ACCT 4243 Assurance Services Online

Syllabus – Spring 2021

Excluding materials for purchase, syllabus information may be subject to change. The most up-to-date
syllabus is located within the course in HuskyCT.

Program Information
ACCT 4243 (Assurance Services) is the first of a two-course series (ACCT 4243 & ACCT 5543) which will,
combined, provide accounting majors with the appropriate skills to help them succeed in the public
accounting profession and help them prepare for the auditing and attestation portion of the CPA exam.

Course and Instructor Information

Course Title: Assurance Services
Credits: 3
Professor: Art Schmeiser
Email: [email protected]
Telephone: 203 247 1448 (mobile)
Office Location: Online
Office Hours/Availability: Tuesdays and Wednesdays 2:00pm-3:00pm or as announced, and by appointment.

Course Materials
Required Materials:
 Auditing & Assurance Services- A Systematic Approach: Messier, Glover, Prawitt; 11th Edition
McGraw-Hill Higher Education.
 Handouts & Notes Packet (to be distributed via HuskyCT).
Recommended/Optional:
Access to the electronic version of The Wall Street Journal is available, at no charge, to everyone in this
class, and I encourage you to subscribe to it. As business professionals, you must be aware of what is
happening in your work environment.

Course Format
Distance Learning Course Format: This course is fully online, and includes both synchronous and
asynchronous learning formats. Having enrolled in this course, you are expected to be available for participation
in synchronous learning sessions during the scheduled class time (see tentative “Course Schedule”).

Course Objectives
At the end of the semester, you should have a better and deeper understanding of the following:
- The role of auditing in a market economy, the auditing environment and related standards.
- Auditor independence, professional conduct and ethical responsibilities.
- Planning audit engagements and determining materiality.
- Risk assessment.
- Evaluation of audit evidence.
- Internal controls and the integrated audit.
- Basics of audit sampling.
- Audit procedures and executing an audit plan.
- Audit reporting and audit opinions.
- Accountants’ legal liability.
Note: This course is not just another requirement to graduate. Rather, given that the vast majority of you will
either become auditors or will deal with auditors, the primary objective of this course is to help you to
succeed after graduation.
 Course Requirements and Grading

Summary of Course Grading:

Course Components Points Weight

Exam 1: Chapters 1-4 and 19 (Thursday 3/11) 150 25%
Exam 2: Chapters 5-8, 18 and 20 (Date established by Registrar) 150 25%
Case Assignments 120 20%
Quizzes (best 6 count, 10 points each) 60 10%
Group Projects (40 points each) 120 20%
Professional Responsibilities Presentation
Analytical Procedures Project
Substantive Testing Project
Total 600 100%

Preparation and Participation: Diligent class preparation, regular attendance, effective participation,
and professionalism are essential and expected. I encourage you to work together (with other students
and me) in the learning process and expect each of you to make a valuable contribution to the class’s
learning experience by thoughtfully reading and analyzing assignments, asking questions, and offering
solutions to problems. This class requires a substantial out-of-class time commitment. Reading the
assigned materials, completing case assignments, and thinking critically about your reading and work
will require much of you. Given that many of you may already have work experience, I expect that there
will be some lively discussions during the semester. Be prepared for class.

Assigned Readings: Primary responsibility for understanding the course material and in-class
discussions rests with you. Therefore, it is expected that you will have read all assigned materials
indicated on the class schedule prior to the class session in which the material will be discussed.

Exams: The exam content will emphasize issues and concepts discussed in class, although material from the
textbook (particularly as it relates to the suggested homework) and other assigned readings is also “fair
game.” Exams will include a mixture of multiple-choice and short-answer questions.

Cases: I have scheduled several individual and group case assignments for this semester. These cases will be
used to illustrate various issues covered during this course. Assignments will be submitted through
HuskyCT. All cases will be graded for completeness, accuracy, depth of analysis, quality of writing (if
applicable), and professional impression.

