ACG 406-001 & -002
Auditing Concepts
Spring 2016
Professor:
Bill Kerler, Ph.D.
Class:
001 section: T,H – 11:00am – 12:15p m
002 section: T,H – 12:30pm – 1:45pm
Cameron Hall 110
Cameron Hall 110
Office:
Cameron Hall 230F
E-mail: kerlerw@uncw.edu
Office Phone: 962-7632
Office hours: T,H: 2pm – 4pm,
W – 11am – 3pm,
and by appointment
UNCW practices a zero-tolerance for violence and harassment of any kind. For emergencies
contact UNCW CARE at 962-2273, Campus Police at 962-3184, or Wilmington Police at 911.
For University or community resources visit http://uncw.edu/care/resources.htm
Course Prerequisite:
Prerequisite: “C” or better in ACG 301 and ACG 306 and admission to Cameron School of Business
Course Catalog Description:
Study of the objectives, standards, procedures and reporting requirements associated with a public
accountant’s role in auditing financial statements, auditing internal controls over financial reporting and
performing assurance engagements. Students will learn how to make client acceptance decisions, plan and
conduct audits and generate appropriate report(s) in light of competitive, legal and ethical constraints.
Course Objectives:
Students should gain an in-depth understanding of auditing.
Required Text:
Title: “Auditing and Assurance Services: A systematic approach, 9th edition”
Authors: Messier, Glover, and Prawitt
Publisher: McGraw-Hill
ISBN: Loose Leaf – 9781259162312 or, Connect access card that includes ebook – 9780077632663
Required Software:
- ACL audit software – provided free through our textbook
- Roger CPA Review program – provided free by company
** Course material (e.g. class notes, assignments, etc.), excluding any written notes, will be posted on my
website: http://www.csb.uncw.edu/people/kerlerw/ **
Grading Criteria:
The grades in this course will be based upon the following activities:
Exam 1:
Exam 2:
Exam 3:
ACL Assignments:
Homework:
Business Week
Roger CPA Assignments
Total:
Final Percentage
93-100
90-92.99
87-89.99
83-86.99
Grade
A
AB+
B
100 points
100
100
60
35
5
30
430 points
Final Percentage
80-82.99
77-79.99
73-76.99
70-72.99
(~23%)
(~23%)
(~23%)
(~14%)
(~8%)
(~1%)
(~7%)
(100%)
Grade
BC+
C
C-
Final Percentage
67-69.99
63-66.99
60-62.99
Below 60
Grade
D+
D
DF
ACL Assignments: ACL is an audit software utilized by many audit firms. A free version of the
software is available for download through our textbook’s publisher. I will email you the link, username,
and password needed to access ACL. Please note that the ACL software is not Mac compatible. The ACL
assignments (presented in the course schedule on the last page) are due at the beginning of class on the
date indicated on the schedule. I will review hardcopies of your work and provide feedback if it is
completed one week before the due date. The assignments will be posted on my website. The three ACL
assignments are each worth 20 points (60 points total in the course) and are graded on accuracy. Late
assignments will not be accepted. ACL assignments must be performed individually!
Homework: The homework assignments (presented in the course schedule on the last page of this
document) are due at the beginning of class on the date indicated on the schedule. The assignments will
be posted on my website. The 11 assignments are equally weighted and together are worth 40 points in
the course. They are graded on effort and you will either receive a 1, ¾, ½, ¼, or 0 on each assignment.
Late assignments will not be accepted. Homework assignments may be completed in groups of no more
than two students.
Roger CPA Assignments: Roger CPA Review has provided free access to their audit review course for
each student in ACG 406. Throughout the semester you will assigned ten Roger CPA assignments. Each
assignment is worth three points and you will receive either full credit for completing or zero credit. All
but one of the assignments requires you to watch video tutorials on audit related concepts. The other
assignment requires you to take a practice multiple choice quiz. The purpose of these assignments is to
reinforce material covered in your text readings and our class discussions. The program will also help
prepare you for my exams by providing you many practice multiple choice questions. Roger CPA
Assignments are to be completed individually!
