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Schedule

The schedule below outlines the topics we will be covering in this course, along with the associated time frames and assignments. Note that assignments are due based on North American Eastern Standard Time (ET). This ensures that all students have the same deadlines regardless of where they live.

Discussion forum assignment due dates are as follows:

  • First post is due by 11:59 PM ET on Thursday of the week in which it is assigned, unless otherwise noted.
  • All replies and additional posts are due by 11:59 PM ET on Sunday of the week in which it is assigned, unless otherwise noted.

Unless otherwise noted, all other assignments are due at 11:59 PM ET on Sunday of the week assigned.

Course Orientation and Introduction
Lesson 1: Course Expectations and Research
Lesson 1

Readings:
  1. None

Assignments:
  1. Participate in the Lesson 1 Discussion Forum
  2. Complete Individual Activity: Academic Integrity Tutorial
Lesson 2: The Audit - An Overview of the Process, the Professional, and Audit Quality
Lesson 2

Readings:
  1. Chapter 1 - "The Demand for Audit and Other Assurance Services"
  2. Chapter 2 - " The CPA Profession"

Assignments:
  1. Participate in the Lesson 2 Discussion Forum
  2. Complete the Lesson 2 Quiz
  3. Complete Team Assignment 1: Audit team communication memo
Lesson 3: The Audit Reports and Corporate Governance
Lesson 3

Readings:
  1. Chapter 3 - "Audit Reports"

Assignments:
  1. Complete Individual Activity: Exploring Audit Options
  2. Start work on Team Assignment 2 - Preliminary Engagement Activity - Client understanding and acceptance memo. (Due end of Lesson 5)
Lesson 4: Ethical Decision-Making and the Auditor's Professional Liability
Lesson 4

Readings:
  1. Chapter 4 - "Professional Ethics"
  2. Chapter 5 - "Legal Liability"

Assignments:
  1. Participate in the Lesson 4 Discussion Forum
  2. Complete the Lesson 4 Quiz
  3. Start Individual Activity: Ethics Case Assignment (Due end of Lesson 5)
Lesson 5: The Roles of Documentation and Audit Evidence in the Audit Process
Lesson 5

Readings:
  1. Chapter 7 - "Audit Evidence"

Assignments:
  1. Participate in the Lesson 5 Discussion Forum
  2. Complete the Lesson 5 Quiz
  3. Submit Individual Activity: Ethics Case Assignment
  4. Submit Team Assignment 2: Preliminary Engagement Activity - Client understanding and acceptance memo
Lesson 6: Management Responsibilities and Assertions
Lesson 6

Readings:
  1. Chapter 6 - "Audit Responsibilities and Objectives"

Assignments:
  1. Participate in the Lesson 6 Discussion Forum
  2. Complete the Lesson 6 Quiz
  3. Start Team Assignment 3: Planning the Audit – Management Assertion Workpapers (Due end of Lesson 7)
Lesson 7: Fraud Assessment
Lesson 7

Readings:
  1. Chapter 10 - "Assessing and Responding to Fraud Risks"

Assignments:
  1. Complete the Lesson 7 Quiz
  2. Submit Team Assignment 3
  3. Start Team Assignment 4: Planning the Audit – Fraud Risk Assessment Workpapers Memo (Due end of Lesson 8)
  4. Review for Mid-Term Exam
Mid-Term Exam
Mid-Term Exam

Readings:
  1. Review for the mid-term exam as needed

Assignments:
  1. Complete the mid-term exam
Lesson 8: Audit Planning, Strategy and Audit Program
Lesson 8

Readings:
  1. Chapter 8 - "Audit Planning and Materiality"
  2. Chapter 13 - "Overall Audit Strategy and the Audit Program

Assignments:
  1. Submit Team Assignment 4
  2. Start Team Assignment 5: Planning the Audit – Initial Analytical procedures and Materiality Memo (Due end of Lesson 9)
  3. Complete the Lesson 8 Quiz
Lesson 9: Establishing the Levels of Materiality for the Audit
Lesson 9

Readings:
  1. Chapter 9 - "Assessing the Risk of Material Misstatement"

Assignments:
  1. Complete the Lesson 9 Quiz
  2. Submit Team Assignment 5: Planning the Audit – Initial Analytical procedures and Materiality Memo
Lesson 10: Internal Control and Risk Assessment
Lesson 10

Readings:
  1. Chapter 11 - "Internal Control, and COSO Framework"
  2. Chapter 12 - "Assessing Control Risk and Reporting on Internal Controls"

Assignments:
  1. Complete Team Assignment 6: Planning the Audit – Control Risk Assessment and Overall Audit Risk Assessment Memo
  2. Complete the Lesson 10 Quiz
Lesson 11: Test of Controls and Transactions, and Details of Balances
Lesson 11

Readings:
  1. Chapter 14 - "Audit of Sales and Collections Cycle: Tests of Controls and Substantive Tests of Transactions"
  2. Chapter 16 - "Completing The Tests in The sales and Collections Cycle:  Accounts Receivable"

Assignments:
  1. Complete the Chapter 11 Quiz
  2. Complete Team Assignment 7.1: Limited Audit Procedures – Test of Controls Memo
  3. Complete Team Assignment 7.2: Limited Audit Procedures -- Substative Tests of Transactions and Substative Tests of Account Balances
Lesson 12: Completing the Audit
Lesson 12

Readings:
  1. Chapter 24 - "Completing the Audit"
  2. Review for Final Exam

Assignments:
  1. Complete the Lesson 12 Quiz
  2. Complete Team Assignment 8.1: Completing the Audit
  3. Complete Team Assignment 8.2: Team Evaluation
  4. Prepare for the final exam.
Final Exam
Final Exam

Readings:
  1. Review for the final exam as needed

Assignments:
  1. Complete Final Exam

The exam will be open on Monday at 12:00 AM ET and is due by Tuesday at 11:59 PM ET.

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