LECTURE 1:

INTRODUCTION &
REVIEW OF AUDITING I
WHILE YOU ARE WAITING, PLEASE FILL OUT YOUR NAME CARD AT THE FRONT OF THE CLASS USING THE FOLLOWING FORMAT:

FIRST NAME AS PER ROSI/BLACKBOARD

(PREFERRED NAME)

LAST NAME AS PER ROSI/BLACKBOARD

MGAD20 Advanced Auditing 1

AGENDA

INTRODUCTION
REVIEW OF CANADIAN AUDITING & ASSURANCE STANDARDS
REVIEW OF AUDITING I
REVIEW OF COURSE OUTLINE

MGAD20 Advanced Auditing 2

INTRODUCTION

MGAD20 Advanced Auditing 3

1
 INSTRUCTOR INTRODUCTION

BACKGROUND

TEACHING EXPERIENCE

CONTINUOUS FEEDBACK

GOALS AND OBJECTIVES FOR THIS COURSE

MGAD20 Advanced Auditing 4

COURSE EXPECTATIONS

MAKE THIS COURSE USEFUL FOR YOU

PARTICIPATE AND ASK QUESTIONS
COMPLETE THE REQUIRED READINGS AND OTHER MATERIALS BEFORE
LECTURE
ATTEMPT THE ASSIGNED QUESTIONS BEFORE LECTURE
SEEK TO UNDERSTAND, NOT MEMORIZE

MGAD20 Advanced Auditing 5

ADMINISTRATIVE INFORMATION

E-MAIL
PREFERRED E-MAIL ADDRESS IS HEN.WONG@UTORONTO.CA AND
MH.HASSANALI@UTORONTO.CA
OFFICE HOURS
MONDAY AND WEDNESDAY (6:30 PM 7:00 PM) IC273
ANY ADDITIONAL OFFICE HOURS WILL BE POSTED ON BLACKBOARD
MAKE SURE TO NOTE THE DAYS THAT OFFICE HOURS ARE CANCELLED

COURSE WEBPAGE
BLACKBOARD

MGAD20 Advanced Auditing 6

2
 COURSE POLICIES

TAKE A MOMENT TO READ THE COURSE POLICIES SECTION OF THE

COURSE OUTLINE
ONCE YOU ARE FINISHED, TURN TO SOMEONE SITTING NEXT TO YOU
AND SAY ANYTHING ABOUT THE COURSE POLICIES SUCH AS:
WHAT YOU LIKE OR DONT LIKE
WHAT YOU EXPECTED TO SEE OR WERE SURPRISED TO SEE
WHAT YOU HAVE QUESTIONS ABOUT

MGAD20 Advanced Auditing 7

COURSE OBJECTIVES

ENHANCE AUDIT AND ASSURANCE KNOWLEDGE PREVIOUSLY

ACQUIRED BY REVISITING THE CORE MATERIALS COVERED IN
MGAC10 AND ADDING MORE OPPORTUNITIES FOR THE
APPLICATION OF THAT KNOWLEDGE.
IDENTIFY, INTERPRET AND ANALYZE APPROPRIATE CANADIAN
AUDITING STANDARDS (CASS) AND OTHER CANADIAN
STANDARDS (OCSS) RELATED TO PREVIOUS KNOWLEDGE
ACQUIRED IN MGAC10 H1 AND ADVANCED AUDIT AND
ASSURANCE TOPICS.

MGAD20 Advanced Auditing 8

COURSE OBJECTIVES (CONTINUED)

APPLY THE ASSERTION AND RISK BASED APPROACH FOR THE

ADVANCED AUDIT AND ASSURANCE TOPICS COVERED.

EXPLAIN HOW ADVANCED AUDIT AND ASSURANCE CONCEPTS RELATE

TO THE SERVICES PERFORMED BY PROFESSIONAL ACCOUNTANTS.

PROVIDE OPPORTUNITIES FOR THE PRACTICAL APPLICATION OF

ADVANCED AUDIT AND ASSURANCE CONCEPTS BY USING A CASE
APPROACH IN LECTURES, ASSIGNMENTS AND EXAMS.
MGAD20 Advanced Auditing 9

3
 COURSE OBJECTIVES (CONTINUED)

CONTINUE TO DEVELOP PROFESSIONAL SKILLS THAT ARE IMPORTANT

IN AUDIT AND ASSURANCE TOPICS SUCH AS CRITICAL THINKING
SKILLS AND PROFESSIONAL JUDGMENT.

PREPARE STUDENTS FOR THE PROFESSIONAL ACCOUNTING EXAMS.

RECOGNIZE THE INTEGRATION OF THE MATERIAL AND CONCEPTS

DISCUSSED IN THE COURSE WITH OTHER AREAS OF ACCOUNTING
AND BUSINESS IN ORDER TO DEVELOP AN INTEGRATED THOUGHT
PROCESS.

MGAD20 Advanced Auditing 10

REVIEW OF CANADIAN
AUDITING & ASSURANCE
STANDARDS

MGAD20 Advanced Auditing 11

CANADIAN A&A STANDARDS

IAASB AASB
CASs OCSs AuGs

CPA Canada Handbook Assurance

MGAD20 Advanced Auditing

12

4
 CANADIAN A&A STANDARDS
CASs OCSs

CSQC 1 CSQC 1

s5021

Audits of FS
OCS
and Other
s5025, 5030, Engagement
Historical 5049, 5050
Standards
Info
Audit Review

FS, Other
CAS 200-820 Other Info Historical Financial
Info, Other Info

s5020 s5020 s5020

OCS Association
Standard
MGAD20 Advanced Auditing 13

REVIEW OF AUDITING I

MGAD20 Advanced Auditing 14

REVIEW OF AUDITING I

KEY CONCEPTS FROM AUDITING I (MGAC10)

MGAD20 Advanced Auditing 15

5
 REVIEW OF COURSE
OUTLINE

MGAD20 Advanced Auditing 16

REVIEW OF COURSE OUTLINE

COURSE MATERIAL
LECTURE SLIDES AND HANDOUTS
REQUIRED READINGS
OPTIONAL READINGS

MGAD20 Advanced Auditing 17

REVIEW OF COURSE OUTLINE

METHODS OF EVALUATION AND GRADES

PARTICIPATION
INDIVIDUAL CASE ASSIGNMENT
MIDTERM EXAM
IN CLASS GROUP ASSIGNMENT
FINAL EXAM

MGAD20 Advanced Auditing 18

6
 REVIEW OF COURSE OUTLINE

POLICY AND PROCEDURE

MISSED TEST AND ASSIGNMENT (INCLUDING MIDTERM)
LATE ASSIGNMENTS
REMARKING POLICY

RECORDED LECTURES

LECTURE SCHEDULE

MGAD20 Advanced Auditing 19

LECTURE 2
COMING UP
MAKE SURE TO COMPLETE THE REQUIRED READINGS AND CASE QUESTIONS BEFORE
LECTURE

LECTURE 3
MAKE SURE TO COMPLETE THE REQUIRED READINGS AND CASE QUESTIONS BEFORE
LECTURE

MGAD20 Advanced Auditing 20