《审计学AU1英语》课程教学大纲

1、审计学AU1英语课程实施方案Auditing 1 (AU1, English) Syllabus1. Course InformationCourse MaterialsCompulsory Literature0. Ray Whittington & Kurt Pany, Principle of Auditing & Other Assurance Services, McGraw-Hill Education, 20th EditionElective Literature.Lv, Xianpei, Auditing (in Chinese), Southwestern Universi

2、ty of Finance and Economics Press, 2016.Alvin A. Arens, Randal J. Elder, and Mark S. Beasley, Auditing and Assurance Services: An Integrated Approach, Pearson, 15th EditionSource for Further MaterialsFinancial Times etc.Major Program Learning Goals and ObjectivesPs: LO1.1, LOI.2, LO5.1 and Lo5.2 are

3、 material assessment.Program Learning GoalProgram Learning ObjectivesLG1 Professional KnowledgeComprehensivenessLO 1.1 Students will be able to grasp the fundamental theories, methods and skills in specific areas.LO 1.2 Students will be able to identify, analyze the key issues and draw the conclusio

4、ns by applying the professional knowledge.LG 2 Communication Skills and Cooperation CapabilityLO 2.2 Students will be able to communicate effectively in writingLO 2.3 Students will be able to have team-work awarenessLG5 Develop Business Ethics and Social ResponsibilityLO 5.1 Students will be able to

5、 identify the challenges and ethical dilemmas in the business situation.LO 5.2 Students will be able to analyze the ethical issues and propose the appropriate solutions in the business situation.Course DescriptionCourse ObjectivesAuditing is a course dealing with issues, concepts, and personal judgm

6、ents, rather than mechanical techniques.This course emphasizes the manner in which the assurance function is performed, with an emphasis on the auditing of financial statement information. It continues with the content and learning methods introduced in your earlier accounting courses and with empha

7、sis on understanding relevant professional standards (primarily in 2 areasattest and audit) and applying those standards. The specific learning outcome objectives are as follows:Overall auditor responsibilities: Understand the nature of audit risk and an auditorsCorporate Governance and Its Relation

8、ship to Internal ControlFinancial Statement Audits: The Role of Internal Control Case Analysis Quiz TwoHomeworkCorrect homework, and Answer questions.13The nature of CashInternal control of CashAudit procedures of CashThe nature of receivables and revenueaudit procedures of A/R, N/R and Revenuethe n

9、ature of inventories and cos of good soldthe audit procedures of inventories and cos of good soldLecture DiscussionReviewAsk the students to study the mockAnswer questions and summary.14nature of PPEaudit procedures of PPEnature of Accounts payableaudit procedures of A/PChapter 16Auditing Operations

10、Revenue CycleExpense CycleLectureReviewPreview HomeworkAsk the students to study the mockanswer questions and summary.15The Audit of PayrollCompleting the AuditChapter 17Financial Statements and Standard Unmodified Audit ReportsExpression of an OpinionLecture DiscussionReview Preview QuizAsk the stu

11、dents to study the mockAnswer questions and summary16Reports with an Unmodified Opinion and an Emphasis-of-Matter ParagraphModified OpinionsAdditional Reporting IssuesQuiz ThreeLectureReviewPreview HomeworkAsk the students to study the mockCorrect quiz, answer questions and summar17Review of whole t

12、extbookLecture DiscussionReviewPreviewAdditional materials will be distributedAnswer questions and summary.AOL and Student AssessmentNo.Assessment MethodCourse ObjectivesEvaluation MethodLearning Objectives1True/False, Multiple ChoiceUnderstand the audit theory and contentFinal ExamLO 1.12Reports on

13、 Case AnalysisMake audit plan, audit objectives, and apply proper audit approach, gather audit evidence based on the business risk audit, and issue audit reportCase AnalysisLO1.2responsibility to detect financial statements misstatements and noncompliance with laws and regulations.The audit process:

14、 Understand the nature of the audit process, including the nature of and relationships among financial statement assertions, audit objectives, audit procedures and audit evidence.Reporting requirements: Apply appropriate audit reporting standards to various reporting situations.Ethical responsibilit

