ACA230 - Applied External Audit

Outline information
Semester
Schools offering this subject
Last revision date Mar 18, 2019 8:40:39 AM
Last review date Mar 18, 2019 8:40:49 AM

Subject Title
Applied External Audit

Subject Description
Applied External Audit is an elective course that builds on the technical components from previous auditing courses, focusing on external audit issues. The course assumes that students are familiar with the material related to the first two stages of an audit, acceptance/continuance and audit planning and will focus on the last two stages of execution and reporting.

Credit Status
One Credit

The minimum grade to pass this course is C (60%) and the minimum program GPA to graduate from the Advanced Accounting & Finance program is 60% or C.
 

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Document a client’s business processes, information systems and internal controls for specific accounting cycles;
  2. Apply sampling methods for specified procedures using software such as IDEA;
  3. Execute well-documented specific audit procedures (both tests of controls and substantive tests) in different audit cycles, such as sales and collections, purchases and payments and others based on a simulated audit and using a product such as CaseWare;
  4. Demonstrate understanding of the elements of a high-quality audit working paper and the importance of documentation;
  5. Analyze audit evidence accumulated from the specified audit procedures to identify potential misstatements and draw appropriate conclusions, considering materiality;
  6.  Demonstrate understanding of the CPA Canada Handbook – Assurance requirements with respect to reviews, compilations and special reports;
  7. Explain how to gather evidence, and what level, depending on the type of engagement;
  8. Differentiate between the reporting requirements for each type of engagement.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.