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College of Business

 

 

NOTE: ACTG 427 is not being offered during Summer 2008.
The course materials below are for reference purposes only.

 

College of Business

Accounting Department

ACTG 427: Assurance & Attestation Services

Spring 2008

                                            

Instructor:               Amy Bourne, CPA (licensed in Texas), M.S.A.

Office:                   310 Bexell Hall

Office Phone:            737-6064 (do not leave a message)

E-mail:                  amy.bourne@bus.oregonstate.edu

Office Hours:            Tuesday/Thur 10-12pm                                                        Monday or Wed evening by appt

                          

Office Hours:

I will be more than willing to assist you during the course in understanding the course material.  It will be to your advantage to seek assistance as soon as you feel you need the help.  This class moves very quickly, and the material builds upon the prior information. Your understanding, of each issue, is critical to the successful completion of this course.  If you are unable to attend the “Office Hours” as listed on the syllabus, contact me via E-Mail and I will attempt to meet with you at a time convenient to both of us.

 

As for emails or blackboard postings, I will respond to emails within 24 hours except on the weekends.   I will do my best to respond within 48 hours on Friday, Saturday and Sunday. 

 

Catalog Description:

Assertions of enterprises gain credibility when examined by an independent third party. Assurance and attestation provide credibility. Coverage includes ethics, risk, materiality, internal control, evidence and reporting

Prerequisites: 

BA 319 (External Reporting II), with a grade of C or better, is an enforced prerequisite. Students must be reasonably proficient at expressing themselves in writing. 

 

 

Learning Outcomes After successfully completing this course, students will be able to

·         A study of techniques available for gathering, summarizing, analyzing and interpreting the data presented in financial statements and procedures used in verifying the fairness of the information. Also emphasizes ethical and legal aspects and considerations.

·          systematize the responsibilities of company management, the audit committee, the internal audit function, and the company’s public accountants with respect to corporate governance, internal controls, and external financial reporting;

·         articulate how the public accounting profession is shaped by its regulatory, self-regulatory, business and legal environments;

·         frame the various elements of the planning, testing and reporting phases of an audit in the context of the overall audit objective and engagement risk assessment;

·         document an accounting system, denoting key controls and control weaknesses;

·         estimate audit population errors using statistical and nonstatistical sampling techniques, and deduce the effect of these sampling results on the audit;

·         map from a set of facts about a company and its financial statement audit to the appropriate audit opinion on those statements;

·         research whether a set of facts about an audit is consistent with Generally Accepted Auditing Standards;

·         elucidate on the causes, methods, signs and consequences of corporate financial statement fraud;

·         converse knowledgeably on the meaning and significance of professional ethics in the public accounting and internal auditing professions;

·         opine on the significance and recent historical development of the independence-in-appearance standard in the public accounting profession.

 

Required Course Materials:

1.  Auditing and Assurance Services (3rd Edition), Louwers, Ramsay, Sinason, Strawser. (ISBN No. 0-07-312824-4) (Required).

            Study Guide to accompany Auditing (at student's discretion).

            Auditing and Systems Exam Questions and Explanations, Gleim (at student's discretion).

2.  Case Study Book:  The Lakeside Company Case Studies in Auditing by Trussel & Frazer (ISBN no. 0-13-158851-6

            The case study is used for group projects --- you may purchase only one book for the group if this helps save money. 

3.  Calculator: 4Function, no programmable calculators may be used for Exams.

 

 

 

 

 

 

 

Opportunities for Success

 

 
Grading:          TERM EXAM #1                                          50  Points    9%

TERM EXAM #2                                          50  Points    9%

                             TERM EXAM #3                                50  Points   9%

                             TERM EXAM #4                                50   Points             9%

                                      FINAL EXAM                                    200 Points  33 %

                                      CASE ANALYSIS (4 * 50 points)       200 Points  33%

PROFESSIONALISM                         +-                       

                             TOTAL                                              600 Points    100%

 

All grades available via blackboard.  I will use the following SCALE in assigning grades at the end of the term:

                   A     540 - 600                       D       360-419

                             B     480 - 539                      F       Below 359

                    C     420 - 479

 

Examinations:

There will be five examinations, four term exams and a comprehensive final.  See the assignment schedule for class dates.  No make-up mid-term exams will be given after the exam date.  If you are involved in campus activities that will prevent you from taking the exam at the scheduled time, you must make arrangements to take the exam early.  If an unavoidable emergency arises, preventing you from taking an exam please discuss with professor.

