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Topics - (the relevant chapter from the text is in the curved brackets)

Tutorial

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

Articles

Introduction (1)  

Specific Objectives:

• Define and explain 'Auditing'
• Describe the various types of audits and assurance services
• Distinguish between the different types of auditors and the services they perform
• Understand the need for an audit
• Explain the 'Expectation gap'
• Distinguish between auditing and accounting
• Describe the audit process

1 - 10

• A New Look at the Attestation Standards

Regulatory Framework (2)

Specific Objectives:

• Recognize what constitutes 'proper' books of accounts and why the auditor should be concerned about such books
• State the financial statements required to be laid before a general meeting
• Describe the procedure with respect to completion of the accounts
• State the exceptions to the general rule that 'members of a company shall appoint the auditors'
• Explain who the determines the remuneration of the auditors
• State who can and who cannot be an auditor
• Summarize the duties and rights of an auditor
• Explain the role of auditing and accounting standards in the audit process
• Describe the ethical concerns of the accounting profession

 1 - 20

• Companies Bill  
• Audit Committee Effectiveness
• House Passes Accounting Reform Bill
• ICAJ's Code of Ethics
• International Code of EthicsR
• AICPA Code of Professional Conduct
• Study shows consulting does affect auditor independence
• BOJ's Q&A (see related article just below)
• Accountants to take on BOJ in who audits banks 
• PwC to Pay $55 Million in Class Action Suit
• ICAJ to be made sole agent of the Public Accountancy Board and to fully adopt IAS 
• Financial Statements: whose responsibility? 
• Responsibility for financial statements - 

Specific Objectives:

• Define audit risk and explain the relationship among its components
• Explain how the auditor uses the audit risk model to control it
• Explain how an auditor determines materiality and how it is used in the audit process 
• Identify financial statement assertions
• Know what constitutes sufficient and reliable evidence
• Appreciate the different types of evidence
• Describe what constitutes proper working papers
• Distinguish between indexing and cross referencing
• Distinguish between a permanent file and a current file

Chapter 4

3 -7, 9 -10, 19 

Chapter 5

1 - 9, 11

Internal Control (6)

Specific Objectives:

• Explain the importance of Internal Control

• Define Internal Control

• Identify and distinguish between the different components of Internal Control

• Explain the significance of some key concepts of Internal control, specifically: Management's Responsibility, Reasonable Assurance, Inherent Limitations

• Document the Internal Control structure of a company

• Conduct tests of Internal Controls and evaluations thereof

• Prepare a basic Management Letter

Questions 

1-5, 33, 34, 35

6 - 13, 31 -32, 36 - 39

14 - 23

24 -30

• Flowcharting made simple
• Auditing Payroll Data

Sampling (7 & 9)

Specific Objectives:

• Define 'audit sampling'

• Distinguish between the different sampling selection methods

• Distinguish between attributes sampling and variables sampling

• Distinguish between the two types of sampling risk as they relate to Internal Control and their impact on the audit

• Explain the impact that certain factors have upon the design of a sample for testing Internal Control.

• Apply sampling techniques during tests of controls and evaluations thereof

• Distinguish between the two types of sampling risk as they relate to substantive testing and their impact upon the audit.

• Explain the impact that certain factors have upon the design of a sample for substantive testing.

• Distinguish between the characteristics of Probability-Proportional-to-Size (PPS) /Monetary Unit Sampling (MUS) and Classical Variables Sampling Techniques

• Apply the following variations of Classical Variables Sampling Techniques in determining the estimated audited population value: mean-per-unit, difference and ratio estimation.

Chapter 7

1 - 28

Chapter 9

1 - 16

Specific Objectives:

• Define analytical procedures
• Describe the different types of analytical procedures
• Describe the role and significance of analytical procedures in the planning, fieldwork and final review stages of an audit.

To be distributed in class or click here

Specific Objectives:

• Appreciate the efficiency brought about by utilizing computerized audit tools.
• Apply the principle of Brenford's Law  in detecting anomalies in data sets (Digital Analysis)
• Appreciate the issues which surround e-commerce and web-based Accounting Information Systems and how they affect the auditor.

1 - 6

• Sharpen your spreadsheet skills

• Take my manual audit, please

• Automated Audits

• Digital Analysis

  • Article: Part 1, Part 2, Part 3

  • SoftwareR

• Advanced Tools to Tackle Fraud and Collusion:

  • Part 1, Part 2, Part 3

• I've got your number

• WebTrust

• Audit LeverageR

• Auditing e-Business

Specific Objectives: 

Appreciate the issues surrounding:

• Fraud
• Forensic auditing/accounting
• Auditing theory

None

• Forensic AccountingR

• Red flags of fraudR

• Forensic Accountants: A Different Mindset

• Fraud a Pyramid Scheme

• Jailhouse Shock

• The Law and CPA WebTrust

• ZZZZ Best Company Inc.

• My Million Dollar Lesson