AC 425.01       Auditing                                                                       Office:  WBC 105

Fall 2006         Haugen                                                                          Phone:  ext. 8419

                                                                                                                Email:  john.haugen@wartburg.edu

 

 

Required text:        Auditing and Assurance Services, 11th edition, 2006, Arens, Elder & Beasley,

                Pearson Education

Required case book:   Auditing After Sarbanes-Oxley: Illustrative Cases, 2007, Thibodeau & Freier,

               McGraw-Hill/Irwin

 

Course Objectives:

 

  • Introduction to auditing standards, auditing procedures and reports on audited financial statements as audits are performed by professional accountants.
  • Introduction to ethical and legal responsibilities of professional accountants.
  • Introduction to other types of assurance services provided by professional accountants.
  • Introduction to selected accounting/auditing cases that have been in the news.

 

 

Attendance:  Attendance and class participation are expected and will be included

            in determining the grade for the course.  Exceptions for school approved

            activities and illness.

 

Grading:  Grades will be assigned at the end of the term based on performance

           on the following:

 

                        Five exams                              400 points      dates to be announced

                        Final exam                               120 points      Monday, December 11 at 1:30 p.m.

                        Class attendance,

                        participation, and

                        instructor discretion                50 points

 

                        Cases and assigned

                        problems                            80-180 points      dates to be announced

 

                        Total                                 650-750 points

 

The final exam will be comprehensive over all material covered during the term.

 

Assignments:

 

Daily class assignments consisting of reading the chapters and working through end-of-chapter materials assigned. 

 

Assignments to be completed and turned in for grading will be announced in class.  Some of these will include oral presentations to the class.

 

 

Grading:

 

Letter grades will be assigned at the end of the term in accordance with policies stated in the Wartburg College Academic Catalog.

 

 

 

 

 

 

 

 

 

 

Auditing    Fall 2006

Haugen 

Page 2

 

 

 

Academic Integrity

 

 

Honor Code:  Academic integrity, including compliance with the Wartburg Honor Code, is expected of students pursuing a professional career in accounting.

 

Wartburg Honor Code

 

As a matter or personal commitment, students, faculty, and staff of Wartburg College are expected to demonstrate four simple principles:

1)  All submitted work must be your own.

2)  When using the work or ideas of others, including fellow students, provide full credit through

    accurate citations.

3)  Ask for clarification if there is uncertainty about citation rules on a particular assignment.

4)  Maintain academic honesty on examinations and class assignments.

 

Source:  The Honor Code, as approved by the faculty and Student Senate.

 

 

Cheating:

 

Cheating will not be tolerated.  Students found cheating on any quiz or examination will receive a grade of “F” for that quiz or examination.

 

 

 

Special Needs:

The Americans with Disabilities Act of 1990 (ADA) provides protection from illegal discrimination for qualified individuals with disabilities.  Students requesting instructional accommodations due to disabilities must arrange for such accommodations by contacting the Dean of Students Alexander (Lex) Smith.  He can be reached at the Student Life Office, Wartburg College, Student Center 195, 352-8260, <Alexander.smith@wartburg.edu>.  Accommodations should be requested PRIOR to affected assignment due dates. 

 

 

 

 

Office hours:

                        Monday, Wednesday, & Friday                 12:00 – 1:00

                        Tuesday                                                           1:30 – 3:30

                        Thursday                                                         2:00 – 4:00       and by appointment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Auditing Assignments

Fall 2006

 

 

 

Sept.

6

Introduction

 

8

Study chap. 18.  Prob. 18-19, parts c & d.          Prob. 10-34, parts d & e.

Prob. 18-25.    Consider Case 1.1 (T) in class.

 

11

Prob. 11-28.    Prob. 18-28.  Chap. 18 questions 6, 12, & 13.

Study Chap. 1.    Consider Case 1.2 (T) in class.

 

12

Chap. 1 questions 1, 3, 5, & 8.     Probs. 1-21 & 1-23.   Prob. 18-25.  Prob. 12-26.

Consider Case 2.1 (T) in class.

 

13

Study Chap. 2.  Chap. 2 questions 3, 4, 7, 8, & 14.    Probs. 2-19 & 2-21.

Study Chap. 3.   Chap. 3 questions 3, 4, 6, 12, & 14.

 

15

Chap. 3 questions 10, 11, 13, 15, & 18.     Probs. 3-27, 3-28, 3-29, 3-31, & 3-32.

 

18

Chap. 3 questions 7, 16, 17, 20, & 22      Probs. 3-23, 3-24, 3-26, 3-30, & 3-33.

 

19

     Exam I    Chapters 18, 1, 2, & 3.

 

 

 

Exam II is tentatively scheduled for October 6 and tentatively planned include chapters 6, 7, 8, 9, & 16.

 

Assignment sheets for periods leading up to subsequent examinations will be provided later in class.

Modifications to the assignment sheet may occur from time to time.