University of Jordan Jordan University Business School (JUBS)

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1 1. Department Name: Accounting 2. Program Name: Bachelor in Accounting 3. Program Code 4. Course Code and Title: Audit (2) 5. Course credits: 3 6. Pre-requisites: Audit (1) 7. Course Instructor/ Coordinator Name and Dr. Hamzah Al-Mawali h.almawali@ju.edu.jo 8. Course web-page: ccounting 9. Academic year: Semester: First Second 1 st Summer 2 nd Summer 11. Tetbook(s) a. Al_Thuneibat, A. (2015), Auditing in Light of International Standards on Auditing, Dar Wael, Amman, Jordan b. Arens, A. A., Elder, R. J., Beasley, M. S. and (2015), Auditing and Assurance Services, an Integrated Approach, Prentice Hall, Inc., New Jersey. 12. References: 1- Boynton, W. C., Johnson R. N. and Kell W. G. (0202), Modern Auditing, John Wiley and Sons, Inc. New York, USA. 2- Woolf, E. (1997), Auditing Today, Prentice Hall, London. 3- Thibodeau, J. and Freier, D (2009), Auditing After Sarbanes-Oley, 2ed, Mcgaw-Hill. 4- Sherer, M. and Turley, S (Eds). (1997), Current Issues in Auditing, Chapman and Hall, London 13. Other resources used Course description This course concentrates on the application side of the audit process. Emphasis will be given to the impact of information technology on the audit process, statistical and nonstatistical sampling, the application of the audit process on sales and collection cycle, acquisition and payment cycle, payroll cycle, current assets, long term assets, current liabilities, long term liabilities and owners' equity. 15. Course Intended Learning Outcomes: (All CILOs must start with an action verb, please use ANNEX I for getting a better understanding of the Action Verbs and Blooms Taonomy. The mapping of the CILOs with relevance to the PILOs of the 1 JUBS-March 2017

2 program.) CILOs (Preferred not to eceed 12 CILOs) 1. Describe how IT improves internal control system and identify risks to computerized accounting systems (Knowledge). 2. Describe the basic functions, related documents and records in the revenue, purchases, and payroll cycles (Knowledge). 3. Use the following approaches; test data, parallel simulation, and embedded audit module, to test automated controls (Application). 4. Apply the audit process to the basic operating cycles including revenues, purchases, payroll and payment cycles (Application). 5. Distinguish between statistical & nonstatistical sampling and between probabilistic & non-probabilistic sample selection ( Analysis) 6. Design an audit program and integrate the four phases of the audit process (Syntheses). 7. Design and perform tests of controls, substantive tests of transactions, and tests of details of balances for capital stock and retained earnings (Syntheses). 8. Evaluate audit plan, audit program and audit evidence (Evaluation). Mapping to PILOs a b c d E f g H 16. Course evaluation: (Formative and summative assessment methods are epected) 2 JUBS-March 2017

3 Assessment Details/ Eplanation of Number Weight Date(s) Type Assessment in relation to CILOs Quizzes Sampling techniques 5 5 % Week 4 Midterms Reporting, Audit on CAIS 1,2,3 30 % Week 8 Assignments Payroll and Disbursement Cycles 4 10% Week 12 Participation All % Final Cover all the topics % Week 16 Total 100% 17. Description of Topics Covered (The description should be from the tetbook used) Topic Title Auditing Reports Audit sampling Audit of Computerized Systems Audit of Collection Cycle Audit of disbursement Cycle Audit Payroll Cycle Audit cash balanced, liabilities and Owners Equity Description This topic describes The final stage in the auditing process, which is the communication of the auditor s findings to users. This topic covers the related issues such as; applying a procedure to less than 100% of a population, To estimate some characteristic of the population, Advantages of Statistical Sampling. This topic discuss audit issues related to computerized systems, with emphasis to auditing through computer and auditing around computer. This topic covers the auditing process of collection cycle This topic covers the auditing process of disbursement cycle This topic includes the auditing process of HR/ Payroll cycle This topic discuss the audit procedures on some of financial statements elements 3 JUBS-March 2017

4 18. Course Weekly Breakdown: University of Jordan Week Date Topics covered CILOs Teaching Method Assessment 1 Jan. 29 th- February 2nd 2 Feb. 5 th -9 th 3 Feb. 12 th-16th 4 Feb. 19 th 23 rd 5 Feb. 26 th March 2 nd 6 Mar. 5 th -9 th 7 Mar. 12 th 16 th Auditing reports 2, 3 Lectures Auditing reports 2,3 Lectures Audit Sampling 5 Lectures Eercises Audit of Computerized 1,3 Lectures Systems Audit of Computerized Systems Audit of the revenue and collection cycle Audit of the revenue and collection cycle Audit of the acquisition 8 Mar. 19 th- 23rd and payment cycle 9 Mar. Midterm Eam 26 th Apr. 2 nd 6 th 11 Apr. 9 th -13 th 12 Apr. 16 th 20 th 13 Apr. 23 rd 27 th 1,3 Lectures 2,4,8 Lectures 2,4,8 Lectures 2,4,6 Lectures Audit payroll cycle 2,4,8 Lectures Audit of cash balances 3,8 Lectures Audit of liabilities 1,8 Lectures Audit of owners' equity 1,8 Lectures 14 Apr. 30 Audit of the inventory 2,4,5 Lectures May 4 th and warehousing cycle 15 May 7 th Review All Quiz Major Assignment Midterm Eam 16 Final Eam All 4 JUBS-March 2017

5 19. Others: Attendance policies: Absences from eams and handing in assignments on time: Health and safety procedures: Honesty policy regarding cheating, plagiarism, misbehavior: Description Attendance University policy is that students are to attend all classes and to arrive on time. Verified emergencies may require an absence or delay, but habitual tardiness or absence affects your learning and disrupts the class. Your presence is important since student contributions are a significant part of classroom activity and absence deprives others of your contributions. Students are not allowed to miss more than 15% of the classes during the semester. Failing to meet this requirement will be dealt with according to the university disciplinary rules. Eams. Any absence from an eam that is not ecused, will result in a grade of ZERO. For an absence to be ecused, the student must provide an appropriate documentation and give advance notification. Assignments University policy is, that assignments are due on the date assigned. Instructors may refuse to accept late assignments or lower the grade that would be otherwise given. As per university policy The Honor Code is an integral part of university life. Students are responsible, therefore, for understanding the code s provisions. Cheating and attempted cheating, plagiarism, lying, and stealing of academic work and related materials constitute Honor Code violations. In the spirit of the code, a student s word is a declaration of good faith acceptable as truth in all academic matters. To maintain an academic community according to these standards, students and faculty must report all alleged violations to the Honor Committee. Plagiarism is a serious academic offense. Plagiarism is the use of someone else s ideas, words, projects, artwork, phrasing, sentence structure or other work without properly acknowledging the ownership (source) of the property (item). Plagiarism is dishonest because it misrepresents the work of someone else as one s own. Any violations of the University s academic rules, regulations or directives are reported to the head of the department and may result in one of the university 5 JUBS-March 2017

6 disciplinary measures. Course Coordinator: Head of Department: Head of curriculum committee/ School Level: Dean: Approved by the Program Coordinator/ Head of the Department on: Dr. Hamzah Al-Mawali Copy to: Head of Department Assistant dean for Development and Quality Assurance Course Portfolio 6 JUBS-March 2017