Location: HNE 032 REQUIRED COURSE TEXT/READINGS: • Hall, James A., (2011), Information Technology Auditing, 3e, Mason: South-Western Cengage Learning (Referred to as “IT Audit Text” in the Readings List for each class) • Additional material as listed in the course outline. This includes articles referenced by links, readings from books that were required for prerequisite courses, cases and assignment details posted on our web site. • CICA Assurance Handbook, as available online from
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Auditor independence refers to the position of the external auditor’s level of personal and financial ties to a particular organization which can sometimes be complex. When deciding whether to accept an auditing engagement, one must judge their independence and objectivity. This is why integrity is imperative in business, especially within the world of audit. Congress passed the law, The Sarbanes-Oxley Act of 2002 (SOX) that applies to publicly held companies and their auditors. It was intended
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MIT765801 AUDITING Individual Assignment HIH Insurance Report Student Name: Jinyun Wang Student ID: MIT122634 Lecturer Name: Susan Currie Tutor Name: Susan Currie Due Date: 29 / 1 / 2014 Submitted date: 7/ 2/ 2014 by email Executive Summary The auditing profession plays a significant role in industrialized economies for many years. In the insurance industry, the manner of auditing profession is regulated. The collapse of Health International Holdings (HIH) was recorded as the biggest
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Auditing Fall 2015 ACCT 412A – MWF 1:00 – OLIN 220 Instructor: Diane Slider Farley Office: Olin 110 Email: farleyds@wofford.edu Phone: 597-4530 Course Description and Goals This course is an introduction to auditing and assurance services. We will learn why there is a demand for audits and the basic steps involved in performing an audit. We will apply auditing concepts to cases throughout the semester. Although many concepts must be committed to memory, our focus will be on
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and any applicable management assumptions. Results of auditing procedures that indicate the financial statements or disclosures could be materially misstated or that the auditing procedures need to be significantly modified. Circumstances that cause the auditor significant difficulty in applying auditing procedures he or she considers necessary. Other findings that could result in modification of the auditor’s report. Compliance of Auditing Standards and Audit Documentation – a must for all practice
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100 pts each) 200 pts Cases: 6 total cases Group Cases: You are leader- 1@ 50 pts 50 pts You are group member- 2@25 pts 50 pts Individual Cases- 3 @ 33.33 pts 100 pts Total Points 400 pts Textbooks: Arens, Elder and , Auditing & Assurance Services: An Integrated Approach 15th ed., Prentice-Hall, 2014 Trussel, John M. and Frazer, J. Douglas The Lakeside Company: Case Studies in Auditing, 12th edition, Prentice-Hall , 2012
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team members, etc. How can auditors to more effectively detect financial statement fraud? One of the best ways is to “profit” from the mistakes of others. The following is a list of lessons to be learned from the cases that we examined in class and AICPA codes that are applied to each case. Independence (ET section 101) Rule 101–Independence. A member in public practice shall be independent in the performance of professional services as required by standards promulgated by bodies designated by
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CASE 1.6 NEXTCARD, INC. Synopsis In November 2001, Arthur Andersen & Co. employees in that firm’s Houston office shredded certain Enron audit workpapers during the midst of a federal investigation of the large energy company. The decision to destroy those workpapers ultimately proved to be the undoing of the prominent accounting firm. A few years later, a felony conviction for obstruction of justice would effectively put Andersen out of business. Ironically, at the same time that
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different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Louwers, T. J., Ramsay, R., Sinason, D., & Strawser, J. (2007). Auditing and assurance services: A look beneath the surface (2nd ed.). New York, NY: McGraw-Hill. McCarthy, M. P. & Flynn, T. P. (2004). Risk from the CEO and board perspective: What all managers need to know about growth in a turbulent world. New York
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The talk of having a new body that was tasked with the mandate of overseeing public companies accounting and auditing process had been circulating before the enactment of the Sarbanes-Oxley act. As early as 1990s, the then chairman of the Security and Exchange Commission was already lamenting about the erosion of auditor independence. However, accounting scandals that emerged towards the end of 1990s showed the deplorable state of the corporate world that characterized the United States corporate
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