Sheridan Course Outlines

ACCG70012
Auditing 1

I: Administrative Information II: Course Details III: Topical Outline(s) Printable Version Public

Section I: Administrative Information

Credit Value: 3.0
Credit Value Notes: N/A
Effective: Spring/Summer 2013
Prerequisites: (ACCG70005)
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Course Name (short): Auditing 1
School: Continuing Ed & Corp Training
Program(s): N/A
Program Coordinator(s): N/A
Course Leader or Contact: Multiple Course Leaders
Originator: Jennifer Frost
Designate: Jennifer Frost
Version: 1.0
Status: Approved - Under Rev (AREV)

Calendar Description
Designed for the student who has not had any experience in auditing, gain an understanding of the philosophy and environment of auditing. Topics include an overview of auditing with special attention given to the nature and economic purpose of audits, auditing standards, audit reports, and audit evidence. Professional ethics and auditors¿ legal liability will also be discussed.

Typical Instructional Format

Distance Education	42.0
Total hours:	42.0

Courses may be offered in other formats.

Section I Notes: This course is delivered through OntarioLearn and is hosted by Durham College. Access to this course is from the OntarioLearn website.

Section II: Course Details

Detailed Description
This course is an introduction for students who have not had any experience in auditing and covers the auditing concepts and procedures of external auditing. The aim is for students to understand the philosophy and environment of auditing. Topics covered include an overview of auditing with special attention given to the nature and economic purpose of audits; reporting, professional standards and ethics; legal liability; audit objectives, evidence, and documentation; planning and analysis; materiality and risk;and internal control.

Program Context

N/A

Course Critical Performance and Learning Outcomes

 
LEARNING OUTCOMES:

To achieve the critical performance, students will have demonstrated 
the ability to:

1. Compare the different types of audits and auditors, and the
standards governing professional practice, especially generally
accepted auditing standards.

2. Evaluate the relationships among financial statements, management
assertions, and audit objectives, and the basic elements of audit
reporting.

3. Assess the concept of materiality and how it relates to audit risk
and how it is relevant to  types of evidence in relation to audit
objectives and audit activities.

4. Apply an understanding of the contents, types, organization, and
ownership of working papers.

5. Illustrate the steps that are performed in planning an audit
engagement and learn the principles of professional conduct, and know
the auditor¿s liability to clients and third parties under common law.

6. Take responsibility for one's own actions, decisions, and
consequences and understand the increasing importance of critical
thinking and ethical decision making in professional judgment.

7. Manage the use of time and other resources to complete assigned 
tasks.

8. Locate, select, organize, and document information using
appropriate methods necessary under the circumstances.

9. Be able to communicate clearly and correctly in the written and
spoken form that fulfills the purpose and meets the needs of the 
audience.

Evaluation Plan
Students demonstrate their learning in the following ways:

Assignments: 30%
Participation: 10%
Mid-term: 20%
Final Exam: 40%

CGA Equivalent. This course combines with Auditing II to give the
student a credit in the CGA program providing at least a B (70+)
standing is achieved. 

Students must write the mid-term and final exam in order to pass this
course.

Provincial Context
The course meets the following Ministry of Training, Colleges and Universities requirements:

Essential Employability Skills
Essential Employability Skills emphasized in the course:

X	Communication	X	Critical Thinking & Problem Solving		Interpersonal
X	Numeracy		Information Management		Personal

Notes: N/A

Prior Learning Assessment and Recognition
PLAR Contact: Multiple PLA Contacts
Students may apply to receive credit by demonstrating achievement of the course learning outcomes through previous life and work experiences. This course is eligible for challenge through the following method(s):

Challenge Exam	Portfolio	Interview	Other	Not Eligible for PLAR

Notes: N/A

Section III: Topical Outline

Some details of this outline may change as a result of circumstances such as weather cancellations, College and student activities, and class timetabling.
Effective term: Spring/Summer 2013
Professor: Multiple Professors
Textbook(s):

Smieliauskas, Bewley
Auditing: An International Approach
5th Canadian Edition
McGraw Hill Ryerson
ISBN: 9780070919914

No text substitute(s) unless otherwise stated.

Applicable student group(s): All
Course Details:

Not Available

Academic Honesty
The principle of academic honesty requires that all work submitted for evaluation and course credit be the original, unassisted work of the student. Cheating or plagiarism including borrowing, copying, purchasing or collaborating on work, except for group projects arranged and approved by the faculty member, or otherwise submitting work that is not the student's own violates this principle and will not be tolerated. Instances of academic dishonesty, including assisting another student to cheat, will be penalized as detailed in the Student Handbook.

Students who have any questions regarding whether or not specific circumstances involve a breach of academic honesty are advised to discuss them with the faculty member prior to submitting the assignment in question.

Discrimination and Harassment
Sheridan is committed to provide a learning environment that respects the dignity, self esteem and fair treatment of every person engaged in the learning process. Behaviour which is inconsistent with this principle will not be tolerated. Details of Sheridan's policy on Harassment and Discrimination are available in the Student Handbook.

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