...above texts are published by Prentice Hall and are available as a bundled package. Prerequisites Computer Resources: Course Objectives: This course is designed to provide you with an understanding of professional auditing as practiced in the United States. Our discussions will focus on various aspects of the auditing profession. Successful completion of this course will provide you with a basic understanding of: * The auditor's consideration of financial statement cycles, * The evaluation of audit evidence, and * The issues related to completing an audit. Honor Code: Each student is expected to behave in a manner that brings honor to himself or herself, to the student body, and to the university community. In keeping with this expectation, students should be familiar with requirements of the Honor System Constitution. All class assignments are expected to be your original work. You are not permitted to use solutions manuals, solutions from prior semester materials, or another student’s materials in completing assignments. All university policies regarding cheating, plagiarism, falsification, nonattendance, and illnesses will be strictly applied and enforced in this course. The Honor Code will be strictly enforced in this course and all aspects of your coursework are covered by Honor System. All assignments submitted to the instructor shall be...
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...the second week of class. Please call the Associate VP for Student Support- 872-3178. My intention is to honor all legitimate requests. The deadline is necessary to allow sufficient time for a meaningful solution. Exceptional circumstances will also be considered at any time during the semester. Student Evaluation: Tests – 2 tests (mid-term and final- 100 pts each) 200 pts Cases: 6 total cases Group Cases: You are leader- 1@ 50 pts 50 pts You are group member- 2@25 pts 50 pts Individual Cases- 3 @ 33.33 pts 100 pts Total Points 400 pts Textbooks: Arens, Elder and , Auditing & Assurance Services: An Integrated Approach 15th ed., Prentice-Hall, 2014 Trussel, John M. and Frazer, J. Douglas The Lakeside Company: Case Studies in Auditing, 12th edition, Prentice-Hall , 2012 Student Learning Objectives- The student will be able to: 1. incorporate professional standards into case analyses and essay responses. 2. perform as a group leader and as a group member to organize work and present it in a professional manner. 3. develop solutions in light of both general business ethics and the AICPA Professional Code of Conduct. 4. demonstrate facility with basic audit steps and the documentation of such work. 5. demonstrate how...
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...decision-making process in both an audit of financial statements and an audit of internal controls over financial reporting. The class consists of lecture, individual case studies and in class exercises. Students are given an introduction to the following topics: • Generally Accepted Auditing Standards (GAAS) • The AICPA Code of Professional Conduct and its related rules and interpretations • An auditors’ legal responsibilities • Auditors professional judgment • The evaluation and testing of internal controls • The effect of IT on the audit process • The development of an audit program • PCAOB standards • The auditor's reports Book: Auditing and Assurance Services by Arens, Elder and Beasley 14ed Publisher Pearson/PrenHall ISBN 978013257595 |2013 |Topic |Assignment/Chapter to read | |Thursday September 5th |Introduction to the CPA Profession and the Auditing |Chapters 1 and 2 | | |Environment | | | | | | |Thursday September 12th |Introduction to the CPA Profession and the Auditing |Chapters 1 and 2 ...
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...The University of Illinois at Chicago College of Business Administration Department of Accounting...
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...CHAPTER 3 Auditors’ Ethical and Legal Responsibilities SOLUTIONS FOR REVIEW CHECKPOINTS 3.1 This arises from the three party accountability discussed in chapter 1. The auditor is hired because users expect there may be such a conflict. If users completely trusted management there would be no need to have an auditor. This is the only way to detect fraudulent or misleading reporting. The logic is to reduce this potential to an acceptable level of risk. If the auditor assumed this risk was zero to start with the auditor would not need to provide evidence that the possibility is low, and that contradicts the reason users demand an audit. 3-2 No, the auditor cannot detect deception without being skeptical. A non-skeptical auditor on finding evidence of fraud may not treat it with the significance it deserves. The rule that suspicious transactions or evidence of management deceit should automatically be considered material, even when the absolute amounts involved may be very small or insignificant, is an example of skeptical logic in action. Since three party accountability implies some degree of mistrust of management by users, the auditor must incorporate skepticism in his or her reasoning process when management makes assertions about the financial statements it has prepared. 3-3 A professional accountant must be prepared to be agent, spectator, advisor, instructor, judge, critic. 3-4 Apparently, in ethical philosophy, the word "conscience" is used...
