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ACC490 (Auditing) Complete Class All Individual and Learning Team Assignments ,Weekly Summaries and DQs

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Week 1

Individual Generally Accepted Auditing Standards Paper Prepare a 700- to 1,050-word paper in which you explain the nature and functions of auditing. Relate your explanation to the audit functions in your organization, or an organization with which you are familiar. Address the following in your paper: Describe the elements of the Generally Accepted Auditing Standards (GAAS). Describe how these standards apply to financial, operational, and compliance audits. Explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB), will have on audits of publicly traded companies. • Discuss the additional requirements that are placed on auditors from this act and the actions of the PCAOB. • • •

Format your paper consistent with APA guidelines.

Week 2 Individual Ch. 1 Textbook Exercise Resources: Ch. 1 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting Prepare written answers to the following assignment from Modern Auditing: Assurance Services and the Integrity of Financial Reporting: Ch. 1: Comprehensive Question 1-23 – Organizations Associated with the Public Accounting Profession Learning Team Auditing, Attestation, and Assurance Services Paper Prepare a 1,050- to 1,400-word paper in which you compare and contrast auditing, attestation, and assurance services. In your paper, address the following: • • •

An example of each type of service Who might request such a service? What standards apply to each service and who establishes those standards?

Format your paper consistent with APA guidelines. Week 3

Individual Ch. 5, 6, & 7 Textbook Exercises Resources: Ch. 5, 6, & 7 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting


Prepare written answers to the following assignments from Modern Auditing: Assurance Services and the Integrity of Financial Reporting. 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 Learning Team Ch. 6 & 7 Textbook Exercises Resources: Ch. 6 & 7 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting Prepare written answers to the following assignments from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting: • Ch. 6: Comprehensive Question 6-26 – Audit Programs and Assertions Ch. 7: Case 7-25 – New Client Acceptance, Part b Learning Team Assessing Materiality and Risk Simulation Resources: Assessing Materiality and Risk simulation on student website Complete the Assessing Materiality and Risk simulation located on the student website. Prepare a 350-word response to following questions after completing the simulation: • •

Why do certain accounts have to be audited 100%? Why is materiality allocated only to those accounts that are sampled? Is any component of audit risk within the control of the auditor? Explain. How are the three risks that make up audit risk inter-related? Week 4 • • •

Individual Ch. 8, 10, & 11 Textbook Exercises Resources: Ch. 8, 10, & 11 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting Prepare written answers to the following assignments from Modern Auditing: Assurance Services and the Integrity of Financial Reporting: 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 Learning Team Apollo Shoes Case Assignment Resources: Apollo Shoes Case materials located on the student website • •

Complete the Internal Control audit section of the case using the Apollo Shoes Case materials, available under the Assessment section of Week Three on the student website. Review the Planning section, with emphasis on the Apollo Accounting and Control Procedures Manual and the Apollo Shoes Minutes, before completing the Internal Control audit section. Week 5

Individual Ch. 11 & 13 Textbook Exercises Resources: Ch. 11 & 13 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting


Prepare written answers to the following assignments from Modern Auditing: Assurance Services and the Integrity of Financial Reporting: Ch. 11: Learning Checks 11-6, 11-8, & 11-9 Ch. 13: Learning Check 13-8 Learning Team Audit Sampling Case Memo and Presentation Resources: Ch. 13 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting •

Prepare a 1,400- to 1,750-word memo to the Audit Partner, John Smith, summarizing your findings from the following case found in Ch. 13 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting:

Acc 490 entire course