Group Projects: You will complete three group projects: an analytical procedures project, a substantive
testing project and a professional responsibilities presentation. Both the analytical procedures project and
substantive testing project will be completed outside of class. The professional responsibilities presentation
will involve a 5-7 minute WebEx presentation to the class on your assigned topic. All project materials are
due in HuskyCT by 11:59PM on the Monday indicated in the course schedule.

Pre-reading Quizzes: There will be a total of 7 quizzes given during the semester. They will be short and
objective and come directly from the chapter reading assignment. Each quiz will be worth 10 points. The
best 6 out of 7 quizzes will count towards your final grade. No late/make-up quizzes are accepted.

Homework: Each chapter in the text is followed by several true-false, multiple choice, and other homework
problems that you can complete for practice. The last page of this syllabus lists the suggested homework
problems for each chapter. Homework will not be collected. Hence, homework does not directly count as
part of your course grade. However, completing the homework will indirectly benefit you, as I take the
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assigned homework into account when writing examinations. Homework solutions will be available on
HuskyCT so that you can check your work.

Extra Credit opportunities: Throughout the semester I will give you the opportunity to earn additional
points towards your cumulative grade. If you are not in class or miss the deadline for an extra credit
opportunity, there are no “make-up” opportunities – no exceptions. You can earn up to 12 extra credit
points over the course of the semester, which is equivalent to 2 percentage points on your final grade.

Groups: This course will have significant time devoted to group work in the form of in-class and out-
of-class activities. These group activities are intended for groups to actively engage with each other on
key concepts, to arrive at a solution in a timely fashion, and to help facilitate a class discussion of the
relevant material. Group participation is not optional and failure to attend/participate will result in a
score of zero for the specific group member.

You may find that teamwork is somewhat inefficient at first, so plan according. The importance of the
ability to work efficiently and effectively in groups is one reason that some assignments are made to
groups, not individuals. Working in teams is a skill that employers value highly and it is a skill you will
use throughout your career. One goal of these group projects is for you to start learning to manage
conflicts about schedules, personalities, etc.

Grading Scale:

Grade Letter Grade Grade Letter Grade

93-100 A 73-76 C
90-92 A– 70-72 C–
87-89 B+ 67-69 D+
83-86 B 63-66 D
80-82 B– 60-62 D–
77-79 C+ <60 F

Due Dates and Late Policy

All course due dates are identified in the Course Syllabus. The instructor reserves the right to change dates
accordingly as the semester progresses. All changes will be communicated in an appropriate manner,
usually through announcements on HuskyCT.

My general policy is that medical emergencies, family emergencies, religious holidays, and university-
sponsored conflicts are the only valid reasons for missing an examination or the due date of an assignment.
Absences do not affect the due dates for any assignments. If you expect to miss a class in which an
assignment is scheduled or due, you must deliver the assignment early to me via email to receive credit. All
course due dates are identified on the Course Syllabus and posted on HuskyCT. You must notify me as soon
as you are aware of the conflict and in advance of the examination date or assignment due date.

Feedback and Grades

I will make every effort to provide feedback and grades within two class periods. To keep track of your
performance in the course, refer to My Grades in HuskyCT. If an error was made in grading an
assignment/exam or in posting a grade, you must notify me in writing within one week following the date
that the assignment/exam is handed back or reviewed in class. After that time, all grades become final.

In an effort to make the class successful for all students, please provide me feedback on how the course is
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going and how you feel you are doing in the course. I can make this class more successful if I hear from you
about what you do and do not understand. I welcome your feedback during office hours and via e-mail.

Communication
In 2019, the National Association of Colleges and Employers asked employers what skills they seek in
new college graduates. Eighty-two percent (82%) said strong written communication skills; sixty-seven
percent (67%) said strong oral communication skills; and seventy-nine percent (79%) said ability to work in
a team. Employers value these skills because professionals spend about seventy percent (70%) of their work-
time communicating with other people.

