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Course AIM 4334-5U1 Auditing Professor William Riggs, CPA, MS, MBA, MSA Term Summer 2010 Meets Thursday 6:00-10:00PM pm in SOM 1.110 Professor’s Contact Information Office Phone 214 378-5400 (# to call for a timely answer) Office Phone-UT-D
972 883-5903
Office Location
SOM 4.228
Email Address
riggs@accounting.net 
Office Hours
Thursday 4:30 – 5:45 PM
General Course Information Required Texts & Materials
Auditing & Assurance Services, Louwers, 4th Edition, McGraw-Hill ISBN # 978-0-07-813664-1 www.mhhe.com/louwers4e 
Resources
The textbook for this course provides a wealth of material. However, the universe of auditing Information is much greater than what you will find in the text. Much of it is available in the Online Learning Center (http://highered.mcgraw-hill.com/sites/0073526908/student_view0/index.html). The Online Learning Center offers chapter  by chapter quizzes, flashcards, and other tools valuable to your understanding of auditing.
On
 Elearning 
 
I have posted power point presentations for each chapter available for your use. I have also posted solutions for the exercises for each chapter so that you can check the correctness of your work and practice answering questions.
Course Description AIM 4334 Auditing is a challenging and difficult course
that can vastly add to your knowledge. To be successful in this course, you must devote adequate preparation time. The course text chapter reading assignments and homework problems are indicated on the schedule. AIM 4334 has a value of about 96 points at the CPA exam. If you are having difficulty with the topics presented, please see me at the earliest opportunity. Chapter reading assignments should be completed in a timely manner. The assignment schedule may be modified during the semester if necessary. All efforts will be made to cover each chapter in a detailed manner. Because of the quantity of the material to be covered, an
in depth
study of each chapter cannot be realistically achieved. It is therefore the responsibility of each student to study any portions not covered in class.
 
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Learning Outcomes
Basic concepts, standards, procedures, and practices of auditing are presented. Topics include generally accepted auditing standards, the changing role of the independent auditor in society, professional conduct and ethics, the auditor’s reporting responsibilities, risk assessment, internal control, fraud, evidential matter, and auditing in the global economy. The course will serve as a base for the ever interesting opportunities in Forensic Accounting and Fraud Examination areas.
To use critical thinking To understand and appreciate the ethical, legal and business issues of the public accounting and auditing profession To recognize that auditing and accounting are not limited by national boundaries and that differences do exist.
The current status of international auditing standards. To enjoy the course.
 Class Attendance
Required at all classes. Written attendance will be taken. Due to the summer travelling schedule, if you must miss a class, please make sure you stay in touch with a classmate to help with what you missed and of course come to the office for personal assistance.
 
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Month Day Subject Matter Suggested Homework
(not graded)
 
May
27 Introduction of the course Chapter 1: Auditing & Assurance
Key Term for the chapters Chapter 1-23-45, 1-47
 
June
3 Chapter 2: Professional Standards Chapter 3: Management Fraud and Audit Risk
Key Term for the chapters Chapter 2-28-45, 2-56
 
Chapter 3-20-44, 3-47
Module C due by 6-9 10 Module C: CPA Liability (partial) Chapter 4: Engagement Planning Chapter 5: Risk Assessment Internal Control
Key Term for the chapters Chapter 4-26-46, 4-50, 4-56 Chapter 5-39-62, 5-65, 5-68
 17 Stop and Review 24
Exam 1: Chapters 1-5 and Module C---
Please bring SCANTRON Form 882-E
 Module H due by 6-30
 July
 1 Module H: Information Systems Auditing (Partial) Chapter 6: Fraud and Audit of Cash Chapter7: Revenue and Collections
Key Term for the chapters Chapter 6-24-42, 6-53 Chapter 7-29-56, 7-60,& 61
8 Chapter 8: Revenue and Collection Cycle
 
Chapter 9: Production Cycle
Key Term for the chapters Chapter 8-23-38, 8-40 Chapter 9-21-41, 9-43 & 46
 15 Chapter 10: Investment Cycle Chapter 11: Completing the Audit
Key Term for the chapters Chapter 10-22-46, 10-51 Chapter 11-27-47, 11-52,55
 Module B due by 7-21 22 Chapter 12: Reports on Audited Financial Statements Module A: Other Public Services --Assurance, Attestation Module B: Professional Ethics (Partial)
Key Term for the chapters Chapter 12-26-37-12-44 Module A 15-34
 Modules F and G due by 7-28 29 Modules E, F & G: Audit Sampling (Partial)
Key Term for the chapters Module C-29-60 Module E-25-50
 
 August 5 Exam 2: Chapters 6-12 and Modules A-B & F-H
 --Please bring SCANTRON Form 882-E
 
 Assignments & Academic Calendar Summer 2010
Chapters and timelines are subject to change at the discretion of the Professor.

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