ACCG70012
Auditing 1
Sheridan
 
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
 

Land Acknowledgement

Sheridan College resides on land that has been, and still is, the traditional territory of several Indigenous nations, including the Anishinaabe, the Haudenosaunee Confederacy, the Wendat, and the Mississaugas of the Credit First Nation. We recognize this territory is covered by the Dish with One Spoon treaty and the Two Row Wampum treaty, which emphasize the importance of joint stewardship, peace, and respectful relationships.

As an institution of higher learning Sheridan embraces the critical role that education must play in facilitating real transformational change. We continue our collective efforts to recognize Canada's colonial history and to take steps to meaningful Truth and Reconciliation.


Section I: Administrative Information
  Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Winter 2019
Prerequisites: ACCG70019
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Accounting and Finance Courses
Program Coordinator(s): N/A
Course Leader or Contact: N/A
Version: 20190107_00
Status: Approved (APPR)

Section I Notes: This is a Durham College course that is offered through Sheridan FCAPS. Students who register for the course through Sheridan will receive credit from Sheridan College only. Access to the course materials will be through OntarioLearn.com.

 
 
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

 
Accounting and Finance Courses Program Coordinator(s): N/A
This is not a compulsory course to this program, but may be of interest to those in this field of study.


Course Critical Performance and Learning Outcomes

  Critical Performance:
N/A
 
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 in accordance with generally accepted auditing standards.
  2. Evaluate the relationships among financial statements, management assertions, and audit objectives as they relate to an external audit.
  3. Describe the auditor's liability to clients and third parties under common law and analyze whether an auditor's conduct conforms to the rules of professional ethics under auditing standards.
  4. Assess the concept of materiality, how it relates to audit risk and how it is relevant to types of evidence in relation to audit objectives and audit activities.
  5. Describe the audit risk model and explain how an auditor's understanding of an entity's internal control helps to assess the risk within the risk model.

Evaluation Plan
Students demonstrate their learning in the following ways:

 Evaluation Plan: ONLINE
 Assignment 120.0%
 Midterm20.0%
 Assignment 220.0%
 Final Exam40.0%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
Students must write the mid-term and final exam in order to pass this course.

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


 

Prior Learning Assessment and Recognition
PLAR Contact (if course is PLAR-eligible) - Office of the Registrar
Students may apply to receive credit by demonstrating achievement of the course learning outcomes through previous relevant work/life experience, service, self-study and training on the job. This course is eligible for challenge through the following method(s):

  • Other
    Notes:  This course is delivered through OntarioLearn at ontariolearn.com and is hosted by (Durham College) DU-ACCT3281.

 
 
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.
Instruction Mode: Online
Professor: Multiple Professors
Resource(s):
 TypeDescription
RequiredTextbookAuditing: A Practical Approach w/ WileyPlus, Moroney, Campbell, Hamilton, Warren, Wiley, 3, ISBN 998119410126, No text substitute(s) unless otherwise stated.

Applicable student group(s): All
Course Details: N/A


Sheridan Policies

It is recommended that students read the following policies in relation to course outlines:

  • Academic Integrity
  • Copyright
  • Intellectual Property
  • Respectful Behaviour
  • Accessible Learning
All Sheridan policies can be viewed on the Sheridan policy website.

Appropriate use of generative Artificial Intelligence tools: In alignment with Sheridan's Academic Integrity Policy, students should consult with their professors and/or refer to evaluation instructions regarding the appropriate use, or prohibition, of generative Artificial Intelligence (AI) tools for coursework. Turnitin AI detection software may be used by faculty members to screen assignment submissions or exams for unauthorized use of artificial intelligence.

Course Outline Changes: The information contained in this Course Outline including but not limited to faculty and program information and course description is subject to change without notice. Nothing in this Course Outline should be viewed as a representation, offer and/or warranty. Students are responsible for reading the Important Notice and Disclaimer which applies to Programs and Courses.


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