Faculty of Economics & Administrative
Sciences
Department: Accounting
COURSE SYLLABUS
Advanced Studies in International Standards on Auditing and Accounting
Short Description
Student’s Copy
One copy of this course syllabus is provided to each student registered in this course. It should be kept
secure and retained for future use.
I.
Course Information
1.
Course Title
: Advanced Studies in International Standards on
Auditing and Accounting
2.
3.
4.
5.
Corse Code
Credit Hours
Prerequisite
Corequisite
:
:
:
:
:1303714
3
None
None
2. Instructor Information
1.
2.
3.
4.
5.
Instructor
Office
Phone
Email
Office Hours
:
:
:
:
:
Prof. Ali Al-Thuneibat
328
0777767893
athuniebat@zu.edu.jo
Mon, Wed 12:30- 2:30 AM Sat. 11-1 PM
3. Class Time and Place
1.
2.
3.
4.
Class Days and Time:
Class Location
:
Lab Days and Time :
Lab Location
:
Tuesday 1-4
334 h
-----------
4. Course Policies
University regulations are applied to this course, regarding Class Attendance;
Punctuality, Exam, Makeup Exams; Absence with permission; Penalties for Cheating; and
Policies for Assignment and Projects. Students Should be aware of all those in addition
to other rules and regulations.
5. Resources
Main Reference Text Book: .
1International Federation of Accountant (IFA), (2014), Hand Book:
2-
International Standard on Auditing, IFAC.ORG.
IASB, (2013), International Financial Reporting Standards, IASCF,
London, UK.
Additional Reference (s):
1- Elder, R. J., Beasley, M. S. and Arens, A. A., (2014), Auditing and
Assurance Services, An Integrated Approach, Prentice Hall, USA.
2- Boynton, W. C., Johnson R. N. and Kell W. G. (2014 ), Modern Auditing,
John Wiley and Sons, Inc. New York, USA.
3- Alfredson, K., Leo, K., Picker, R., Pacter, P., Radford, J and Wise, V. (2010),
Applying International Financial Reporting Standards, Wiley, Australia.
6.
Course Description and Purpose
The course aims at achieving the following purposes:
1- Understand the accountancy profession, standards setting process, the need and
importance of standards.
2- Understand the international conceptual framework for financial reporting
3- Understand International Framework for Assurance Engagements
4- Understanding audit standards related to auditors’ responsibilities, evidence
materiality, planning and reporting.
5- Understand accounting standards related to measurement, recognition and
presentation and disclosure.
7. Course Learning Outcomes
Upon successful completion of this course, the learner should be able to:
A- Knowledge and understanding (students should):-
1- Understand the nature of auditing and auditors’ responsibilities.
2- Understand audit planning and audit evidence
3- Understand audit risk, materiality and evidence
4- Understand the requirements of audit reporting
5- Understand the accounting standards for measurement, recognition and
presentation of various accounting issues
6- Understand the international framework for accounting and auditing.
B- Intellectual skills with ability to:-
At the end of the course, students are expected to gain knowledge and skills about
international accounting and auditing standards.
C- Subject Specific Skills:
At the end of the course students are expected to:
1- Understand the nature of the audit and accounting standards.
2-Apply the audit standards throughout the audit process.
3- Apply accounting standards throughout the accounting process.
D- Transferable skills – with ability to:-
At the end of the course students are expected to know how to:
1- Design the audit plan and the audit program in light of international standards.
2- Use accounting standards in various accounting issues.
2- Collect and evaluate audit evidence according to international standards
3- Analyze the relationship between audit risk, materiality and audit evidence
4- Carryout accounting and audit research.
8. Methods Of Teaching
LEARNING/ TEACHING METHODS INCLUDE :
1.
Lectures
2. Discussion and problem solving
3. Brainstorming
4. Individual assignments
5. Case Study
6. Presentation
7. Lecturing using PowerPoint Presentations, mixed with discussion with students
8. Asking students to prepare a term paper about a subject or a problem related to
the course
9.
Course Learning Assessment/Evaluation
The following methods of learning assessment will be used in this course:
Assessment
Weight
2 Tests
- Mid Exam
- Final Exam
A
30%
40%
Actives such as Quizzes
B
10%
C
Assignments Research
proposal
10%
D
Presentations/participation
10%
Total
100%
Description
- Multiple choice questions
- True/False
- Short answers
- Essay Questions
- Problem solving
- Explanations
- Multiple choices questions
- True /False
- Short answers
- Problem solving
- Asking students to prepare a
term paper about a subject
or a problem related to the
course, and discuss it in the
class
- Student participation
- Course portfolio
(a) Tests
Test
Mid
Final
Total
Weight %
30%
40%
70%
CLO
-
Due Date
Week 7
Week 16
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(b) Quizzes
Method+
Weight
Quizzes
10%
Total
100
CLO
Chs will be
assigned later
Focus & Scope
To be defined
later
Due Date
To be defined
Relevant CLO will be addressed based on selected topics, will be determined by the instructor
according to his/her decision regarding emphasis on selected topics.
(c) Participation
Method
Weight
CLO
Participation&
Presentation
10%
---
Total
10%
Focus & scope
- Student
contribution
and
cooperation
Due Date
All weeks
All CLO's will be addressed in the students' participation, depending on the class and topic under
consideration
10.
Course Schedule/Calendar
Lecture Programme:
Week
Topic, Readings
1
- The standards setting process
- Introduction
- International Framework for Assurance Engagements
2
- The international conceptual framework for financial reporting
- ISA 200, Overall Objectives of the Independent Auditor
3
- ISA 240, The Auditor’s Responsibilities Relating to Fraud in
4
5
6
7
8
9
10
11
12
13
14
15
an Audit of Financial Statements
- IFRS 1: First-time Adoption of International Financial
Reporting Standards
- ISA 300, Planning an Audit of Financial Statements
- IFRS 5:Non-current Assets Held for Sale and Discontinued
Operations
- ISA 320, Materiality in Planning and Performing an Audit
- IFRS 6: Exploration for and evaluation of mineral Resources
- IFRS 7: Financial Instruments : disclosure
- IFRS 9: Financial Instruments
- IFRS 8 : Operating Segments
- ISA 500, Audit Evidence
- Discussion of Research Papers
Mid-Term Examination
- IFRS 13 : Fair Value Measurements
- ISA 540, Auditing Accounting Estimates, Including Fair Value
Accounting Estimates, and Related Disclosures
- Discussion of Research Papers
- IFRS 14: Regulatory Deferred Accounts
- IFRS 15: Revenue from Contracts with Customers
- ISA 700, Forming an Opinion and Reporting on Financial
Statements
- ISA 705, Modifications to the Opinion in the Independent
Auditor’s Report
Hrs
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
16
Final Examination
I