ACCT460 - Auditing
Central Washington University
Dr. MaryAnne Atkinson
Summer, 2008

Class time: Tuesday, Thursday,  5:30 - 7:50 p.m.
Office hours: Tuesday, Thursday, 2:00 - 3:00 p.m., and by appointment
Office: Snoqualmie Hall, Room 302F
Office telephone: (509) 963-3885
Office fax: (425) 640-1488
Email address: atkinsom@cwu.edu
Web pages:  http://www.cwu.edu/~atkinsom
Required Textbook: Auditing and Assurance Services: An Integrated Approach, 12th edition, Arens, Elder and Beasley

Course Objective: The objective of ACCT460 is to provide you with a basic knowledge of audit theory and practice and to give you the skills to apply that knowledge to a variety of auditing environments.

By the end of the quarter, you should be able to:

-Understand the auditor's decision making process for audits of financial statements and audits of internal controls over financial reporting
-Understand the objectives to be accomplished to issue an opinion
-Understand the evidence gathering procedures used in an audit
-Understand the auditor's responsibility for fraud risk assessment
-Understand the Sarbanes-Oxley Act and its impact on the auditing profession

Grading:  

• Test 1                 75
• Test 2                 75
• Paper                 50
• Final Exam        100
• Total                 300

Notes: 
-plus/minus grading will be used
-The above grading policy is based on the student’s strict observance of WAC 106-102---STUDENT JUDICIAL CODE, especially Part II, Sub-part B, regarding ACADEMIC DISHONESTY. A student who is in violation of the Code WILL RECEIVE A GRADE OF "F" IN THIS CLASS, and will be subject to further disciplinary action in accordance with University Policy (WAC 106-72-005).

Detailed Course Outline:
Week:
Topics:
Assignment:

June 17 - 19
The Demand for Audit and Other Assurance Services, The CPA Profession, Audit Reports
Chapters 1, 2, 3

June 24 - 26
 Professional Ethics, Legal Liability, Audit Responsibilities and Objectives
Chapters 4, 5, 6 

July 1 - 3
Audit Evidence
Test 1 (Chapters 1 - 6) - Chapter 7

July 8 - 10
Audit Planning and Analytical Procedures, Materiality and Risk, Section 404 Audits of Internal Control and Control Risk
Chapters 8, 9, 10

July 15 - 17
Fraud Auditing, Impact of IT on the Audit Process
Chapters  11, 12

July 22 - 24
Overall Audit Plan, Sampling
Test 2 (Chapters 7 - 12) - Chapter 13 and Audit Sampling (casebook and Chapters 15, 17)

July 29 - 31
Audit of the Sales and Collection Cycle, Audit of the Payroll and Personnel Cycle, Audit of the Acquisition and Payment Cycle, Audit of the Acquisition and Payment Cycle
Chapters 14, 16, 17, 18, 19, 20

August 5 - 7
Audit of the Inventory and Warehousing Cycle, Audit of Cash Balances, Completing the Audit, Other Assurance Services
Chapters  21, 23, 24, 25

August 12 Final Exam  - Comprehensive

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This page was last updated on:  06/16/08