Financial Statement Auditing
Instructor:
Professor Greg Jenkins
Office:
3096 Pamplin
Phone:
540.231.2527 (my office) or 540.231.6591 (department phone)
E-mail:
greg.jenkins@vt.edu
Class Hours:
Tuesday/Thursday 11:00 a.m. - 12:15 p.m.
Office Hours:
Tuesday/Thursday 9:00 a.m. - 10:30 a.m. and by appointment
Required Textbooks
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Auditing Cases, 5th Edition, Beasley, Buckless, Glover, & Prawitt
Auditing and Assurance Services, 15th Edition, Arens, Elder & Beasley (AEB)
Note: Both of the above texts are published by Prentice Hall and are available as
a bundled package.
Prerequisites
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ACIS 3414
Course Objectives
This course is designed to provide you with an understanding of professional auditing
as practiced in the United States. Our discussions will focus on various aspects of the
auditing profession. Successful completion of this course will provide you with a basic
understanding of:
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the auditor's consideration of financial statement cycles,
the evaluation of audit evidence, and
the issues related to completing an audit.
Course Administration and Policies
This section describes the expectations that I have of you in this class. I believe that
providing you with these policies will lead to less confusion and will provide a positive
framework within which to conduct the class.
Honor Code
Each student is expected to behave in a manner that brings honor to himself or herself,
to the student body, and to the university community. In keeping with this expectation,
students should be familiar with requirements of the Virginia Tech Honor System. All
class assignments are expected to be your original work. You are not permitted to use
solutions manuals, solutions from prior semester materials, or another student's
materials in completing assignments.
The Honor Code will be strictly enforced in this course and all aspects of your
coursework are covered by Virginia Tech's Honor System. All assignments submitted to
the instructor shall be considered graded work unless otherwise noted.
Preparation, Participation, and Attendance
This course requires a substantial out-of-class time commitment. Reading the assigned
materials, completing assignments, and thinking critically about your reading and
assignments will require much of you.
Your active participation is encouraged and expected. Not only will you personally
benefit from such participation, but your classmates will benefit as well. Given the
nature of the course material, I imagine that we will have some very lively discussions
during the semester. In brief, be prepared for class.
I expect you to attend class on a regular basis. Experience indicates that those students
who attend class on an irregular basis perform very poorly on assignments and exams
and have a difficult time understanding the material. It is your responsibility to complete
any work that you miss. Attendance will be used as a partial basis for determining your
course grade.
Cellphones, Laptops and Electronic Devices
You may not use use your cellphone, laptop, or any other electronic device during class.
Reading Assignments
Primary responsibility for understanding the course material and in-class discussions
rests with you. Therefore, you should read all assigned materials indicated on the Class
Schedule prior to the class session during which the material will be discussed. Failure
to read the material prior to class will limit your ability to participate in and benefit from
class discussions.
Cases
There are various case assignments scheduled for this semester (see Class Schedule
for these cases). The objective of the assignments is to illustrate audit and practice
issues. You will compile a Case Journal during the semester to document your solutions
to the case assignments. The Case Journal will be collected randomly throughout the
semester so that I can evaluate your progress and provide feedback. We will discuss
the cases in class, so you will need to prepare for the discussion by reading the case
and reviewing the case requirements prior to the class date on which the case is listed
on the Class Schedule.
You will prepare your solutions for the various cases using the template provided. You
must prepare your solutions using a 12-point, Arial font - you may not prepare
handwritten solutions. I will provide more guidance about the Case Journal in class.
Exams
There will be two exams. The exams will be given on the dates shown on the Class
Schedule. You should make certain that you will be in class on these dates. If
circumstances make it impossible for you to take a scheduled exam, it is your
responsibility to contact me as soon as possible and to provide appropriate
documentation to validate your absence. A missed exam will count as zero points,
unless in my judgment the circumstances were compelling enough to warrant your
absence. In the event that the circumstances are judged to be reasonable, a make-up
exam will be administered. I do not make past exams available for review purposes and
you should not use one from any other source. Use or possession of prior semester
exams will be treated as a violation of the Honor Code.
Grade Appeals/Corrections
If an error was made in grading an assignment or exam, or an error was made in
posting a grade, you must notify me in writing within one week following the date that
the assignment/exam is handed back and/or reviewed in class. After that time, all
grades become final.
Incompletes
Incomplete grades will be given only in the event of extraordinary circumstances. This
grade designation will not serve as a substitute for either a "D" or "F" course grade.
Accomodations for Students with Disabilities
If you are a student with special needs or circumstances, if you have emergency
medical information to share with me, or if you need special arrangements in case the
building must be evacuated, please make an appointment with me during my office
hours within the first week of class to ensure adequate time to make the necessary
arrangements.
Grading
A plus/minus grading scale will be used in the determination of course grades. The
following point scale will be used in determining grades.
393 - 425 A
367 - 379 B+
325 - 337 C+
282 - 294 D+
380 - 392 A-
350 - 366 B
308 - 324 C
265 - 281 D
338 - 349 B-
295 - 307 C-
252 - 264 D-
Activity
Points
Attendance
25
Cases
175
Exams
225
< 252 F
Total Points
425