Note Card: Note cards will NOT be allowed for ANY exam.

       Term Exams -- The first (1st) & third (3rd) term exam will be completed individually.  The second (2nd) & fourth (4th) exam will be completed as a team.  All team members will earn the same grade for the team exam. 

For the 2nd & 4th exam the teams will be organized based on the following:

·         The teams will consist of the same 6 students from your case study groups.

·         But you will be assigned a Z or a Y. 

·         There will be 3 Z’s and 3 Y’s in each group of 6.  The 3 Z’s will take the exam together and the 3 Y’s will take the exam together as a team.  This way there are only 3 team members taking the group exam. 

 

Final Exam –This will be completed individually.  The exam will be completed electronically.  The exam will consist of 200 multiple choice questions similar to the CPA exam section AUD. 

 

Calculation for final exam grade: Your final exam grade will be determined by comparing your total points and your class rank against the following criteria, beginning at the top and proceeding down the list, until your total points for the final exam or class rank satisfy the cutoff:

 

If you rank in the top 10% of the class or you earn 186 points or >

you will be awarded 186 points or greater.

 

If you rank in the top 15% of the class or you earn 180 - 185 points

 you will be awarded 180 -185 points.

 

If you rank in the top 25% of the class or you earn 174 - 179 points

you will be awarded 174 - 179 points.

 

If you rank in the top 50% of the class or you earn 166 - 173 points

you will be awarded 166 – 173 points.

 

If you rank in the top 55% of the class or you earn 160 - 165 points

you will be awarded 60 – 165 points.

 

If you rank in the top 65% of the class or you earn 154 - 159 points

 you will be awarded 154 - 159 points.

 

If you rank in the top 80% of the class or you earn 146 - 153 points

you will be awarded 146-153 points.

 

If you rank in the top 90% of the class or you earn 130 - 145 points

you will be awarded 130 - 145 points. 

 

If you complete the exam you will receive at least 100 points.

Class rank will be determined as the percentage of students with your numeric score or higher, divided by the total number of students registered for the course at the end of the term. This ranking will be determined for both sections of BA427 combined.  Note that this grading system guarantees that at least half of the class will receive a grade of B or better, at least 80% of the class will receive a grade of C or better, and it places no upper limit on the overall exam GPA.

 

Writing to Learn—Case Study Analysis:

Writing to Learn – Comprehensive Case Assignment (CA1, CA2, CA3, CA4)

Groups will be assigned the first day of class.  There are six groups and each group will present four times over the term.  See schedule (at end of syllabus) for specific details.  There will be two groups assigned to each case.  Each group will present one of the following which is located at the end of the case: discussion questions, exercises, apply your research or the impact of Sarbanes-Oxley. 

          The group only needs one case book if you would like to split the cost of the case book.  The group could share the cost of the case book.

 

Professionalism:

The class’s collective learning depends on the professionalism of the individuals in the course.  Professionalism includes attending class, arriving on time, staying for the entire class period, appropriate questions and comments, turning cell phones on vibrate, being prepared for class, etc...  You may arrive to class late, leave early, or have your cell phone on IF you LET ME KNOW.

 

Treat the course the same way you would complete an assignment.  Treat your classmates and Instructor as you would a professional colleague.  Think of class time as an important business meeting. 

 

Attendance:

Attendance is critical for your understanding or the course material.  It will also be critical to you success in this course. Class participation will not only increase your understanding, but will assist the knowledge and understanding of all students in the classroom. Therefore, I reserve the right to adjust grades based on class attendance, participation, and professionalism.

