IAF610 - Computerized Auditing

Outline info
Semester
School
Last revision date 2017-06-22 12:45:30.692
Last review date 2017-06-22 12:45:30.693


Subject Title
Computerized Auditing

Subject Description
This subject expands upon the principles studied in Auditing. The course covers the audit of computer based information systems. Students will study a variety of topics including: computer controls, electronic commerce systems, enterprise systems, computer assisted audit tools and techniques, auditing the revenue and expenditure cycles, and the application of ACL audit software. Pre-requisite: IAF520

Credit Status
One credit towards the Bachelor of Commerce - International Accounting and Finance degree programs

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1.Examine the nature of the financial statement audit process and the role of the information systems auditor.
2.Describe the types of controls, risk assessment and audit of controls (manual and automated).
3.Assess and evaluate the impact of general, access, application controls and the control environment on the audit.
4.Examine and evaluate the impact of systems development controls on the audit.
5.Design tests of controls and CAAT's
6.Critique and understand the impact of e-Business, outsourcing, computer fraud and computer crime.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Prerequisite(s)
IAF510

Topic Outline

TOPICS
Audit Process and (Information Technology) IT Auditors
Types of controls and Audit of controls (manual and automated)
Audit of General Computer Controls and Applications Controls, Segregation of duties in Significant Accounting Applications
Audit of General Computer Controls and Application Controls, Segregation of Duties in Significant Accounting Applications
Controlling and auditing the systems development or systems acquisition process; Systems maintenance and change management, End-user computing
IT Compliance with Sarbanes-Oxley (Canadian Equivalent CSA Multilateral Instrument 52-109), Outsourcing - Service centre audits
Identity theft; Privacy, Information systems security
Business continuity planning; Computer-Assisted Audit Testing (CAATs), Forensic computer auditing. Computer Lab: ACL
Application controls in the sales cycle and in customer relationship management; Conducting tests of controls and substantive tests of the sales
and accounts receivable systems using CAATs , Continuous Auditing
Effects of e-Business and the internet on controls and auditing; Audit of cash receipts and cash balances in an e-Commerce environment.
Audit of enterprise resource planning (ERP) systems; Audit of purchases, payables, payments in an ERP environment
Audit of wireless systems; Small business IT controls

Mode of Instruction
In-Class

A combination of teaching methods will be utilized which may include lectures, case studies, discussions, group and individual work.

Prescribed Texts
Title: Information Technology Control and Audit
Edition: 4th
Authors: Senft, Gallegos, Davis
ISBN: 9781439893203
Publisher: Pearson Ed


Articles published by CICA, CGA Canada and ACCA

IT Control (referred to as “IT Control” in the readings list) Objectives for Sarbanes-Oxley (ITControl), IT Governance Institute, 2006

- C.I.C.A. Handbook (HBK), Canadian Institute of Chartered Accountants, most recent edition of Assurance sections (This is available online to all Seneca students through the Seneca library)

- C.I.C.A. Exposure Drafts listed in the reading list and on the CICA web site. See www.cica.ca, follow the following links: Standards - Auditing and Assurance Standards - Documents for comment. (You will be responsible for exposure drafts that are on the CICA web site that pertain to this course’s subject area as of the date of our course. Our reading list will be updated during the term.)

Reference Material
Auditing: An International Approach, 5th Edition, Wally Smielaiuskas and Kathyrn Bewley ISBN # 0-07-0919917 (IAF 520 textbook)

Principles of Information Systems, 1st Canadian Edition, Stair/ Reynolds/Aldcorn,  Nelson .  ISBN # 978-0-17-650394-9  (IAF540 textbook)

Seneca Libraries. Guide to Research and Citation: MLA Style. Latest Edition. Toronto: Seneca College

Required Supplies
NONE

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
OR
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.


Modes of Evaluation

Mid-Term Test 30%
Assignments 30%
Final Examination 40%
Total 100%


20% of the marks will be allocated to English communication (written comprehension & synthesis)  

For degree programs, the minimum requirement for promotion and graduation is an average of c+ (2.5) in subjects in the main field of study (professional subjects), and an average of C (2.0) in all other subjects. 


Late Assignments and Tests


Tests


1. Test and exam dates have been pre-arranged and are non-negotiable.
2. Tests or exams missed for any reason, other than illness, will result in a zero grade. In the case of illness, a validated doctor’s certificate must be presented within one week of returning to the college.   In this case the percentage of the test will be added to the final exam.
3. On any test or exam, up to 10 % of the marks on that test or exam may be deducted for poorly presented work, misspelled words and poor usage of  language.  


Late Assignments

All assignments are due at the beginning of class on the date for submission.  Any extensions must be negotiated in advance.  Assignments are considered one day late at the conclusion of the class date submission day and 10% will be deducted for every day thereafter until  the late mark accumulated total reaches 20 at which time it will be listed as non-submitted and receive a zero grade.


English Competencies

All written work on tests and assignments must display the following characteristics of clarity and conciseness:
  • Be technically correct, i.e. correct grammar, spelling and punctuation
  • Use appropriate vocabulary
  • Display no sentence errors, i.e. fragments and run-ons
  • Make a clear main point
  • Support the main point with specific, relevant examples and reasons
  • Be organized in a clear fashion (e.g. headlines, transitional devices, paragraphs, enumerations)
  • Be set out in the appropriate format (e.g. report, essay)
  • Presentation/layout must be professional

Program Coordinator
Cynthia Duncan

Approved by: Academic Program Manager - Business Studies Danielle Mercier