lec1 - 09/09/2010 Introduction to Auditing and the Auditors...

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09/09/2010 1 RSM323 Auditing I: Fal 2010 2 Introduction to Auditing and the Auditor’s Report Agenda RSM323 Auditing I: Fal 2010 3 Introduction Instructor Introduction Course Introduction and Expectations Review of Course Outline Introduction to Auditing Lecture 1 Introduction to the Auditor’s Report Introduction RSM323 Auditing I: Fal 2010 4 Instructor Introduction RSM323 Auditing I: Fal 2010 5 Background Teaching Experience Continuous Feedback Goals and Objectives for this Course Course Introduction RSM323 Auditing I: Fal 2010 6 Course Objectives Introduce students to the auditing concepts of the assertion and risk analysis approach to auditing Build an understanding of how auditing concepts apply to audits performed in practice by public accountants Allow practical application of auditing concepts using case assignments and a simulated audit in class assignment Course Introduction RSM323 Auditing I: Fal 2010 7 Course Objectives (continued) Develop an understanding of professional judgment as well as how it applies to auditing Incorporate the new Canadian Auditing Standards (CASs) in order to prepare students for the December 14, 2010 implementation of international auditing standards in Canada Prepare students for the accounting professional exams
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09/09/2010 2 Course Expectations Make this course useful for you Participate and ask questions Do the required readings BEFORE class/tutorial Attempt the assigned questions BEFORE class/tutorial Seek to understand, not memorize RSM323 Auditing I: Fal 2010 8 Review of Course Outline RSM323 Auditing I: Fal 2010 9 Review of Course Outline RSM323 Auditing I: Fal 2010 10 E-mail Preferred e-mail address is lisa.harvey@rotman.utoronto.ca Office Hours Mondays 5:00pm to 7:00pm in RT409 Additional office hours before exams Course Webpage Blackboard Review of Course Outline RSM323 Auditing I: Fal 2010 11 Course Material Lecture Slides and Handouts Required Textbook and Case Study Booklet Tutorials Reference Materials Evaluation Participation, Attendance and Quizzes Case Assignments Midterm In Class Assignment Final Exam Introduction to Auditing Lesson 1 RSM323 Auditing I: Fal 2010 12 What is Auditing? RSM323 Auditing I: Fal 2010 13 Academic definition: Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between the assertions and established criteria and communicating the results to interested parties
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09/09/2010 3 Objectivity RSM323 Auditing I: Fal 2010 14 In the business world, information is used to make
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lec1 - 09/09/2010 Introduction to Auditing and the Auditors...

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