FURTHER DETAILS EXPLAINED IN CLASS

 

Important Dates:

Last Day to Withdraw with a grade of “W”: Friday, May 16th

Final Exam: Wednesday, June 11th at 6pm OR Thursday, June 12th at 12pm

 

Final Grade for Course:

Grades will be posted via blackboard as quickly after the final exam as possible.  Students will be given 24 hours after posting to notify instructor of any errors or questions.  Once grades are posted to the university system they will NOT be changed except in extreme circumstances. 

 

Cheating:

Copying another student’s work is considered cheating.  This is true whether it is homework, a project, a quiz or an exam. If you are caught cheating you are subject to receiving an “F” for the course.  DO NOT CHEAT.  Also, please refer to Rule 15 in the Schedule of classes for guidelines regarding academic dishonesty.

Students are expected to follow University http://oregonstate.edu/admin/stucon/oars.htm and College policies.  

http://oregonstate.edu/admin/stucon/student.htm

 

 

 

 

 

 

 

 

 

 

ACCOUNTING DEPARTMENT POLICIES REGARDING EXAMS

·         CALCULATORS  No programmable calculators, cell phones, head phones or computers may be used during exams.  Only departmental approved calculators will be allowed.  Currently, only simple 4 function calculators and financial calculators such as the TI BA series are approved for exam use.  The bookstore sells simple 4 function calculators for about $4.  NO EXCEPTIONS

·         NO NOTES will be allowed on exams.

·         MIDTERM EXAMS  Attendance is mandatory on scheduled test dates in the section in which you are enrolled.  There will be no "make-up" midterm exams.  If you are unable to take an exam for a legitimate reason acceptable to the instructor, your final exam will be given additional weight proportional to the missing exam score. 

·         NO MAKE UP OR EARLY FINAL EXAMS will be allowed.  An exam session will be scheduled following the regular scheduled exam time for students with exam conflicts.  Only students with a valid excuse for missing the regularly-scheduled final exam are eligible to take the make-up exam.  In other cases students will be encouraged to take the final the following term. 

·         All exams (midterm and final) will be retained by the department.  Any student who fails to turn in all or part of an exam will receive an F (zero points) on the exam.

Extra Credit: Extra Credit is at professor’s discretion based on activities during the semester.

STUDENTS WITH DISABILITIES

Accommodations are collaborative efforts between students, faculty and Services for Students with Disabilities (SSD). Students with accommodations approved through SSD are responsible for contacting the faculty member in charge of the course prior to or during the first week of the term to discuss accommodations. Students who believe they are eligible for accommodations but who have not yet obtained approval through SSD should contact SSD immediately at 737-4098.  

ACADEMIC INTEGRITY

Students are expected to follow University http://oregonstate.edu/admin/stucon/oars.htm and College policies.  

http://oregonstate.edu/admin/stucon/student.htm

 

 

 

                    

 

 

 

 

 

 

 

 

 

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Day

Date

Topics

Class Activities

 

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Professional Ethics  &

Legal Liability

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Tuesday

4/1

Auditing and Assurance Services & Professional Standards

Chapter One & Two

 

Thursday

4/3

Professional Standards

Chapter Two

Case 1 & 2 --- Speaker

 

Tuesday

4/8

Engagement Planning

Chapter Four

 

Thursday

4/10

Chapters 1, 2 & 4

Term Exam One-Individual

E1

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Audit & Management Risk

--------------------------------

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Tuesday

4/15

Management Fraud & Audit Risk

Chapter Three

 

Thursday

4/17

Employee Fraud & the audit of Cash

Chapter Six

Case 3 & 4 ---- Speaker

 

Tuesday

4/22

Internal Control Evaluation

Chapter Five

 

Thursday

4/24

Chapters 3, 5, & 6

Term Exam Two-Group

E2

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Day to Day of an Auditor &

Team Dynamics

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Tuesday

4/29

Revenue & Collection Cycle

Chapter Seven

 

Thursday

5/1

Presentations

Case 5-7 --- Speaker

 

Tuesday

5/6

Acquisition & Expend. Cycle

Chapter Eight

 

Thursday

5/8

Chapters 7 & 8

Term ExamThree-Individual

E3

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Corporate Auditors Perspective

Meeting the requirements of SOX, etc…

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