Design substantive tests (analytical procedures and tests of detail) for accounts payable, by assertion, using a risk-based approach. Application of the audit process (as listed above) to the inventory and distribution cycle Professional Relationships and Legal Liability Assignment and Class Work Session 11 Textbook 3-20, Discussion/practice questions: Thursday, August 6 Learning Objectives: 4-16, Lance Popper & Rules of Professional Conduct Cases Describe ethics and their relevance Apply rules of professional conduct to case facts REQUIRED READING and identify violations. Chapter 3 -- Professional Relationships: The role Explain the threats to independence and how the of ethics and independence (Omit Independence threats can be mitigated Section) Distinguish between independence in fact and Chapter 4 Liability (Table 4-2, p. 77- 86, –Legal – independence in appearance Section 4 Prevention Omit Section 5) – – Compare the responsibilities with respect auditor’s to errors, fraud, and other irregularities Individual Hand In- Assignment #3 due Distinguish between a business failure and an audit (See Course Website) failure Describe and analyze the to accountant’s liability CPA Handbook third parties under common law and the related Section 5020 defenses CAS 220 CPA Ontario Handbook - Rules of Professional (available from Conduct Assignment and Class Work Session 12 Contingent Liabilities, Audit Completion and Textbook 19-17, Modifications to the Standard Report Discussion/practice questions: Auditor’s Thursday, August 19-18, 20-20, Gabby Case 13th Group Risk Assessment Assignment Due Today
Design substantive tests (analytical procedures and tests of detail) for accounts payable, by assertion, using a risk-based approach. Application of the audit process (as listed above) to the inventory and distribution cycle Session 11 Thursday, August 6 Professional Relationships and Legal Liability Learning Objectives: Describe ethics and their relevance Apply rules of professional conduct to case facts and identify violations. Explain the threats to independence and how the threats can be mitigated Distinguish between independence in fact and independence in appearance Compare the auditor’s responsibilities with respect to errors, fraud, and other irregularities Distinguish between a business failure and an audit failure Describe and analyze the accountant’s liability to third parties under common law and the related defenses Assignment and Class Work Discussion/practice questions: Textbook 3-20, 4-16, Lance Popper & Rules of Professional Conduct Cases REQUIRED READING Chapter 3 -- Professional Relationships: The role of ethics and independence (Omit Independence Section) Chapter 4 –Legal Liability – (Table 4-2, p. 77- 86, Section 4 – Prevention – Omit Section 5) Individual Hand In- Assignment #3 due (See Course Website) CPA Handbook Section 5020 CAS 220 CPA Ontario Handbook - Rules of Professional Conduct (available from Session 12 Thursday, August 13th Contingent Liabilities, Audit Completion and Modifications to the Auditor’s Standard Report Assignment and Class Work Discussion/practice questions: Textbook 19-17, 19-18, 20-20, Gabby Case Group Risk Assessment Assignment Due Today
4551%20Summer%202015%20Course%20Outline%20rev1.docx