15、ies: Apply ethical standards to situations encountered by accountants.No.Course ObjectivesExpected Learning Objectives (AOL)1Understand the audit theory and content including professional standards, audit risk and audit processLO 1.12Make audit plan, audit objectives, and apply proper audit approach

16、, gather audit evidence based on the business risk audit, and issue audit reportLO 1.2LO2.2LO2.33Apply ethical standards and professional standards to identify ethical dilemmas in the business situationLO5.14Apply ethical standards to analyze the ethical issues and propose the appropriate solutions

17、in the business situation.LO5.2Course Structure and ContentsNo.TopicKey ChaptersClass Hours1Introduction, Standards and Liabilityl.The Role of the Public Accountant in the American Economy42.Profession Standards43.Professional Ethics64.Legal Liability of CPAs42Restricting Audit Riskl.Audit Evidence

18、and Documentation62.Planning the Audit, Understanding the Client, Assessing Risk and Responding63.Internal Control63Detailed Account and Cycle Analysis1.Revenue Cycle62.Expenditure Cycle3.Investment and Financing Cycle4.Auditing Operations and Completing the Audit64Reportingl.Auditors Report6Total C

19、lass Time： 6454 (Lecture) +6 (Case Analysis) +4 (Answer Questions)The Role of the Public Accountant in the American EconomyThis chapter emphasizes the role of the public accountant, the structure of CPA firms, and the various types of audits and auditors. It also introduces the important concepts of

20、 corporate governance and includes a brief history of the auditing profession, including up-to-date coverage of the Sarbanes-Oxley Act of 2002 and the Public Company Accounting Oversight Board.Learning Objectives:LOI-1 Describe the nature of assurance services.LOI-2 Identify assurance services that

21、involve attestation.LOI-3 Describe the nature of financial statement audits.LOI-4 Explain why audits are demanded by society.LOI-5 Describe how the credibility of the accounting profession was affected by the large number of companies reporting accounting irregularities in the beginning of this cent

22、ury.LOI-6 Contrast the various types of audits and types of auditors.LOI-7 Explain the regulatory process for auditors of public companies and auditors of nonpublic companies.LOI-8 Describe how public accounting firms are typically organized and the responsibilities of auditors at the various levels

23、 in the organization.Professional StandardsThis chapter includes detailed coverage of the new Principles Underlying and Audit Conducted in Accordance with Generally Accepted Auditing Standards, which replace the 10 generally accepted auditing standards for nonpublic companies.Learning Objectives:LO2

24、-1 Describe the authority of the two types of auditing standards in effect in the United States-AICPA generally accepted auditing standards and PCAOB standards.LO2-2 Identify the nature and underlying principles of generally accepted auditing standards.LO2-3 Discuss the auditors responsibility for d

25、etecting errors, fraud, and noncompliance with laws and regulations.LO2-4 Explain the key elements of the auditors standard report.LO2-5 Discuss the other types of reports that are issued by auditors.LO2-6 Describe the attestation standards.LO2-7 Describe the quality control standards and their purp

26、oses.LO2-8 Explain the status of international accounting and auditing standards and the content of the international audit report.Professional EthicsUpdated to reflect the most recent AICPA and PCAOB requirements. This includes the new AICPA Code of Professional Conduct passed in 2014.Learning Obje

27、ctives:LO3-1 Describe the nature of ethics and ethical dilemmas.LO3-2 Describe a professions reasons for establishing professional ethics.LO3-3 Discuss the Principles section of the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct.LO3-4 Describe the applicabili

28、ty of the Rules contained in the AICPA Code of Professional Conduct and the overall conceptual framework.LO3-5 Explain the concept of independence and identify circumstances in which independence is impaired.LO3-6 Contrast the independence rules for audits of public companies with those for audits o

29、f nonpublic companies.LO3-7 Discuss The Institute of Internal Auditors Code of Ethics.Legal Liability of CPAsClear, concise coverage of CPA legal liability based on suggestions by legal scholar professorMarianne Jennings of Arizona State University.Learning ObjectiveLO 4-1 Describe the types of CPA

