University
of Technology
School
of Business Administration
2003
- 2004
COURSE TITLE: External Auditing
(Pre-requisite: Introduction to Auditing)
WEB SITE: http://www.rohanchambers.com/Courses/Auditing/External/Home.htm
GROUP: BBAA4
DURATION: Semester 2
INSTRUCTORS | Rohan Chambers |
C/o School of Business, Ext.2141. | |
Email: rchambers@cybervale.com | |
Personal web site: www.rohanchambers.com | |
Office hours : Tuesdays 3 - 5 pm | |
C/o School of Business, Ext 2309 | |
Email: rogerhbrown@hotmail.com | |
Office hours: To be announced | |
COMPUTER LAB INSTRUCTOR (ACL): |
Marlon Cooper |
C/o Symptai Consulting Limited, 56 Half Way Tree Road | |
Email: marlon_cooper@symptai.com | |
External Auditing is a capstone course in an undergraduate education for an accounting career. The course draws upon some of the theoretical concepts and principles previously learnt in Introduction to Auditing, Information Technology and various financial accounting courses and applies them to the practice of External (Financial Statements) Auditing. The course is includes a lab component where students will be introduced to Audit Command Language (ACL), a popular auditing software tool. External Auditing should be taken by students who wish to become a Chartered/Certified Accountant.
The course is primarily intended to provide students with the necessary skills to satisfy the entry-level requirements for employment in an accounting (auditing) firm or department. It is important to note that the course is not designed to make one an expert auditor. As will be seen, this is something that can come only with extensive experience.
The course will not, by itself, completely prepare students for taking auditing sections of professional examinations, namely, Paper 2.6 - Audit and Internal Review and Paper 3.1 – Audit and Assurance Services in the ACCA examinations and Auditing in the CPA examinations. However, as a secondary objective. it is intended to provide students with a solid foundation so that with additional self-study (or by attending review classes) they can pass such sections of the examinations.
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Topics - (the relevant chapter from the text is in the curved brackets) - [ the week in which the lecture will be covered is in the square brackets] Click on the bold type headings to get access to the power point lecture slides |
Tutorial [the week in which the tutorial will be covered is in the square brackets] Note - These questions are found at the end of the corresponding chapter |
Supplemental Articles/Web Sites Click 'Articles' below for complete list of Auditing Articles |
1 |
Engagement Acceptance (3) [Wk.1] Specific Objectives:
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Questions [Wk.2]
1-15 |
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2 |
Planning & Control (4) - (5) [Wk.2] Specific Objectives:
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Questions [Wk.3]
Chapter 4 1-2,8, 11-18, 20-23 Chapter 5 10, 12-13
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3 | Substantive
Testing – (8) - [Wk.3-6]
Specific Objectives:
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Questions [Wk.4-7]
1-4, 37 5-13, 14-21, 22-28 29-31, 38 32-36, 39
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4 |
Completing the Audit (11) - [Wk.7] Specific Objectives:
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Questions [Wk.8] 1-16 |
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5 |
Reporting (12) - [Wk.8-9] Specific Objectives:
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Questions [Wk.9-10]
1-15, 22-24 16-21 |
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6 | Contemporary
issues
(13) - [Wk.10]
Specific Objectives: Appreciate the issues surrounding:
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Questions [Wk.11]
Question 3 plus others which will be distributed in class |
There will be two 2-hour sessions per week. One of the sessions will be for a combined lecture and tutorial. The first hour will be the tutorial where students will present their solutions to assigned questions. The second hour is for lectures where topics will be introduced and discussed. To assimilate the material more readily and in turn enhance better quality discussions, students must read the relevant units and attempt the assigned tutorial questions prior to each session. The instructor will assume that this has been done.
The second 2-hour session will be in held in computer labs and will focus on the use of Audit Command Language (ACL). Trainers from Symptai Consulting Limited, local agents for ACL, will demonstrate the basics of this software package.
Type | Date/Due Date | Topics | Length | Format | Weight (%) |
Coursework #1 | Week# 4 | 1-2 | 1 ¼ hours | In class test - 60 mcqs | 10 |
Coursework #2 | Week# 10 | 3 | n/a | Group take home assignment | 15 |
Coursework #3 | Week#12 | ACL | n/a | Group take home assignment | 15 |
Final Exam | To be Announced | 1-6 | 2 hours | TBA | 60 |
|
100 |
Note:
TBA - To be announced
Further details on all the above assessments will be provided throughout the semester and all are subject to change.
a) Required : Auditing – The International Way - by Rohan Chambers, 1st Edition, ISBN 976-8172-19-3
b) Additional References
- Auditing by Guy, Alderman & Winters, Dryden Press, Latest Edition.
- Audit & Internal Review - Paper 6 by ACCA (Latest Edition).
- Auditing - An Integrated Approach by Arens & Loebbecke, Latest Edition.
- Auditing Today by Emile Wolfe, Prentice Hall, Latest Edition.
c) The course web page: http://www.rohanchambers.com/Courses/Auditing/External/Home.htm serves as a repository of materials for the course. You may also access this web page by doing the following: Go to www.rohanchambers.com , select Courses from the left and then select External Auditing.
d) The following web page http://www.rohanchambers.com/Courses/Auditing/Auditing's articles and related links bottom frame.htm has a number of auditing articles, some of which are already bolted to corresponding topics above.
Last
updated: Saturday, February 14, 2004