ACCT 460 introduces students to the concepts, principles, and practical applications of auditing in the business world. The course serves the needs of students planning to enter the accounting profession, particularly those who plan to pursue auditing careers. ACCT 460 emphasizes the concepts and practical applications that will serve as a foundation for developing auditing skills.
Outline
Lesson 1: Introduction to Auditing
Lesson 2: Auditor’s Report, Professional Ethics, and Legal Liabilities
Lesson 3: Audit Objectives and Phases of the Audit
Lesson 4: Audit Planning, Materiality, and Risk
Lesson 5: Introduction to Internal Control, Assessment of Control Risk, and Audit Program Concepts
Lesson 6: Audit Evidence, and Audit Sampling
Lesson 7: Audit of the Sales and Receivables Cycle and Cash Balances
Lesson 8: Audit of the Acquisition and Payment Cycle
Lesson 9: Audit of the Payroll and Inventory Cycles
Lesson 10: Completion of the Audit and Other Assurance and Nonassurance Services
Evaluation
To receive credit for ACCT 460, you must write a Midterm Examination and a Final Examination, achieve a minimum grade of 50 percent on the Final Examination, and achieve a composite course grade of at least D (50 percent). If you fail to write an examination, you will not pass the course. You do not need to pass the Midterm Examination to pass the course, but the Midterm contributes a significant percentage to your final composite grade; therefore, we recommend that you write a supplemental examination if you do not pass the Midterm Examination.
Activity
Weight
Assignment 1
5%
Assignment 2
5%
Assignment 3
5%
Midterm Exam
35%
Final Exam
50%
Total
100%
The midterm and final examinations for this course must be taken online with an AU-approved exam invigilator at an approved invigilation centre. It is your responsibility to ensure your chosen invigilation centre can accommodate online exams. For a list of invigilators who can accommodate online exams, visit the Exam Invigilation Network.
To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.
Note: Students planning to transfer this course to a Chartered Professional Accountant designation are advised that they will be required to achieve a grade higher than the minimum passing grade. See CPA Requirements for details.
Materials
Arens, A. A., Elder, R. J., Beasley, M. S., Hogan, C. E., & Jones, J. C. (2019). Auditing: The art and science of assurance engagements (14th Can. ed.). Pearson Canada. ISBN 9780134885315 (eBook)
Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized-study counterparts.
Opened in Revision 11, April 13, 2021
Updated July 15, 2021, by Student & Academic Services