30、liability.LO 4-2 Distinguish between CPAs liability under common law and under statutory law.LO 4-3 Explain the proof requirements for clients and third parties seeking recovery from CPAs under common law and the defenses available to CPAs.LO 4-4 Explain the proof requirements for plaintiffs under s

31、tatutory law and the defenses available to the auditors.LO 4-5 Compare the requirements for CPA liability under the Securities Act of 1933 with those under the Securities Exchange Act of 1934.LO4-6 Describe CPA legal liability for accounting and review services.Audit Evidence and DocumentationThe di

32、scussion of evidence has been streamlined to parallel the presentation of evidence in recently issued auditing standards.Learning ObjectivesLO 5-1 Explain the relationship between audit risk, audit evidence, and financial statement assertions.LO 5-2 Identify and explain the components of audit risk.

33、LO 5-3 Distinguish between the concepts of sufficient and appropriate as they apply to audit evidence.LO 5-4 List and describe types of audit procedures.LO 5-5 Describe the considerations involved in auditing subjective areas, such as certain financial statement items valued at fair value.LO 5-6 Des

34、cribe the purposes of audit documentation.LO 5-7 Discuss the factors that affect the auditors judgment as to the nature and extent of audit documentation.LO 5-8 Identify matters that should be included in audit working papers.LO 5-9 Describe the types of working papers and the way they are organized

35、.Audit Planning, Understanding the Client, Assessing Risks, and RespondingThe risk assessment approach to an audit is concisely summarized in a summary of the audit process.Learning ObjectivesLO 6-1 Describe the major steps in the audit process.LO 6-2 Identify the factors that auditors consider in a

36、ccepting new clients.LO 6-3 Explain the auditors responsibilities when planning an audit.LO 6-4 Describe the nature of the risk assessment procedures that auditors use to obtain an understanding of the client and its environment.LO 6-5 Describe the manner in which an audit is affected by the auditor

37、s assessment of audit risk and materiality.LO 6-6 Describe how the auditors address fraud risk.LO 6-7 Discuss how the auditors design further audit procedures in response to the assessed risks of material misstatement.LO 6-8 Distinguish between the systems and the substantive procedures portions of

38、the audit plan.Internal ControlDiscuss internal control and how it is considered in an audit of financial statements. This chapter is revised to include the new Committee of Sponsoring Organizations (COSO) internal control framework issued in 2013. It also includes a brief overview of integrated aud

39、its ( audits of internal control integrated with financial statement audits) required for certain public companies under PCAOB Standard No.5, with more detailed coverage provided in Chapter 18. This chapter includes a section on the audit requirements when a client outsources its computer processing

40、 to a service organization. Finally, it presents the auditors internal control communication responsibilities.Learning ObjectivesLO 7-1 Define what is meant by internal control.LO 7-2 Distinguish among the major components of a client/s internal control : the control environment, risk assessment, co

41、ntrol activities, the accounting information system, and monitoring of controls.LO 7-3 Describe the auditors consideration of internal control.LO 7-4 Discuss the techniques used by auditors to obtain an understanding of internal control.LO 7-5 Explain how internal control relates to a financial stat

42、ement audit.LO 7-6 Describe the major types of tests of controls.LO 7-7 Describe the auditors responsibility for communicating control-related matters.LO 7-8 Describe the nature of the audits performed under Section 404(b) of the Sarbanes-Oxley Act of 2002.Cash and Financial InvestmentsDescribe how

43、to audit cash and financial investments using the knowledge already learned. The students should focus on the procedures to audit cash as well as internal control of cash.LO 10-1 Describe the sources and nature of cashLO 10-2 Identify the auditors objectives in the audit of cashLO 10-3 Explain the n

44、ature of the cash receipts and disbursements cycles, and describe the fundamental controls over the business processes related to cash.LO 10-4 Use the understanding of the client and its environment to consider inherent risks, including fraud risks, related to cash.LO 10-5 Obtain and understanding o

