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Online · School of Business · Accounting, Economics, and Finance

Auditing
ACCT-404

  • CG
  • Section 8WK
  • 11/08/2019 to 04/16/2020
  • Modified 01/29/2020

Course Description

A study of auditing standards and related auditing procedures. Topics include: evaluation of internal control and preparation of the audit program; examination of financial statements and preparation of working papers; and auditors’ reports and opinions.

Requisites

Prerequisites 

ACCT 302

 

Rationale

Those who elect to begin their career in the public accounting arena will obviously need to know the basics of their profession of auditing, as will those who begin their career in private accounting or governmental accounting and then enter public accounting. In addition, those who never work as auditors themselves may find themselves asked by their employer to assist the outside auditor in his or her work; in this case, it is very helpful to be familiar with basic auditing theory and procedures. A knowledge of auditing, especially the limitations thereof, is also helpful to users of financial data in order to appreciate the degree to which they should rely on the published financial statements.

Measurable Learning Outcomes

Upon successful completion of this course, the student will be able to:

  1. Understand the purpose of Generally Accepted Auditing Standards for both public and private companies.
  2. Critically evaluate the application of Generally Accepted Auditing Standards in selected instances in achieving the audit objectives inherent in said standards.
  3. Critically evaluate the application of Generally Accepted Auditing Standards in selected instances in achieving the audit objectives of an auditor who possesses a Christian worldview.

Course Resources

The resource below is provided in the course at no cost to the student. However, if the student prefers a physical copy of the resource, he or she may purchase it through the Liberty University Online bookstore, MBS Direct. The purchase of physical copies is optional.

Louwers, T. J., Ramsay, R. J., Sinason, D. H., Strawser, J. R., & Thibodeau, J. C. (2018). Auditing & assurance services – With CD (7th ed.). New York, NY: McGraw-Hill.

Disclaimer: The above resource provide information consistent with the latest research regarding the subject area. Liberty University does not necessarily endorse specific personal, religious, philosophical, or political positions found in this resource.

Additional Materials for Learning

  1. Computer with basic audio/video output equipment
  2. Internet access (broadband recommended)
  3. Blackboard recommended browsers
  4. Microsoft Office
  5. Holy Bible
  6. Access to a scanner
  7. APA formatting information: http://ezproxy.liberty.edu/login?url=http://APAStyleCENTRAL.apa.org

Course Assignments

Textbook readings and lecture presentations

Course Requirements Checklist

After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.

Group Discussion Board Forums (4)

For this collaborative discussion board, the student will compose a 400–500-word thread within his or her assigned group forum in each of the assigned modules/weeks. Each thread must cite at least 2 sources in current APA format. In the following modules/weeks, the student will submit a reply to the thread of at least 1 classmate from the previous module/week. Each reply must be at least 200 words.

Connect Review Questions

The student will complete assigned questions in Connect to test their knowledge and understanding of proper auditing procedures.

Exams (2)

The student will complete both a Midterm Exam and a Final Exam. Each exam will be open-book/open-notes, consist of multiple-choice questions, and have a time limit of 2 hours and 30 minutes.

Course Grading

Course Requirements Checklist

10

Group Discussion Board Forums

Thread (4 at 75 pts ea)

300

Reply (4 at 50 pts ea)

200

Connect Review Questions

200

Midterm Exam

(Modules 1–4)

150

Final Exam

(Modules 5–8)

150

Total

1010

Policies

Late Assignment Policy

Course Assignments, including discussion boards, exams, and other graded assignments, should be submitted on time.

If the student is unable to complete an assignment on time, then he or she must contact the instructor immediately by email.

Assignments that are submitted after the due date without prior approval from the instructor will receive the following deductions:

  1. Late assignments submitted within one week after the due date will receive up to a 10% deduction.
  2. Assignments submitted more than one week and less than 2 weeks late will receive up to a 20% deduction.
  3. Assignments submitted two weeks late or after the final date of the course will not be accepted outside of special circumstances (e.g. death in the family, significant personal health issues), which will be reviewed on a case-by-case basis by the instructor.
  4. Group projects, including group discussion board threads and/or replies, and assignments will not be accepted after the due date outside of special circumstances (e.g. death in the family, significant personal health issues), which will be reviewed on a case-by-case basis by the instructor.

Disability Assistance

Students with a disability and those with medical conditions associated with pregnancy may contact Liberty University’s Online Office of Disability Accommodation Support (ODAS) at [email protected] for accommodations.  Such accommodations require appropriate documentation of your condition.   For more information about ODAS and the accommodations process, including how to request an accommodation, please visit https://www.liberty.edu/online/online-disability-accommodation-support/. Requests for accommodations not related to disabilities or pregnancy must be directed to the Registrar’s Office, which generally handles medical needs support.