One of the primary objectives of this course is to help you develop communication skills (both written and
oral). We will spend significant amount of our class time engaging in discussions and working in teams to
help facilitate the learning process and building strong communication skills. Formulating good questions,
listening, and observing are the essence of auditing!

At all times, course communication with fellow students and the instructor are to be professional and
courteous. It is expected that you proofread all your written communication, including group assignment
submissions, and email messages.

Recipe for Success

Given the nature of the course, I expect this class to be HIGHLY interactive. Class discussions of the course
material are an important part of the learning process. Therefore, active class participation is expected and
required, whether by asking questions, responding to questions, or contributing in any other meaningful ways
to the class discussion. It does not bother me if I am interrupted with questions, I actually prefer it, so feel
free to ask questions if something is unclear.

PLEASE come to class prepared to discuss the assigned materials for the current chapter. As you can see,
this course focuses on concepts/theory. There is a lot of reading, the concepts are not necessarily intuitive
and, in many circumstances, there may be no absolutely correct answer. As a result, this course will probably
be unlike many of the accounting courses you have taken.

One suggestion is to be methodical-carefully read the material prior to class, which will help you on the quiz.
Second, take good notes in class and don’t be afraid to participate and ask questions. Third, go back after
class and review your notes and then do the selected homework problems.

This is not just a class where you are trying to get a good grade but, rather, is a class where you will be
learning things you will need to know if you are going to be taking the CPA exam and/or will be going to
work for an accounting firm, or in industry, in the next few months.

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Academic Calendar
Please refer to the Registrar’s Academic Calendar at http://registrar.uconn.edu/academic-calendar/
Some important dates to note are the following:
 Monday, February 1, 2021 – Courses dropped after this date will have a “W” for withdrawal
recorded on your academic record. Also, add/drop via the Student Administrative System closes.
 Monday, March 29, 2021 – Last day to withdraw from a course.
 Wednesday, April 28, 2021 – Last day of classes.
Note: Final exam week for Spring 2021 takes place from Monday, May 3rd through Saturday, May 8th,
2021. Students are required to be available for their exam during the stated time. If you have a conflict with
this time, you must visit the Dean of Students Office to discuss the possibility of rescheduling this exam.
Please note that vacations, previously purchased tickets or reservations, social events, misreading the exam
schedule and over-sleeping are not viable excuses for missing a final exam. If you think that your situation
warrants permission to reschedule, please contact the Dean of Students Office with any questions.

Student Responsibilities and Resources

As a member of the University of Connecticut student community, you are held to certain standards and
academic policies. In addition, there are numerous resources available to help you succeed in your academic
work. Review these important standards, policies and resources, which include:
 The Student Code
o Academic Integrity
o Resources on Avoiding Cheating and Plagiarism
 Absences from Final Examination
 Netiquette and Communication
 Class Attendance
 Academic Calendar
 Policy Against Discrimination, Harassment and Inappropriate Romantic Relationships
 Sexual Assault Reporting Policy
Professional conduct is built upon the idea of mutual respect. Such conduct includes:
 Attending the class. Each class benefits from the attendance and participation of all students.
Understanding the pandemic situation, I expect you to attend when you are able, especially since this
course is totally online.
 Arriving on time. Late arrivals are disruptive to the class and show disrespect to those who are on time.
 Minimizing disruptions. Cell phones should be turned off during class. With few exceptions, you
should not leave and re-enter the class. You should avoid engaging in side conversations during class.
 Respect. You should act respectfully toward all class participants.
 Participate and contribute.

Laptop and Cell Phone Usage

Cell phone usage outside coordinated class activities is not allowed during class. All cell phones must be
placed on “silent”. Laptops/tablets are allowed in class for note-taking and online classroom activities. Using
laptops/tablets for entertainment purposes is not allowed.

Student Authentication and Verification

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The University of Connecticut is required to verify the identity of students who participate in online courses
and to establish that students who register in an online course are the same students who participate in and
complete the course activities and assessments and receive academic credit. Verification and authentication
of student identity in this course will be through the following methods:
1. Secure access to the learning management system using your unique UConn NetID and password.
2. Synchronous virtual class, Small group meetings, and Individual student meetings.