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...Case One — Solutions HIH Insurance Limited: Inherent Risk Assessment, Legal Liability, Ethics and Audit Reports The case can be used either progressively through the course using questions relating to chapters as they are taught or as a consolidating case at the end of the course. Where possible, students should be encouraged to concurrently research information in the press relating to HIH while they undertake the case. Clearly, the points for discussion may change as further information becomes available. As the legal proceedings in the case are still in progress, the suggested discussion points are not intended in any way to comment on or compromise any investigation. All information provided in the case is available in the public domain. Question 1 —Business Risk and Inherent Risk Assessments a) How would you assess the business risk of HIH Insurance Limited? This question relates to Chapter 6 of the text. HIH's business risk can be discussed in terms of its global, local and control environment. It can also be discussed in terms of understanding the insurance industry and secondly how HIH fits into the industry or by undertaking a SWOT analysis. You may wish to address all three. Below is one approach. This can be built upon be further research by the students and as more information becomes available. • Profitability and structure of the industry. The insurance industry is particularly competitive and there has been significant increase in price competition...
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...CHAPTER 1 Auditing and Assurance Services LEARNING OBJECTIVES | | |Exercises and | | | |Problems | | |Review Checkpoints | | | | | | |Define information risk and explain how auditing and assurance services play|1, 2, 3 |48, 50 | |a role in reducing this business risk. | | | | | | | |Define and contrast accounting, auditing, and assurance services. |4, 5, 6, 7, 8 |47 | | | | | |Describe and define the management assertions embodied in financial |9, 10, 11 |52, 54 | |statements, and why auditors use them as a focal point of the audit. ...
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...Chapter 1 The Financial Manager and the Firm Learning Objectives 1. Identify the key financial decisions facing the financial manager of any business firm. 2. Identify the basic forms of business organization used in the United States, and review their respective strengths and weaknesses. 3. Describe the typical organization of the financial function in a large corporation. 4. Explain why maximizing the current value of the firm’s stock price is the appropriate goal for management. 5. Discuss how agency conflicts affect the goal of maximizing stockholder wealth. 6. Explain why ethics is an appropriate topic in the study of corporate finance. I. Chapter Outline 1.1 The Role of the Financial Manager A. It’s All about Cash Flows • The financial manager is responsible for making decisions that are in the best interest of the firm’s owners. • A firm generates cash flows by selling the goods and services produced by its productive assets and human capital. After meeting its obligations, the firm can pay the remaining cash, called residual cash flows, to the owners as a cash dividend, or it can keep the money and reinvest the cash in the business. • A firm is unprofitable when it fails to generate sufficient cash flows to pay operating expenses, creditors, and taxes. Firms that are unprofitable over time will be forced into bankruptcy by their creditors. In bankruptcy, the company will be reorganized, or the company’s...
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...the university of texas at austin ACC 358C, Introduction to Assurance Services (Cross-listed as ACC 380K.4) Course Syllabus Spring 2012 Times and Location: TTh 8:00 – 9:30 (unique no. 02320 for ACC 358C and 02405 for ACC 380K.4) TTh 9:30 – 11:00 (unique no. 02325 for ACC 358C and 02410 for ACC 380K.4) TTh 12:30 – 2:00 (unique no. 02335 for ACC 358C and 02420 for ACC 380K.4) TTh 2:00 - 3:30 (unique no. 02340 for ACC 358C and 02425 for ACC 380K.4) The morning classes will be held in GSB 2.122. The afternoon classes will be held in GSB 5.153. Note: Please attend the section in which you are enrolled. However, if an emergency or unavoidable conflict on a particular day causes you to miss class, you may attend another section. Please do not abuse this privilege. Instructor Mark Bradshaw, M.P.A., M.B.A., J.D. Forensics Consultant to PwC Audit Professor in Residence, KPMG (2007) Office: GSB.5.124E; Ph.: 475-8852; E-mail: mark.bradshaw@mccombs.utexas.edu Office hours: Tuesdays and Thursdays from 11:15 – 12:15 and by appointment. I generally prefer e-mail as a means of contact outside of class and office hours. Teaching Assistants Star Yuan, traditional M.P.A. student E-mail: star.y.yuan@gmail.com Ashley Ross, 5th year integrated M.P.A. student E-mail: ashley.ross@bba07.mccombs.utexas.edu Star and Ashley will assist with the grading of cases and exams. After graded cases are returned throughout the semester, they will schedule office...
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...| |UNIVERSITI TUNKU ABDUL RAHMAN (UTAR) | | |FACULTY OF BUSINESS AND FINANCE (FBF) | | |Bachelor of Commerce (Hons) Accounting | Unit Plan | | | | | |Unit Code & |UBAF 2023 AUDITING | | |Unit Title: | | | | | | | |Course of Study: |Bachelor of Commerce (Hons) Accounting | | | | | | |Year...