45、f internal control over cash.LO 10-6 Assess the risks of material misstatement of cash and design further audit procedures, including tests of controls and substantive procedures, to address the risks.Accounts Receivable, Notes Receivable, and RevenueDescribe how to audit A/R, N/R and Revenue using

46、the knowledge already learned. The students should focus on the audit procedures for A/R, N/R and Revenue.LO 11-1 Describe the nature of receivables.LO 11-2 Describe the auditors objectives in the audit of receivables and revenueLO 11-3 Describe the documents, records, and accounts that compose the

47、revenue transactions cycle and the fundamental controls over receivables and revenue.LO 11.4 Assess the risks of material misstatement of receivables and revenue and design further audit procedures, including tests of controls and substantive procedures.Inventories and Cost of Goods SoldDescribe how

48、 to audit inventories and cost of goods sold using the knowledge already learned. The students should focus on the audit procedures for inventories and cost of goods sold.LO 12-1 Describe the nature of inventories and cost of goods sold.LO 12-2 Describe the auditors objectives in the audit of invent

49、ories and cost of goods sold.LO 12-3 Describe the documents, records, and accounts that are involved in the purchase and production cycles and the fundamental controls over inventories, purchasing, and production.LO 12-4 Assess the risks of material misstatement of inventories and cost of goods sold

50、 and design further audit procedures, including tests of controls and substantive procedures, to address the risk.Property, Plant, and Equipment: Depreciation and DepletionDescribe how to audit PPE using the knowledge already learned. The students should focus on the audit procedures for PPE.LO 13-1

51、 Describe the nature of property, plant and equipment and depreciationLO 13-2 Identify the auditors objectives in the audit of property, plant and equipment.LO 13-3 Explain the fundamental controls over property, plant and equipment.LO 13-4 Assess the risks of material misstatement of PPE and design

52、 further audit procedures, including tests of controls and substantive procedures, to address the risk.Accounts Payable and Other LiabilitiesDescribe how to audit Accounts Payable using the knowledge already learned. The students should focus on the audit procedures for Accounts Payable.LO14-1 Descr

53、ibe the nature of accounts payable and other liabilitiesLO14-2 Describe the auditors objectives in the audit of accounts payableLO14-3 Identify and explain the fundamental controls over payables.LO14-4 Assess the risks of material misstatement of accounts payable and design further audit procedures,

54、 including tests of control and substantive procedures, to address the risks.Auditing Operations and Completing the AuditThese procedural chapters deal with internal control and obtaining audit evidence for the various financial statement amounts. The chapters emphasize the risk-based approach stres

55、sed in recent AICPA, PCAOB, and international standards.Learning ObjectivesLO 16-1 Identify the audit objectives for revenue and expenses accounts.LO 16-2 Explain the relationships between revenue and expense accounts and balance sheet accounts.LO 16-3 Describe the nature of appropriate substantive

56、audit procedures to accomplish the objectives for the audit of revenue and expense accounts.LO 16-4 Describe the fundamental controls over payroll.LO 16-5 Complete an audit plan for payroll.LO 16-6 Explain the types of procedures that are necessary to complete the audit.LO 16-7 Describe the auditors

57、 responsibilities for the detection and evaluation of various types of subsequent events.LO 16-8 Explain the steps involved in evaluating audit findings.LO 16-9 Discuss the auditors/ post-audit responsibilities.Auditors ReportsReflects reporting requirements of the AICPA clarity standards, as well a

58、s coverage of PCAOB and international audit reports.Learning ObjectivesLO 17-1 Describe the standard audit report for nonpublic entity (nonissuer) audits.LO 17-2 Describe the standard audit report for public entity (issuer) audits.LO 17-3 Identify the circumstances that result in audit reports with

59、emphasis-of-matter paragraphs and unmodified opinions.LO 17-4 Identify the circumstances that result in modified audit opinions.LO 17-5 Describe the auditors responsibilities for reporting on comparative financial statements.Course RequirementsPreviewPreview before the class through scanning the cha

60、pters and finishing the review questions.AttendanceIt is students/ responsibility to attend class. Students however need to notify the professor of absences prior to class when possible. So if you are absences for more than twice from the class, your final score will be reduced 5 points. Students ar