Virtual Classroom Guidelines

We will be utilizing the HuskyCT virtual classroom through WebEx for synchronous class sessions and in-
class group activities. Technical requirements: Dedicated access to high-speed internet with a minimum
speed of 1.5 Mbps (4 Mbps or higher is recommended) and a WebCam. Your WebCam is expected to be on
throughout synchronous sessions.
Classes for this semester’s course will be conducted over WebEx through HuskyCT. As the host, I may
record these sessions using WebEx’s recording feature. I will let the class know at the beginning of a session
if I plan to record the session. The recording feature for others in attendance will be disabled so that no one
else will be able to record a session. In order to protect student privacy and intellectual property rights,
students are prohibited from recording any session, or any portion of a session, by other means. At my
discretion and in accordance with University policies and guidelines, I may share one or more the recorded
sessions with the class to provide students with an additional opportunity to review course content. The
sharing of any recorded content without my written permission is prohibited.
Please remember that the unauthorized recording or sharing of course content may be considered a violation
of the law, University policy, and/or The Student Code.

Software/Technical Requirements (with Accessibility and Privacy Information)

The software/technical requirements for this course include:

● HuskyCT/Blackboard (HuskyCT/ Blackboard Accessibility Statement, HuskyCT/ Blackboard

Privacy Policy)
● Adobe Acrobat Reader (Adobe Reader Accessibility Statement, Adobe Reader Privacy Policy)
● Microsoft Office (free to UConn students through uconn.onthehub.com) (Microsoft Accessibility
Statement, Microsoft Privacy Statement)
● Dedicated access to high-speed internet with a minimum speed of 1.5 Mbps (4 Mbps or higher is
recommended).
● WebCam

For information on managing your privacy at the University of Connecticut, visit the University’s Privacy
page.

NOTE: This course has NOT been designed for use with mobile devices.

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 Academic Integrity/Cheating
All forms of academic misconduct are prohibited. “Academic misconduct is dishonest or unethical academic
behavior that includes, but is not limited, to misrepresenting mastery in an academic area (e.g., cheating),
failing to properly credit information, research or ideas to their rightful originators or representing such
information, research or ideas as your own (e.g., plagiarism).”

A student who assists another person in the commission, or attempted commission, of a violation of The
Student Code shall be equally accountable for the violation, and shall be subject to the sanctions and other
remedies described in The Student Code. For details refer to the Student Code at
http://community.uconn.edu/the-student-code-preamble/, the related FAQs at
http://community.uconn.edu/academic-integrity-undergraduate-faq/, and our Department’s Code of Conduct
at http://www.business.uconn.edu/documents/acct/acctg_code_of_conduct.pdf , as you will be held
accountable to those rules.

Cheating of any sort will not be tolerated and may result in a failure of the exam, quiz, or case assignment,
and potential failure of the course. When in doubt, you should always feel free to ask me.

Students with Disabilities

Students needing special accommodations should work with the University's Center for Students with
Disabilities (CSD). You may contact CSD by calling (860) 486-2020 or by emailing [email protected]. If your
request for accommodation is approved, CSD will send an accommodation letter directly to your
instructor(s) so that special arrangements can be made. (Note: Student requests for accommodation must be
filed each semester.)

Blackboard measures and evaluates accessibility using two sets of standards: the WCAG 2.0 standards issued
by the World Wide Web Consortium (W3C) and Section 508 of the Rehabilitation Act issued in the United
States federal government.” (Retrieved March 24, 2013 from Blackboard's website)

Evaluation of the Course

Students will be provided an opportunity to evaluate instruction in this course using the University's standard
procedures, which are administered by the Office of Institutional Research and Effectiveness (OIRE).

Additional informal surveys may also be administered within the course as an optional evaluation tool.