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...Executive summery This academic report is give an enhance knowledge of developing a comprehensive personal and professional development strategies where summarized as below. Chapter 01 Steps of Developing Professional Development Plan and CV Chapter 02 Evaluation on Professional Development Plan Chapter 03 Highlighted on Interpersonal and transferable skills Chapter 04 Focus on Learning in a professional context Table of contents Executive summary 01 Table of contents 02 Chapter 01 03-09 1.1 Introduction on Personal and Professional Development 1.2 Self Assessment 1.3 Personal SWOT Analysis 1.4 Skill Audit 1.5 Personal Development Plan 1.6 Curriculum vitae Chapter 02 10 2.1 Evaluation on Personal Development Plan Chapter 03 11-13 3.1 Interpersonal and transferable skills 3.2 Time Management 3.3 Problem solving 3.4 Communication Chapter 04 14 4.1 Learning Bibliography 15 Chapter 01 1.1 Introduction on Personal and Professional Development Understanding skills, attitudes and knowledge is helpful to develop personal and professional career. According to the Guskey and Huberman (1995)Professional development is those processes and activities designed to enhance the professional knowledge, skills and attitudes of individuals in a working environment so that they might, in turn enhance the performance of the overall organization. This is an ongoing, systematic...
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... OFFICE: HSB 223 OFFICE HOURS: T-Th 1:45 – 4:00 or by appointment PHONE: 710-4769 (Office) and 836-0206 (Home) EMAIL: Chris_Pullig@Baylor.edu Course Description and Objectives: One of the most valuable assets for any firm is the brand associated with its products and/or services. Despite this, very little attention has been paid to the subject in business education. To address this, Strategic Brand Management is an advanced elective that addresses important branding decisions faced by an organization. Its basic objectives are: 1) to increase understanding of the important issues in planning and evaluating brand strategies; 2) to provide the appropriate theories, models, and other tools to make better branding decisions; and 3) to provide a forum for students to apply these principles. Specifically, we will cover: • Building customers’ brand knowledge • Generating brand identities and value propositions • Using the marketing mix to effectively deliver the brand to the marketplace • Measuring brand equity • Creating a comprehensive and effective brand architecture • Managing brands over time Course Organization and Administration: Strategic Brand Management is...
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...want to read more. 3. Begin writing the paper. Start by identifying the problem that is being explored in the case study. 4. Explore the problem, including cause, effect and theory. Give as much background as possible. 5. Discuss the possible solution, and/or how this issue was specifically resolved. Tell what methods were used in the process. 6. Describe benefits of the study. Tell how the benefits overall affect the group to which your case study is aimed. 7. Utilize the general-to-specific-to-general approach. This is the approach to use because it draws the reader in, demonstrates a specific example, and then shows how it applies to the group as a whole. It also shows the reader how they can address their own problem this way. Tips & Warnings • Use facts and numbers where possible. This is specifically aimed at the benefits portion of the case study. Potential readers will be compelled with the numbers and how they are affected by them and remain interested. • Use photos if necessary. If photos are used, be sure they are professionally done so as to not sully the quality of the case study. • Have an executive sign off on your case study when complete, if possible. It increases the credibility of your case study. • Format your paper in an easy to read format like using bold for headings, double spacing, and justifying the alignment. Remember to review your grammar. OR. Instructions 3 Introduce the challenge...
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...Chapter 1 Environment and Theoretical Structure of Financial Accounting AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools, departments, and faculty may approach assessment and its documentation differently, one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor, we have labeled each question, exercise and problem in Intermediate Accounting, 7e with the following AACSB learning skills: Questions 1–1 1–2 1–3 1–4 1–5 1–6 1–7 1–8 1–9 1–10 1–11 1–12 1–13 1–14 1–15 1–16 1–17 1–18 1–19 1–20 1–21 1–22 1–23 1–24 1–25 1–26 1–27 1–28 1–29 AACSB Tags Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking Reflective thinking 1–30 1–31 1–32 Reflective thinking Reflective thinking Reflective thinking Brief Exercises 1–1 1–2 1–3 1–4 1–5 1–6 AACSB Tags Analytic Reflective thinking Reflective thinking Reflective thinking...
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...The Auditor-General Audit Report No.8 2005–06 Performance Audit Management of the Personnel Management Key Solution (PMKeyS) Implementation Project Department of Defence Australian National Audit Office © Commonwealth of Australia 2005 ISSN 1036–7632 ISBN 0 642 80865 1 COPYRIGHT INFORMATION This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and inquiries concerning reproduction and rights should be addressed to the Commonwealth Copyright Administration, Attorney-General’s Department, Robert Garran Offices, National Circuit Canberra ACT 2600 http://www.ag.gov.au/cca ANAO Audit Report No.8 2005–06 Management of the Personnel Management Key Solution (PMKeyS) Implementation Project 2 Canberra ACT 26 August 2005 Dear Mr President Dear Mr Speaker The Australian National Audit Office has undertaken a performance audit in the Department of Defence. in accordance with the authority contained in the Auditor-General Act 1997. Pursuant to Senate Standing Order 166 relating to the presentation of documents when the Senate is not sitting, I present the report of this audit and the accompanying brochure. The report is titled Management of the Personnel Management Key Solution (PMKeyS) Implementation Project. Following its presentation and receipt, the report will be placed on the Australian...
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