If you have a complaint related to disability discrimination or an accommodation that was not provided, you may contact ODAS or the Office of Equity and Compliance by phone at (434) 592-4999 or by email at [email protected].  Click to see a full copy of Liberty’s Discrimination, Harassment, and Sexual Misconduct Policy or the Student Disability Grievance Policy and Procedures.

Course Attendance

In an effort to comply with U.S. Department of Education policies, attendance is measured by physical class attendance or any submission of a required assignment within the enrollment dates of the course (such as examinations, written papers or projects, any discussion board posts, etc.) or initiating any communication with one’s professor regarding an academic subject. More information regarding the attendance policy can be found in the Academic Course Catalogs. Regular attendance in online courses is expected throughout the length of the term. Students who do not attend within the first week of a sub-term by submitting a required academic assignment (such as the Course Requirements Checklist, an examination, written paper or project, discussion board post, or other academic activity) will be dropped from the course. Students who wish to re-engage in the course are encouraged to contact Academic Advising to discuss their enrollment options. Students who begin an online course, but at some point in the semester cease attending, and do not provide official notification to withdraw, will be assigned a grade of “FN” (Failure for Non-Attendance). Students wishing to withdraw from courses after the official start date should familiarize themselves with the withdrawal policy.

Grading Scale

A B C D F
900-1010 800-899 700-799 600-699 0-599

For courses with a Pass/NP final grade, please refer to the Course Grading section of this syllabus for the assignment requirements and/or point value required to earn a Passing final grade.

Add/Drop Policy

The full policy statement and procedures are published in the Policy Directory.

Honor Code

Liberty University comprises a network of students, Alumni, faculty, staff and supporters that together form a Christian community based upon the truth of the Bible. This truth defines our foundational principles, from our Doctrinal Statement to the Code of Honor. These principles irrevocably align Liberty University’s operational procedures with the long tradition of university culture, which remains distinctively Christian, designed to preserve and advance truth. Our desire is to create a safe, comfortable environment within our community of learning, and we extend our academic and spiritual resources to all of our students with the goal of fostering academic maturity, spiritual growth and character development.

Communities are predicated on shared values and goals. The Code of Honor, an expression of the values from which our Doctrinal Statement was born, defines the fundamental principles by which our community exists. At the core of this code lie two essential concepts: a belief in the significance of all individuals, and a reliance on the existence of objective truth.

While we acknowledge that some may disagree with various elements of the Code of Honor, we maintain the expectation that our students will commit to respect and uphold the Code while enrolled at Liberty University.

Adherence to the principles and concepts established within facilitates the success of our students and strengthens the Liberty community.

The Code of Honor can be viewed in its entirety at http://www.liberty.edu/index.cfm?PID=19155.

Schedule

ACCT 404

Textbooks: Louwers et al., Auditing & Assurance Services (2018).

Module/Week

Reading & Study

Assignments

Points

1

Louwers et al.: chs. 1–2

Bible Readings

1 presentation

Course Requirements Checklist

Class Introductions

Group DB Forum 1 – Thread

Connect Questions

10

0

75

25

2

Louwers et al.: ch. 3, Module A

Bible Readings

1 presentation

Group DB Forum 1 – Reply

Connection Questions

50

25

3

Louwers et al.: chs. 4–5

Bible Readings

1 presentation

Group DB Forum 2 – Thread

Connect Questions

75

25

4

Louwers et al.: ch. 6, Module B

1 presentation

Group DB Forum 2 – Reply

Connect Questions

Midterm Exam

50

25

150

5

Louwers et al.: chs. 7–8

1 presentation

Group DB Forum 3 – Thread

Connect Questions

75

25

6

Louwers et al.: ch. 9, Module E

1 presentation

Group DB Forum 3 – Reply

Connect Questions

50

25

7

Louwers et al.: chs. 10–11

1 presentation

Group DB Forum 4 – Thread

Connect Questions

75

25

8

Louwers et al.: ch. 12, Module F

1 presentation

Group DB Forum 4 – Reply

Connect Questions

Final Exam

50

25

150

Total

1010

DB = Discussion Board

NOTE: Each course module/week (except Module/Week 1) begins on Tuesday morning at 12:00 a.m. (ET) and ends on Monday night at 11:59 p.m. (ET). The final module/week ends at 11:59 p.m. (ET) on Friday.