The Ohio State University
Max M. Fisher College of Business
Accounting 4500: Auditing
Course Syllabus - Summer 2013
Instructor
Office
Phone
E-mail
Office Hours
Marc H. Smith
348 Fisher Hall
292-8753
mhsmithosu@yahoo.com
Monday 3:00 – 4:00 pm; Thursday 2:30 – 3:30 pm and by appointment
Course Materials:
1. Messier, William F., Jr., Auditing & Assurance Services: A Systematic Approach,
Eighth Edition, Irwin/McGraw-Hill, 2012
Course Objectives:
1. To provide a basic understanding of auditing practice and theory.
2. To enable you to develop and improve your communication skills, both written and oral,
in an auditing context.
3. To learn the key concepts and methods that are used in the preparation and completion
of an audit.
4. To provide a foundation for the passing of the auditing section of the CPA exam.
Class Attendance:
Due to the strong positive correlation between a good grade and a good attendance record for this course, you
should make every effort to attend all class meetings. At The Ohio State University, attendance at scheduled
classes is required, and prolonged unexcused absences will result in cancellation of your registration for the
course. Additionally, regular class attendance and participation is an indication of your effort in the course
and is critical evidence for borderline grade decisions. Interruptions of class by continually arriving late
and/or leaving early, talking, or other disruptive behavior will result in a reduction of ten points per
incident in your attendance grade. Additionally, a large number of class absences will result in a tenpoint reduction per absence in your attendance grade. Finally, all cell phones and other audible
electronic devices must be turned off and put away during class time. Students in violation of this may be
required to immediately leave the classroom with no return until the next scheduled class meeting in
addition to having a ten point reduction in their attendance grade.
Course Website:
The course URL is http://carmen.osu.edu. Solutions to all practice assignments, solutions to quizzes, and
other relevant information will be posted on the course website.
Homework:
There are no formal written homework assignments for this course. However, practice is essential to
mastering this subject matter. Thus, I have indicated recommended practice assignments for each topic
covered (see the last page of the syllabus). These problems can be found in the textbook at the end of each
chapter. The solutions to all assigned problems can be accessed on the carmen course site by clicking on
‘content’ on the top navigation bar and then scrolling down to the bullet point labeled ‘practice assignment
solutions’. While these assignments will not be collected, there is an extremely low probability of success
in this course if you do not attempt the assigned problems.
Quizzes:
There are four, forty-point quizzes scheduled throughout this course (see the assignment schedule). If you
miss a quiz for a valid reason (e.g., sickness, death in immediate family) and provide sufficient
documentation to support your situation, you will receive an excused absence and will need to take a late
quiz. If you miss any quiz without receiving an excused absence, your score for that quiz will be zero. No
early quizzes are given under any circumstance.
Examinations:
Midterm examinations are scheduled on Monday, June 3 and Monday, July 8 and will be given during class
time. The comprehensive final examination is scheduled on Tuesday, July 30 at 12:00 p.m. Please turn
off all cell phones during all class periods.
If you miss an examination for a valid reason (e.g., sickness, death in immediate family) and provide
sufficient documentation to support your situation, you will receive an excused absence and will need to
complete a late exam. If you receive an excused absence from the final examination, you will receive an
incomplete grade until you complete a make-up exam which will be administered at the beginning of the next
semester. If you miss any examination without receiving an excused absence, your score for that
examination will be zero. No early exams are given under any circumstance.
Course Grade:
Your final grade in this course will be determined by the total points you earn from exams and quizzes. The
maximum points you can earn from each are:
Mid-term examination I (06/03)
Mid-term examination II (07/08)
Final examination (07/30)
Class attendance (-10 for each absence/late arrival after 4 instances)
Quizzes (4 x 40 points each)
Total
270 points
270 points
300 points
0 points
160 points
1,000 points
ACCOUNTING 4500
M. H. Smith
Summer 2013
PRACTICE
DATE
May 6
May 8
May 13
May 15
May 20
May 22
May 27
May 29
READING
Chapter 1
Chapter 2
Chapter 18
Chapter 18
Chapter 19
Chapter 19
Chapter 20
Chapter 20
June 3
June 5
June 10
June 12
June 17
June 19
June 24
June 26
July 1
July 3
July 17
July 22
July 24
July 30
Introduction
Financial Statement Auditing
Audit Reporting
Audit Reporting
Professional Ethics
Professional Ethics
Legal Liability of CPAs
No Class: Memorial Day
Legal Liability of CPAs
QUIZZES
Quiz #1
ASSIGNMENTS
1-5, 7, 27
2-5, 8, 24, 25
18-3, 22, 23
18-28
19-12, 28
19-29, 3
20-4, 5
20-26, 28, 29
Midterm Examination I
Chapter 3
Chapter 4
Chapter 4
Chapter 5
Chapter 5
Chapter 6
Chapter 6
Chapter 8
Chapter 8
Chapter 9
Chapter 9
July 8
July 10
July 15
TOPIC
Audit Planning and Materiality
Risk Assessment
Risk Assessment
Evidential Matter
Evidential Matter
Internal Control
Internal Control
Audit Sampling
Audit Sampling
Audit Sampling
Audit Sampling
Quiz #2
3-3, 10, 29, 30
4-2, 23, 24
4-25, 26, 27
5-8
5-30, 35
6-3, 5
6-7, 25
8-2, 7
Quiz #3
8-25, 26, 27, 28
9-7, 21
9-22, 23
Midterm Examination II
Chapter 10
Chapter 10
Chapter 11
Chapter 11
Chapter 16
Chapter 17
Auditing the Revenue Process
Auditing the Revenue Process
Auditing the Purchasing Process
Auditing the Purchasing Process
Cash and Financial Investments
Completing the Audit
Final Examination – 12:00 pm
10-7, 26
10-27, 30
11-3, 27
Quiz #4
11-28, 29
16-7, 26, 29
17-7, 22, 24