ACCG32007D
Fundamental Auditing
Sheridan
 
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
 
Section I: Administrative Information
  Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Fall 2020
Prerequisites: ACCG32004D
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: 45 credits including ACCG32004D

Program(s): Bach Bus Admin Market Manage, Bach Business Admin Accounting, Bach Business Admin Finance, Bach Human Resources, BachBus Admin Spply Chain Mgmt
Program Coordinator(s): Lorraine Alyea, Sathy Sritharakumar, Carol Bureau, Maryam Hafezi, Mark Weaver
Course Leader or Contact: Ernie Kerst
Version: 20200914_00
Status: Approved (APPR)

Section I Notes: This course will be delivered in a face-to-face or hybrid format.

 
 
Section II: Course Details

Detailed Description
Students develop a solid understanding of the principles and procedures of external auditing. Students examine key topics within auditing, including reporting, professional standards and ethics, legal liability, audit objectives, evidence and documentation, planning and analysis, materiality and risk, internal control, audit sampling, and computer auditing. The students explore the functions and procedures related to the revenue and collection cycle, acquisition and expenditure cycle, inventory and capital asset balances, production and payroll cycle, finance and investment cycle, and completion of the audit, including evaluation and communication of findings. Instructional strategies include; interactive lectures, class discussion, projects, case analysis, and practice-based assignments.

Program Context

 
Bach Bus Admin Market Manage Program Coordinator(s): Carol Bureau
Fundamental Auditing is a required course in the Bachelor of Business Administration (BBA) Accounting program and an elective course in BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It is designed to contribute to the development of the students understanding of objectives and procedures necessary for the audit of financial statements. The course is designed to meet the requirements of the professional accounting program of study.

Bach Business Admin Accounting Program Coordinator(s): Lorraine Alyea
Fundamental Auditing is a required course in the Bachelor of Business Administration (BBA) Accounting program and an elective course in BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It is designed to contribute to the development of the students understanding of objectives and procedures necessary for the audit of financial statements. The course is designed to meet the requirements of the professional accounting program of study.

Bach Business Admin Finance Program Coordinator(s): Mark Weaver
Fundamental Auditing is a required course in the Bachelor of Business Administration (BBA) Accounting program and an elective course in BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It is designed to contribute to the development of the students understanding of objectives and procedures necessary for the audit of financial statements. The course is designed to meet the requirements of the professional accounting program of study.

Bach Human Resources Program Coordinator(s): Sathy Sritharakumar
Fundamental Auditing is a required course in the Bachelor of Business Administration (BBA) Accounting program and an elective course in BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It is designed to contribute to the development of the students understanding of objectives and procedures necessary for the audit of financial statements. The course is designed to meet the requirements of the professional accounting program of study.

BachBus Admin Spply Chain Mgmt Program Coordinator(s): Maryam Hafezi
Fundamental Auditing is a required course in the Bachelor of Business Administration (BBA) Accounting program and an elective course in BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It is designed to contribute to the development of the students understanding of objectives and procedures necessary for the audit of financial statements. The course is designed to meet the requirements of the professional accounting program of study.


Course Critical Performance and Learning Outcomes

  Critical Performance:
By the end of this course students will have demonstrated the ability to identify the various components and associated risks of an assurance audit.
 
Learning Outcomes:

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

  1. Discuss the degree, designation, and experience requirements and qualifications of auditors.
  2. Differentiate between the various types of audits, auditors, and reasons for each audit.
  3. Explain the rules of professional ethics and legal liability for the accounting/auditing profession.
  4. Apply the generally accepted auditing standards to the planning of an audit.
  5. Evaluate a client's internal control system to assess risk.
  6. Prepare a basic audit program outlining the tests for a company's system of internal controls.
  7. Describe the transactions, documents, confirmations, controls and accounts included in the sales, acquisitions and disbursements cycles.
  8. Explain the procedures for inventory counts, inventory observation, and cutoff tests.
  9. Describe the audit tests, transactions, documents, accounts and controls of the production cycle, payroll cycle, finance and investment cycle.
  10. Prepare analytical and detailed audit tests for overall revenue and expense accounts.
  11. Demonstrate professional behaviour including a. meet due dates b. produce professional quality assignments c. use reference materials responsibly

Evaluation Plan
Students demonstrate their learning in the following ways:

 Evaluation Plan: IN-CLASS & ONLINE INSTRUCTION
 Mid-term Test30.0%
 Cumulative Final Exam40.0%
 Audit Case Study Assignment15.0%
 Pre-class Case Study Assignments (12 x .625%)7.5%
 Post-class Quizzes (12 x .625%)7.5%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
In addition to achieving a minimum 50% overall grade, a student must have a combined average of at least 50% on the non-group components of the evaluation plan in order to receive credit for this course.



Evaluation Plan: IN-CLASS
 Mid-term Test30.0%
 Cumulative Final Exam40.0%
 Audit Case Study Assignment15.0%
 Pre-class Case Study Assignments (12 x.625%)7.5%
 Post-class Quizzes (12 x .625%)7.5%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
In addition to achieving a minimum 50% overall grade, a student must have a combined average of at least 50% on the non-group components of the evaluation plan in order to receive credit for 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

  • Not Eligible for PLAR

 
 
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.
Print Instruction Mode Professor Applicable Student Group(s)
In-Class Multiple Professors Bachelor of Business Administration
In-class & Online Instruction Multiple Professors Bachelor of Business Administration

Sheridan Policies

All Sheridan policies can be viewed on the Sheridan policy website.

Academic Integrity: The principle of academic integrity 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 professor, or otherwise submitting work that is not the student's own, violates this principle and will not be tolerated. Students who have any questions regarding whether or not specific circumstances involve a breach of academic integrity are advised to review the Academic Integrity Policy and procedure and/or discuss them with the professor.

Copyright: A majority of the course lectures and materials provided in class and posted in SLATE are protected by copyright. Use of these materials must comply with the Acceptable Use Policy, Use of Copyright Protected Work Policy and Student Code of Conduct. Students may use, copy and share these materials for learning and/or research purposes provided that the use complies with fair dealing or an exception in the Copyright Act. Permission from the rights holder would be necessary otherwise. Please note that it is prohibited to reproduce and/or post a work that is not your own on third-party commercial websites including but not limited to Course Hero or OneNote. It is also prohibited to reproduce and/or post a work that is not your own or your own work with the intent to assist others in cheating on third-party commercial websites including but not limited to Course Hero or OneNote.

Intellectual Property: Sheridan's Intellectual Property Policy generally applies such that students own their own work. Please be advised that students working with external research and/or industry collaborators may be asked to sign agreements that waive or modify their IP rights. Please refer to Sheridan's IP Policy and Procedure.

Respectful Behaviour: Sheridan is committed to provide a learning environment that supports academic achievement by respecting 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, Academic Integrity and other academic policies are available on the Sheridan policy website.

Accessible Learning: Accessible Learning coordinates academic accommodations for students with disabilities. For more information or to register, please see the Accessible Learning website (Statement added September 2016)

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. Any changes to course curriculum and/or assessment shall adhere to approved Sheridan protocol. 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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