Course

Auditing

Faculty
Commerce & Business Administration
Department
Accounting
Course Code
ACCT 4750
Credits
3.00
Semester Length
15 Weeks
Max Class Size
30
Method(s) Of Instruction
Lecture
Seminar
Course Designation
None
Industry Designation
None
Typically Offered
Fall
Summer
Winter

Overview

Course Description
This course covers concepts and procedures of external auditing. Topics include: reporting, professional standards and ethics, legal liability, audit objectives, evidence and documentation, planning and analysis, materiality and risk, internal control, sampling, and computer auditing including the use of data analytics tools. Attest procedures related to the revenue and collection cycle, acquisition and expenditure cycle, inventory and capital asset balances, production and payroll cycle, investments, long term debt and equity balances, and the finance and investment cycle are studied. Completion of the audit, including evaluation and communication of findings is also covered.
Course Content
  1. Professional standards, ethics and legal liability.
  2. Audit objectives, evidence, procedures and documentation.
  3. Planning, materiality and risk.
  4. Internal control.
  5. Audit sampling.
  6. Computer auditing including the use of data analytics as an audit tool.
  7. Revenue and collection cycle and acquisition and expenditure cycle.
  8. Inventory and capital asset balances, production and payroll cycle, and finance and investment cycle.
  9. Investments, long term debt and shareholders’ equity balances, and completion of the audit.
Learning Activities

Lectures, seminars and case studies. All methods of instruction apply to in class, hybrid and/or online modes of learning.

Means of Assessment

Evaluation will be carried out in accordance with the Douglas College Evaluation Policy.

Assignments/projects/tests AND case analysis  30%
Midterm examination  35%
Final examination  35%
Total 100%

 

Students must write both the midterm examinations and the final examinations to pass the course.

To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.

Invigilated assessments include, in-class quizzes, in-class tests, midterm exam(s) and the final exam.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

 

Learning Outcomes

At the end of the course, the successful student should be able to:

  1. Discuss the environmental context and issues relating to the attest function;
  2. Plan an audit taking into account concepts of evidence, risk and materiality;
  3. Evaluate internal controls;
  4. Explain sampling techniques and auditing in a computer environment using data analytics where appropriate;
  5. Discuss and perform audit procedures as and when appropriate;
  6. Explain the importance of data integrity and systems reliability in supporting effective decision making.
Textbook Materials

Moroney, Campbell, Hamilton & Warren. Auditing: A Practical Approach, latest Canadian edition. Wiley, or other textbooks as approved by the accounting department.

Only Faculty of Commerce and Business approved calculators may be used in examinations.

Requisites

Prerequisites

ACCT 3310 AND ACCT 3410 AND (BUSN 2429 OR BUSN 3431)

OR

ACCT 3310 AND (currently active in the PDD Accounting or PDD Accounting Studies or PBD Accounting or PBD Accounting & Finance programs)

 

Corequisites

No corequisite courses.

Equivalencies

No equivalent courses.

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

Course Transfers

These are for current course guidelines only. For a full list of archived courses please see https://www.bctransferguide.ca

Institution Transfer Details for ACCT 4750
Capilano University (CAPU) CAPU BFIN 331 (3)
Kwantlen Polytechnic University (KPU) KPU ACCT 3444 (3)
Langara College (LANG) LANG FMGT 3263 (3)
Simon Fraser University (SFU) No credit
Trinity Western University (TWU) TWU BUSI 426 (3)
University Canada West (UCW) UCW ACCT 305 (3)
University of the Fraser Valley (UFV) UFV BUS 347 (3)
University of Victoria (UVIC) UVIC COM 4XX (1.5)

Course Offerings

Winter 2023

CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
13845
Tue
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Yoon
Instructor First Name
Jennifer
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
30
Actual Seats Count
29
1
Actual Wait Count
0
Days
Building
Room
Time
Tue
Building
Online
Room
None
Start Time
18:30
-
End Time
21:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
14368
Fri
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Yoon
Instructor First Name
Jennifer
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
30
Actual Seats Count
25
5
Actual Wait Count
0
Days
Building
Room
Time
Fri
Building
New Westminster - North Bldg.
Room
N4370
Start Time
8:30
-
End Time
11:20