ACCOUNTING 440-01 (Ref.

# 025044)
Auditing
6:00-9:00 Wednesday, BE 216
Spring 2016
Instructor:
Dr. Bruce Wampler, CPA
Phone:
318-797-5289
(office)
Office:
BE 318
e-mail:
bruce.wampler@lsus.edu
Office Hours:10:00-11:00 and 3:00-6:00 Monday & Wednesday
11:30-1:30 Tuesday
Appointments may be scheduled at other times if necessary.
Course Description
Study of the independent auditors contribution to reliable financial reporting including the following
topics: professional ethics, legal liability, auditing standards and objectives, evidence collection, internal
controls, audit sampling, and audit reports.
Course Prerequisite
Accounting 310 with a grade of C or better. Students pursuing a bachelors degree in
Accounting must earn a grade of C or better in Accounting 440.
Text
Arens, Elder, & Beasley, Auditing and Assurance Services: An Integrated Approach, 15th ed. (required)
ISBN: 978-0-133-12568-9 (loose-leaf version)
ISBN: 978-0-133-48034-4 (hard-copy version)
Learning Outcomes
Students who successfully complete this course will have an understanding of external audits of financial
statements, including
a) the audit function and the public accounting profession
b) Generally Accepted Auditing Standards
c) the standard audit report and its modifications
d) the auditors ethical and legal environment
e) audit objectives and the audit risk model
f) planning the audit
g) understanding and testing internal control
h) audit evidence and audit sampling
Evaluation, Assessment, and Grade Determination
Exam 1 (Chapters 1-4)
Exam 2 (Chapters 5-8)
Exam 3 (Chapters 9, 10, 13)
Exam 4 (Chapters 15, 17, 24)
Quizzes and exercises
Total points possible

75
100
100
100
25
400

Grades in the course will be based on a ten-percentage-point scale as indicated

below:
A: 90% (360-400 total points)
B: 80% but <90% (320-359 total points)
C: 70% but <80% (280-319 total points)
D: 60% but <70% (240-279 total points)
F: <60% (239 or fewer total points)

Exams and Makeup Policy

Each of the first three exams will be 75 minutes in length, while the last exam will be 120 minutes in
length. Tentative exam dates are indicated on the course calendar; however, these
dates are subject to change with advance notice. If you miss an exam for which you
have a valid excuse, you must notify me and provide the appropriate
documentation prior to the beginning of the next class session in order to
qualify for a make-up exam. If you fail to notify me within the specified time frame
(or if you do not have a valid excuse), you will receive a zero on that exam.
Quizzes and Exercises
Quizzes and other in-class exercises will be given occasionally during the term. Quizzes, which will
consist primarily of multiple-choice questions, are closed-book and usually will be administered at the
beginning of the class period. Exercises are more involved, so students will be allowed access to their
textbook and other notes to complete these assignments. I will attempt to notify you in advance when a
quiz or in-class exercise is planned; however, I do not give makeup quizzes/exercises and students who
are absent on these days will receive a zero. Each quiz/exercise will be worth five points for a total of 25
possible points. Seven quizzes/exercises will be given, but only your five highest scores will be counted
(i.e., the two lowest scores will be dropped).
Homework
Homework assignments are indicated on the assignment sheet (these assignments
are subject to change at the discretion of the instructor). Solutions to these
assignments will be made available on Moodle; however, you should consult these
solutions only after you have completed (or at least attempted) the assignment.
Certain assignments will be discussed in class, and you should be prepared to
contribute to the discussion. To be successful in this course, you must work and
understand the homework, even though it will not ordinarily be collected or
graded.
Classroom Conduct
I expect and encourage each student to participate in classroom activities and discussions. Feel free to
offer your input in class and to ask questions on any points needing clarification. However, please
remember to behave with courtesy and respect toward your professor and fellow students. To be more
specific, please do not engage in private conversations during class, since this is a distraction to me and
other students. Instead, direct your comments and observations toward me and the rest of the class.
The cardinal rule regarding classroom conduct is to avoid disrupting the class that is, dont do
anything that distracts students (or me) from the material that we are studying. Examples of disruptive
behavior may include, but are not limited to:
Arriving after class has begun or leaving before class has ended
Packing up books and other belongings before class has been dismissed
Using a cell phone (for any purpose, including texting) during class
Talking during class (of course, this doesnt include comments directed to me and/or the class)
I reserve the right to make a one-point deduction from your overall percentage grade in the course for
each instance of disruptive behavior.
Attendance
You are encouraged to attend class regularly, since excessive absences will likely have a detrimental
impact on your exam performance. I will maintain a record of attendance, but I neither award points for
good attendance nor deduct points for poor attendance. Please arrive to class on time, and if it is

necessary for you to leave class early, please inform me before class begins. You are responsible for all
material covered and any announcements made in class, even if you are absent. I do not provide my notes
to students.

