ACC 490 Full Course - Auditing

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ACC 490 WEEK 1

ACC 490 Week 1 Assignment Title- Generally Accepted Auditing Standards
ACC 490 Week 1 Discussion Question :- 1- The Sarbanes-Oxley Act of 2002 has been described
as the most far-reaching legislation affecting business since the passage of the 1933 Securities
Act. What are the specific portions of the legislation that affect the external audit profession,
and how do they affect the profession? How does the legislation affect the internal audit
profession? What are some activities that are implied in the legislation, as well as activities that
will likely emerge as companies implement various provisions of the act? Do you believe the
legislation enhances the power and prestige of the audit profession, or alternatively, does it
decrease both the power and prestige of the profession? Explain.
ACC 490 Week 1 Discussion Question :- 2- Access the U.S. Securities and Exchange Commission
(SEC) Web site, http-//www.sec.gov. What is the most recent litigation brought by the SEC
against a public firm or against an accounting firm? Read the abstract of the complaint and
download the document filed with the court. Comment on the nature of the litigation. What is
the most recent Staff Accounting Bulletin that provides guidance to the profession? What was
the guidance?
ACC 490 Week 1 Discussion Question :- 3- The American Institute of Certified Public
Accountants (AICPA) and the Institute of Internal Auditors (IIA) have positioned the auditing
professions to become assurance professions. What is the difference between assurance
services, attestation services, and auditing services? What are the economic issues that drive
the increased demand for assurance services? What is one assurance engagement and one
attestation engagement other than an audit of financial statements? What are the differences
between the two engagements?

ACC 490 WEEK 2

ACC 490 Week 2 Presentation- Summary
ACC 490 Week 2 Learning Team Assignment - Auditing, Attestation, and Assurance Services
ACC 490 Week 2 Individual Assignment - Chapter 1- Comprehensive Questions 1-23
ACC 490 Week 2 Discussion Question :- 1- What are the components of the audit risk model?
How does the audit risk model affect an audit plan?
ACC 490 Week 2 Discussion Question :- 2- The third generally accepted standard of audit
fieldwork requires that auditors obtain sufficient, competent audit evidence to afford a
reasonable basis for an opinion regarding the financial statements under examination. In
considering what constitutes sufficient, competent audit evidence, a distinction should be
made between underlying accounting data and all corroborating information available to the
auditor. What presumptions can be made about the following?
The relative competence of evidence obtained from external and internal sources.

The role of internal control with respect to internal evidence produced by a client's data
processing system.
ACC 490 Week 2 Discussion Question :- 3- What is the purpose of engagement
planning? What critical information should the auditor consider during engagement
planning? How will this information affect the scope of the audit?

ACC 490 WEEK 3

ACC 490 Week 3 Learning Team Assignment - Assessing Materiality and Risk
ACC 490 Week 3 Learning Team Assignment - (From Text) - written answers to the
following assignments Ch. 6- Comprehensive Question 6-26- Audit programs and assertions
Ch. 7- Case 7-25- New Client Acceptance, part b only
ACC 490 Week 3 Individual Assignment - written answers to the following assignments Ch. 5- Comprehensive Questions 5-30- Assertions
Ch. 6- Comprehensive Questions 6-22- Audit evidence
Ch. 7- Comprehensive Questions 7-22- Understanding the entity and its environment
ACC 490 Week 3 Discussion Question :- 1- How are the analytical procedures used in an audit
engagement? What premise underlies the use of analytical procedures in auditing? What
sources of information can an auditor use to develop expectations? Please provide examples.
ACC 490 Week 3 Discussion Question :- 2- What are the two types of audit tests? What are
some examples of each of these two types of tests? How will the auditor use the data gathered
from these tests?
ACC 490 Week 3 Discussion Question :- 3- Why do auditors have to consider the internal
controls of the organization? What are some key elements of internal control? Which are the
most important? How will the auditor have to modify the audit program if the internal controls
are deemed inadequate to support management assertions?

ACC 490 WEEK 4

ACC 490 Week 4 Learning Team Assignment - Apollo Shoes Case
Sales Internal Control Questionnaire
Revenue Cycle Bridge Working Paper
Memo on Revenue Cycle Problems
Purchasing Cycle Bridge Working Paper
ACC 490 Week 4 Individual Assignment - answers to the following assignments Ch. 8- Comprehensive Questions 8-16- Analytical procedures
Ch. 10- Comprehensive Questions 10-32- Components of internal control
Ch. 11- Comprehensive Questions 11-21- Assessing control risk
ACC 490 Week 4 Discussion Question :- 1- What is the importance of defining the population
when performing audit procedures? How would defining the population affect the sample
size? How would incorrectly defining the population affect the sampling unit?
ACC 490 Week4 Discussion Question :- 2- How does the auditor evaluate the results of audit
procedures? What types of qualitative factors might the audit consider when encountering an
error? How might the results affect the audit conclusion?

ACC 490 Week 4 Discussion Question :- 3- Why do auditors find it necessary to use sampling?
What are the risks associated with sampling? How might these risks affect the audit
conclusion?

ACC 490 WEEK 5

ACC 490 Week 5 Learning Team Assignment - Audit Sampling Case Memo
ACC 490 Week 5 Individual Assignment - Prepare written answers to the following
assignments Ch. 11- Learning Check 11-6
Ch. 11- Learning Check 11-8
Ch. 11- Learning Check 11-9
Ch. 13- Learning Check 13-8

ACC 490 Full Course - Auditing

http://www.learnyourcourse.com/acc-490/19-acc-490-full-course.html