Business Week: Business Week is being held on Tuesday March 29th and Wednesday March 30th. This
is a great opportunity to learn about accounting areas as well as other areas of business that may interest
you. You are required to attend two business week sessions. Each session is worth 2.5 points in the
course. Attendance tickets will be handed out at each business week session. You must turn these tickets
in on the date indicated in our class schedule (presented on the last page of this document).
End of chapter review questions and multiple choice questions: At the end of each chapter the book
provides a number of review questions and multiple choice questions that review the material from the
chapter. Although these are not assigned to you, they do provide good study material for the exams. I will
post the solutions to these questions on my website.
Disabilities and Accommodations: Please notify me in writing as soon as possible of any impairments
or disabilities that relate to either the class lecture or testing environment. This should be done within the
first week of class.
Make-up Exams: Make-up exams are neither scheduled nor expected. In the unusual case of an
emergency, I require documentation to that effect. Reasons such as multiple tests on the same day, family
vacations, student activities, etc. are not acceptable reasons for missing exams. There is no alternative
time for the final exam.
The University Learning Center
DePaolo Hall 1056 & 1003, first floor , 910.962.7857
www.uncw.edu/ulc
The University Learning Center’s (ULC) mission is to help students become successful, independent
learners. Tutoring at the ULC is NOT remediation: the ULC offers a different type of learning
opportunity for those students who want to increase the quality of their education. ULC services are free
to all UNCW students and include the following:
--Learning Services (University Studies) http://www.uncw.edu/ulc/learning/index.html
--Math Services http://www.uncw.edu/ulc/math/index.html
--Supplemental Instruction http://www.uncw.edu/ulc/si/index.html
--Writing Services http://www.uncw.edu/ulc/writing/index.html
Academic Honesty:
All graded work (exams, homework assignments and ACL assignments) in this course is to be performed
individually.
As a student at UNCW, you are pledged to uphold and support the UNCW Student Academic Honor
Code:
The University of North Carolina Wilmington is a community of high academic standards where
academic integrity is valued. UNCW students are committed to honesty and truthfulness in
academic inquiry and in the pursuit of knowledge. This commitment begins when new students
matriculate at UNCW, continues as they create work of the highest quality while part of the
university community, and endures as a core value throughout their lives.
Guidelines in support of the Honor Code, including definitions of cheating and plagiarism, may be found
at: http://uncw.edu/odos/honorcode/
Again, all graded work in this course is to be performed individually. Examples of honor code violations
include, but are not limited to:
 Copying off another student’s exam
 Letting another student copy off your exam
 Using unauthorized material to complete an exam
 Doing ACL assignments with another student
 Copying ACL assignments from another student
 Giving your ACL assignments to another student (even if you “didn’t know they would copy
your work”)
 Etc.
Following the honor code, any suspected violations of the honor code will be turned in to the Office of the
Dean of Students.
Regardless of the offense, ALL honor code violators will automatically receive
-172 points on the final ACG 406 exam.
