ACCTN305-22A (HAM)

Auditing

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: maxine.hayward@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

: ivbotes@gmail.com
: mo163@students.waikato.ac.nz

Student Representative(s)

Lab Technician(s)

Librarian(s)

: yilan.chen@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
  • Extensions starting with 4, 5, 9 or 3 can also be direct dialled:
    • For extensions starting with 4: dial +64 7 838 extension.
    • For extensions starting with 5: dial +64 7 858 extension.
    • For extensions starting with 9: dial +64 7 837 extension.
    • For extensions starting with 3: dial +64 7 2620 + the last 3 digits of the extension e.g. 3123 = +64 7 262 0123.
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Paper Description

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Attendance

Attendance is expected whether in person or online on ZOOM. There is a strong positive correlation between attendance and the mark in the course. I typically point out and explain the most important topics in my lectures, and the tests focus on these topics. Solutions to cases and in-class activities will be discussed only in class and tutorials. You should study the chapter readings prior to each class meeting.

Homework

At the beginning of our discussion of each chapter, I will select some homework problems for you to work on. These problems are meant to help you understand the concepts we discuss and problems we work on in class. I will not collect the homework problems in class but will post the solutions to the homework one or two days after the homework is assigned (i.e., you will not turn-in homework). I only choose some questions for homework and consider these problems to be the most critical for your learning of the material. You should work through the homework and then check your answers with the provided solutions. Attempting homework before looking at the solutions will test your understanding of the material and will help you focus your studying for the tests. It is your responsibility to keep up with the homework and not to leave all of it until the last minute before the tests – if you do, you will not be able to learn it or have an opportunity to ask any questions about it!

Integrated Audit Practice Case

The Integrated Audit Practice Case (IAPC) consists of cases that capture the essence of conducting an actual audit. The IAPC is completed in groups of 4. Only one copy of the case is required per group. The objectives of the case are to:

  • help you understand the interrelationships among many audit decisions involved in audit planning, audit testing, and the formation of the auditor’s opinion,
  • help you learn how auditors make decisions and perform audits when they are confronted with information about the entire company (where some data may be irrelevant or contradictory), and
  • familiarize you with audit working papers and good working paper techniques.

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Paper Structure

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  • 1 x two hour lecture per week (including in-class activities during lectures and out-of-class practice exercises and cases)
  • 1 tutorial per week

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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • Explain the purpose of auditing.
    Linked to the following assessments:
  • Apply legal and professional requirements relating to the conduct of audits within the New Zealand context.
    Linked to the following assessments:
  • Describe the audit process.
    Linked to the following assessments:
  • Apply professional judgment and interpersonal skills to deliver assurance services in the current business environment.
    Linked to the following assessments:
  • Apply "real world" auditing and work paper techniques.
    Linked to the following assessments:
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Assessment

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The assessments in this paper are designed to:

  1. Evaluate your understanding of auditing concepts and ability to communicate this understanding.
  2. Evaluate your ability to apply auditing concepts and theory to the practice of auditing in the business world.
  3. Assess your knowledge and application skills.
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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Test 1
12 Apr 2022
11:00 AM
30
  • In Class: In Lecture
  • Online: Submit through Moodle
2. Test 2
7 Jun 2022
11:00 AM
30
  • In Class: In Lecture
  • Online: Submit through Moodle
3. Integrated Audit Practice Case Assignments
20
  • Hand-in: In Lecture
  • Online: Submit through Moodle
4. Video Project
3 May 2022
11:00 AM
15
  • Online: Submit through Moodle
5. Tutorial Participation
5
  • In Class: In Tutorial
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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1. Arens, Best, Shailer, Fiedler, Elder, and Beasley (2017). Auditing, Assurance Services & Ethics in Australia.(10th Edition). Pearson Australia. (e-book available)

2. Kerr, D., Elder, R., and Arens, A. (2017). Integrated Audit Practice Case. (7th Edition). Armond Dalton Publishers. (only one copy per group; must purchase at university bookstore)

Reading List:

1. Assurance Standards

https://www.xrb.govt.nz/standards/assurance-standards/auditing-standards/standards-list/

2. The fall and rise of intellectual capital accounting: New prospects from the Big Data Revolution in Meditari Accountancy Research.

Article by M, La Torre; V L Botes; J. Dumay; M. A. Rea; E. Odendaal 2018

https://www-proquest-com.ezproxy.waikato.ac.nz/docview/2112081707?parentSessionId=ZXuRHEL8XloOE0fwIRKhSPVkC%2FVCiEkfjqXpzgb%2FUEA%3D&rfr_id=info%3Axri%2Fsid%3Aprimo&accountid=17287

3. Internal control risk and audit fees: Evidence from China in Journal of Contemporary Accounting & Economics

Article byX-D. Ji; W. Lu; W. Qu

https://web-s-ebscohost-com.ezproxy.waikato.ac.nz/ehost/detail/detail?vid=0&sid=843f18bc-805e-46d2-a681-62e8886fdef1%40redis&bdata=JkF1dGhUeXBlPWlwLHNzbyZzaXRlPWVob3N0LWxpdmU%3d#AN=124713287&db=bth

4. Exploring the use of Robotic Process Automation (RPA) in substantive audit procedures in The CPA Journal

Article by M. Cohen; A Rozario2019

https://www-proquest-com.ezproxy.waikato.ac.nz/docview/2256523155?rfr_id=info%3Axri%2Fsid%3Aprimo

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Recommended Readings

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Other readings

Assurance Standards available at XRB website: https://www.xrb.govt.nz/

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Online Support

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If you require online support for myweb please email helpdesk at: itshelp@waikato.ac.nz
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Workload

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1 two hour lecture per week
1 tutorial per week
This paper will require substantial time to be spent outside of class working on readings, activities, cases and homework. For every hour spent in class, you are expected to spend at least 3.5 hours of study/preparation. This includes, at a minimum, 3 hours per week working with your group on the case assignments.
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Linkages to Other Papers

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Prerequisite(s)

Prerequisite papers: ACCTN202 or ACCT202 and ACCTN204

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ACCT341

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