Additional Instructor Policies

1. I take the UCONN Student Code very seriously. Please do not give me a reason to enforce it.
2. If you have attended class regularly, I will spend the time needed to help you understand the material
during office hours. We are currently in a unique situation so I will be considerate of that (and expect
you to do the same) but that should not affect your effort level.
3. I will schedule a meeting with you at a mutually convenient time if you have another class during my
scheduled office hours.
4. I will respond to your e-mails within a reasonable time frame. However, I do not respond to email
regularly on weekends.

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 COURSE SCHEDULE

IMPORTANT: Please complete each day’s assigned reading before class. The readings provide necessary
background for understanding classroom discussion. The list below is subject to change. If it changes, I will
notify you and post a new schedule to HuskyCT.

CLASS/
DATE TOPIC READING SUGGESTED HOMEWORK

1 Tue 1/19 Introduction and Expectations This

syllabus!

2 Thu 1/21 Introduction to Assurance & F/S Auditing Ch. 1 3, 5, 7, 8, 10, 13, 15-19, 21 & 23.
QUIZ 1

3 Tue 1/26 Introduction to Assurance & F/S Auditing

4 Thu 1/28 Independence p.641-652 2, 3, 7, 9, 16-19, 23 & 25.

QUIZ 2

5 Tue 2/2 The Auditing Environment Ch. 2 5, 9, 10, 12, 13, 14, 15, 18, 19,
20, 22 & 23.

6 Thu 2/4 The Auditing Environment

CASE 1 in-class

Mon 2/8 Professional Responsibilities Handout & Exam Questions DUE by 11:59PM

7 Tue 2/9 Professional Responsibilities Presentations

8 Thu 2/11 Professional Responsibilities Presentations

9 Tue 2/16 Audit Planning Ch. 3 1, 2, 4, 5, 8, 10, 12, 15, 19 & 23.
QUIZ 3

10 Thu 2/18 Audit Planning

11 Tue 2/23 Materiality

12 Thu 2/25 Risk Assessment Ch. 4 1, 2, 5, 6, 8, 9, 14, 15, 16, 17, 19,
QUIZ 4 20, 21, 22 & 23.

13 Tue 3/2 Risk Assessment

CASE 2 due

14 Thu 3/4 Fraud

CASE 3 in-class

15 Tue 3/9 EXAM REVIEW

16 THURSDAY 3/11 EXAM 1 (Chapters 1-4 & 19)

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CLASS/
DATE TOPIC READING SUGGESTED HOMEWORK

17 Tue 3/16 Data Analytics in Auditing Appendix B

18 Thu 3/18 Evidence & Documentation Ch. 5 5, 7, 10, 12, 13, 15, 19, 21, 22,
QUIZ 5 23, 24, 28 & 29.

19 Tue 3/23 Evidence & Documentation

CASE 4 due

20 Thu 3/25 Internal Controls Ch. 6 2, 5, 10, 11, 12-22 & 24.
QUIZ 6

Mon 3/29 Analytical Procedures Project DUE by 11:59PM

21 Tue 3/30 Auditing Internal Controls Ch. 7 1, 2, 6, 8, 9, 12, 14, 17, 22, 23,
25 & 30.

22 Thu 4/1 Auditing Internal Controls

CASE 5 due

23 Tue 4/6 Audit Procedures

24 Thu 4/8 Sampling Ch. 8 1, 2, 4, 7, 12, & 14

CASE 6 in-class p. 298-317

APRIL 12-16 SPRING BREAK

25 Tue 4/20 Audit Reports Ch. 18 4, 6, 8, 9, 10, 15 &19

26 Thu 4/22 Legal Liability Ch. 20 2, 6, 7, 9, 15, 17, 18 & 24.

QUIZ 7

Mon 4/27 Substantive Testing Project DUE by 11:59PM

27 Tue 4/27 EXAM REVIEW / Snow Day

CASE 7 due

FINAL EXAM (Chapters 5-8, 18 & 20) - DATE & TIME ESTABLISHED BY REGISTRAR