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NOTE: ACTG
427 is not being offered during Summer 2008.
The course materials below are for reference purposes only.
Accounting
Department
ACTG 427:
Assurance & Attestation Services
Spring 2008
Instructor: Amy Bourne, CPA (licensed in
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
|
Day |
Date |
Topics |
Class
Activities |
|
|
--------------- |
------ |
Professional Ethics & |
Legal Liability |
----------- |
|
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 |
|
--------------- |
------ |
Audit & Management Risk |
-------------------------------- |
----------- |
|
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 |
|
--------------- |
------ |
Day to Day of an Auditor & |
Team Dynamics |
----------- |
|
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 |
|
--------------- |
------ |
Corporate Auditors Perspective |
Meeting the requirements of SOX, etc… |
----------- |