Notes:
Day
Date
Tuesday
1/12/2016
Thursday
1/14/2016
Tuesday
1/19/2016
Thursday
1/21/2016
Tuesday
1/26/2016
Thursday
1/28/2016
Tuesday
2/2/2016
Thursday
2/4/2016
Tuesday
2/9/2016
Thursday
2/11/2016
Tuesday
2/16/2016
Thursday
2/18/2016
Tuesday
2/23/2016
Thursday
2/25/2016
Tuesday
3/1/2016
Thursday
3/3/2016
Tuesday
3/8/2016
Thursday
3/10/2016
Tuesday
3/15/2016
Thursday
3/17/2016
Tuesday
3/22/2016
Thursday
3/24/2016
Tuesday
3/29/2016
Thursday
3/31/2016
Tuesday
4/5/2016
Thursday
4/7/2016
Tuesday
4/12/2016
Thursday
4/14/2016
Tuesday
4/19/2016
Thursday
4/21/2016
Tuesday
4/26/2016
Thursday
4/28/2016
Tuesday
5/3/2016
Thursday
5/5/2016
Tentative Schedule
- Schedule is subject to revision at my discretion
- Assignments are due at the beginning of class on the date indicated on the schedule
Chapter / Topic
Course Intro
Chapter 1 - An Introduction to Assurance and Financial Statement Auditing
Chapter 2 - The Financial Statement Auditing Environment
Chapter 2 - The Financial Statement Auditing Environment
Roger CPA Review and ACL Discussion
Chapter 3 - Audit Planning, Types of Audit Tests, and Materiality
Chapter 3 - Audit Planning, Types of Audit Tests, and Materiality
Chapter 4 - Risk Assessment
Chapter 4 - Risk Assessment
Catchup / Review Day
Exam 1: chapters 1-4
Chapter 5 - Evidence and Documentation
Chapter 5 - Evidence and Documentation
Chapter 6 - Internal Control in a Financial Statement Audit
Chapter 6 - Internal Control in a Financial Statement Audit
Chapter 7 - Auditing Internal Control over Financial Reporting
No Class - Spring Break
No Class - Spring Break
Chapter 7 - Auditing Internal Control over Financial Reporting
Chapter 8 - Audit Sampling: An Overview and Application to Tests of Controls
Chapter 8 - Audit Sampling: An Overview and Application to Tests of Controls
No Class - Good Friday Holiday
No Lecture - Business Week
Catchup / Review Day
Exam 2: chapters 5-8
Chapter 9 - Audit Sampling: An Application to Substatntive Tests of Account Balances
Chapter 10 - Auditing the Revenue Process
Chapter 10 - Auditing the Revenue Process
Chapter 17 - Completing the Audit and Reporting Responsibilities
Chapter 17 - Completing the Audit and Reporting Responsibilities
Chapter 18 - Reports on Audited Financial Statements
Reading Day
Final Exam for 11am section: 11:30am - 2:30pm in CH 110
Final Exam for 12:30pm section: 11:30am - 2:30pm in CH 110
Other Dates: January 19: Last day for registration; Last day to drop (without a grade) or add a class.
February 26: Last day to withdraw with a W - undergraduate students
March 4: Graduation application deadline - Spring 2016 - undergraduate students
Pages
Homework & ACL
Assignment Due
Roger CPA Assignment Due
pp. 2-25
pp. 34-58
Chapter 2 Homework
pp. 68-89
pp. 98-120
Watch Lessons: 1.01, 1.03, and 1.05 (54:14 total time)
Chapter 3 Homework Watch Lessons: 1.06, 1.07, 10.8 (36:39 total time)
Chapter 4 Homework
Watch Lessons: 1.09, 1.10, 1.11, 1.12, 1.13 (72:58 total time)
Take 50 multiple-choice question interactive quiz from AUD 1 section
pp. 130-169
pp. 182-216
ACL 1 Assignment
Chapter 5 Homework Watch Lessons: 4.01, 4.02, 4.03, 4.04, 4.05, 4.06 (113:44 total time)
pp. 224-255
Chapter 6 Homework Watch Lessons: 3.01, 3.02, 3.03, 3.05, 3.11 (91:21 total time)
pp. 268-298
ACL 2 Assignment
Chapter 7 Homework Watch Lessons: 3.04, 3.14, 3.15, 3.16 (38:24 total time)
Chapter 8 Homework
Watch Lessons: 5.01, 5.02, 5.04 (53:46 total time)
pp. 308-325
pp. 348-388
Chapter 9 Homework
ACL 3 Assignment
pp. 576-597 Chapter 10 Homework Watch Lesson: 3.06 (25:11 total time)
Chapters 17 Homework
pp. 610-630 Chapter 18 Homework
By Noon: Watch Lessons: 6.01, 6.02, 6.03 (30:00 total time)