, property, plant and equipment, intangibles, liabilities, owner’s equity, and revenue and expenses. It deals specifically with the application of auditing standards, techniques, and procedures; internal control evaluation; preparation of audit working papers; introduction of computer application in auditing; audit adjustments; and audit reports pertaining to a medium-sized manufacturing or trading concern. The determination of audit objectives and audit programs, evaluation of internal control, and determination of substantive procedures as applied to various accountants’ are better appreciated as the transaction cycle approach is employed in the course. Audit working papers and audited financial statements are the natural outputs of this course leading to the preparation of audit reports.

COURSE DESCRIPTION     :

 

This is a continuation of Auditing Theory, focusing on financial statements audit. It covers detailed approaches to problems and situations normally encountered in the independent  examination of cash, receivables, inventories, investments, prepaid expenses, deferred charges, property, plant and equipment, intangibles, liabilities, owner’s equity, and revenue and expenses. It deals specifically with the application of auditing standards, techniques, and procedures; internal control evaluation; preparation of audit working papers; introduction of computer application in auditing; audit adjustments; and audit reports pertaining to a medium-sized manufacturing or trading concern. The determination of audit objectives and audit programs, evaluation of internal control, and determination of substantive procedures as applied to various accountants’ are better appreciated as the transaction cycle approach is employed in the course. Audit working papers and audited financial statements are the natural outputs of this course leading to the preparation of audit reports.

 
  

COURSE OBJECTIVES       :

 
At the end of this course, the students are expected to:
 

Cognitive:

1.    Explain the nature of auditing, the audit processes and audit planning.
2.    Describe the nature, documents and records, and specific audit processes for each transaction cycle.
3.    Indentify the process of completing the audit and reports preparation.
4.    Apply appropriate auditing practice and procedures to relevant situations.
      

Psychomotor:

1.    Gather substantive audit procedures relevant to given audit objectives and assertions.
2.    Prepare audit report appropriate for the team’s audit conclusion.
 

Affective:

1.    Integrates the ethical provisions in conducting the audit
2.    Displays concern about the truth or fairness of the information which the financial statements purports to represent.
 
 
COURSE REQUIREMENTS            :
 
1.    Working papers and practice set
 
  

EXPECTATIONS FROM STUDENT          

The student’s responsibility is to come to each class prepared. She is also expected to take all examinations on the date’s schedule. She should read the assigned problems prior to class. She is expected to attend each class and participate actively in the discussions.
 

 

ACADEMIC DISHONESTY :

 
All BSA students are expected to be academically honest. Cheating, lying and other forms of immoral and unethical behaviour will not be tolerated. Any student found guilty of cheating in examinations or plagiarism in submitted course requirements will (at a minimum) receive an F (or 0.00) or failure in the course. Plagiarism and cheating refer to use of unauthorized books, notes or otherwise; securing help in a test, copying tests, assignments, reports, or term papers; representing the work of another person as one’s own collaborating, without authority, with another student during an examination or in preparing academic work; signing another student’s name on attendance sheet; or otherwise practicing scholastic dishonesty.
 

 

GRADING SYSTEM :

 
 
1st Half
2nd Half
Total
Quizzes
20%
25%
45%
Attendance, Seatwork, Assignments
5%
5%
10%
Departmental examinations
20%
25%
45%
 
Total
 
45%
 
55%
 
100%