Tentative Course Calendar*

Day
Date
Expected Coverage
Wednesday
1/13
Introduction, Chapter1
Wednesday
1/20
Chapters 2 & 3
Wednesday
1/27
Chapters 3 & 4
Wednesday
2/3
Exam One (chapters 1-4), Chapter 5
Wednesday
2/10
Chapters 5 & 6
Wednesday
2/17
Chapters 6 & 7
Wednesday
2/24
Chapters 7 & 8
Wednesday
3/2
Exam Two (chapters 5-8), Chapter 9
Wednesday
3/9
Chapters 9 & 10
Wednesday
3/16
Chapters 10 & 13
Wednesday
3/23
Spring Break
Wednesday
3/30
Exam Three (chapters 9, 10, 13)
Friday
4/1
Last day to drop courses or resign with grade of W
Wednesday
4/6
Chapter 15
Wednesday
4/13
Chapters 15 & 17
Wednesday
4/20
Chapter 17
Wednesday
4/27
Chapters 17 & 24
Wednesday
5/4
Exam Four (chapters 15, 17, 24)
* Expected coverage and exam dates are estimates that are subject to change

Chapt
er

Course Outline and Assignments**

1
2
3

Topic (in expected order of coverage)

The Demand for Audit and Other Assurance
Services
The CPA Profession
Audit Reports

4
5
6

Professional Ethics
Legal Liability
Audit Responsibilities and Objectives

7
8

Audit Evidence
Audit Planning and Analytical Procedures

Assignment
3,7,8,12,14,15,21
1,3,4,7,8,15,16,17,18,22
2,7,13,14,15,17,19,23,24,25,30
4,7,11,18,19,21 (omit h),22 (omit
b),24,25
3,5,6,12,13,16,17,18,21,25,26
3,4,6,8,11,14,19,20,21,22,26(a),27
2,3,6,8,9,16,18,21,22,25,26,27,28,
34
3,4,5,11,16,20,21,24,25,26,27,34
2,3,7,11,12,14,15,20,22,23,24,25,2
6,30,32

Materiality and Risk

Internal Control, Control Risk, and Section 404
10
Audits
1,6,7,12,13,17,21,24,30,31,32,42
13
Overall Audit Strategy and Audit Program
1,4,9,15,18,21,22,23,24,31,34
15
Audit Sampling for Tests of Controls
1,2,5,8,11,16,22,23,24,28,29
Audit Sampling for Tests of Details of
17
Balances
2,5,6,10,17,24,28,29,32
24
Completing the Audit
8,9,10,13,18,19,21,22,23,28,31
** Assignments may be changed at the discretion of the instructor.

COURSE EVALUATION
The School of Business requires all students to complete the course evaluation (found on myLSUS) for
each class. The anonymous survey is made available near the end of the class. We appreciate your
assistance and thank you for your cooperation in completing these surveys.
IMPORTANT DATES
For important dates relevant to the class, please see the LSUS Enrollment Guide for the current term,
which is available at:
http://www.lsus.edu/offices-and-services/records-and-registration/enrollment-guide
DISABILITY SERVICES
LSUS is committed to making students with disabilities full participants in its programs, services, and
activities. University policy calls for reasonable accommodations to be made for students with disabilities
on an individual and flexible basis. However, it is the responsibility of the students to make their needs
known. If you have a documented disability that impacts your academic work and for which you require
accommodations, please see me or the Coordinator of Services to Students with Disabilities (ADM 220,
Phone 797-5365) so that such accommodations may be arranged.
STUDENT CONDUCT
LSUS has the responsibility to protect its educational purposes and the health and safety of the university
community through the setting of standards of scholarship and conduct for its students. Students are
responsible for knowing and complying with the provisions of the LSUS Code of Student Conduct,
particularly those pertaining to plagiarism and academic dishonesty. (Refer to the LSUS Student
Handbook.)
All instances of academic misconduct (e.g. cheating, plagiarism) must be reported to the Office of Student
Affairs. If a student is found guilty of academic misconduct, he or she could face loss of credit for the
work and/or the course involved, probation, and/or separation from the university as determined by the
Student Conduct Board. See the current Student Handbook for the complete Student Code of Conduct.
All students at LSUS are required to have a copy of Understanding Plagiarism, the university guide to
defining, understanding, and avoiding plagiarism. This booklet is available at the LSUS Bookstore.
ELECTRONIC DEVICES
Student use of electronic devices that are not part of a courses instructional activities disrupt the learning
environment and must be turned off during class time. These prohibited devices include, but are not
limited to, cell phones, pagers, wireless e-mail receivers, music players, and laptop computers. All cell
phone use, including text messaging, is prohibited during class. Any exception to this policy must be
approved by the instructor in advance.