MONTCLAIR STATE UNIVERSITY
DEPARTMENT OF ACCOUNTING and FINANCE
AUDITING THEORY & PRACTICE
ACCT400 SPRING 2022 COURSE SYLLABUS
Professor: Gary Kleinman, MBA, Ph.D.
Office: Feliciano SBUS 361
Office Hours: TBA
Additional hours by arrangement.
Phone: (973) 655-5442 PLEASE, HOWEVER, EMAIL ME AND DO NOT CALL!!!
Email: kleinmang@[Link]
Aims of the course:
1 To understand the role and responsibilities of the CPA in today’s business environment as well as the
impact of litigation and government policy on the accounting profession.
2 To make students aware of the various types of services and products that are rendered by the CPA firm
and the responsibilities assumed with those services.
3 To introduce and develop the required services and proficiencies for the understanding and/or
performance of an audit, a review or a compilation.
Course Learning Goals:
CLG 1. Students will be able to understand the role and function of the CPA in today’s environment.
CLG 2. Students will become familiar with the auditor’s responsibilities to the client and how the professional code
of ethics defines these responsibilities.
CLG 3. Students will become aware of the various auditing standards and the impact on the role of the CPA in
today’s business environment.
CLG 4. The course will enable students to develop a proficiency in understanding and applying the AICPA’S ASB’S
Statements on Auditing Standards and other standards (PCAOB) that are appropriate.
CLG 5. Student will be able to perform/evaluate an audit engagement in accordance with professional guidelines and
business acumen.
CLG 6. Students will be able to understand and differentiate the requirements of other engagements such as tax
preparations, compilations and reviews, attest functions, etc.
CLG 7. The course will enable students to develop critical thinking skills and learn to exercise good judgment by
adapting theoretical learning to applied problem solving via the use of assignments and other current events as
they appear in business journals, periodicals and newspapers.
CLG 8. Students will be able to improve their communication skills (oral and written) through written reports, oral
presentations and group work.
Text: Principles of Auditing & Other Assurance Services 21th Edition (Loose pages). Whittington & Pany,
McGrawHill
ISBN: 9781260299397
(SEE BOOKSTORE TO MAKE SURE YOU HAVE PROPER EDITION, WHICH MUST INCLUDE
CONNECTPLUS).
Lakeside Company: Case Studies in Auditing. Pearson. ISBN10:013256832; EDITION 12.
All Whittington-based homework is to be completed via [Link]. The specific
Whittington textbook assignments can be seen on [Link]. Please register for this
section by entering our Canvas course, clicking on McGraw-Hill Connect ON THE LEFT-HAND SIDE
OF THE SCREEN and follow instructions.
Alphabetic grades are calculated using the numeric grading scale given in the Undergraduate Catalog.
Grading: The course grade will be determined on the basis of your performance on three examinations (two
midterms and the final), classroom activities, and completion of cases, and homework assignments. No makeup
exams will be given. If you miss either or both of the two midterms, I will substitute the final exam grade for the
missed midterm(s). I very strongly suggest, however, that you take all the midterms.
Course grade will be determined in the following way:
Examinations (2 midterms totaling 30%) and final (35%) 65%
Class Participation including attendance and Lakeside Class Participation 10%
Homework Assignments on [Link] 15%
AuditAnalytics Assignment 10%
100%
Course Schedule—Subject to Change at the Sole Discretion of the Instructor
WEEK CHAPTER TITLE ASSIGNMENTS
Week 1 1 The Role of the Public Accountant in the American Economy SEE CONNECT
Week 2 2 Professional Standards SEE CONNECT
3 Professional Ethics SEE CONNECT
Week 3 4 Legal Liability of CPAs SEE CONNECT
Lakeside Case 1:
Discussion Questions
1-5; Exercises 1, 2
Lakeside Case 2:
Case 2: Discussion
Questions 1, 4, 6, 7, 8;
Exercises: 1, 2, 3, and
4. AND The Impact
of SOX: 1
Week 4 Midterm Exam #1
Week 4 &5 5 Audit Evidence & Documentation SEE CONNECT
Lakeside Case 3:
Discussion Questions
2,3, 5, 8, 9;
Exercise 1(a,b,c), 2.
Week 6 6 Audit Planning, Understanding the Client, SEE CONNECT
Assessing Risks, and Responding Lakeside Cases 5:
Discussion
Questions: 1, 2, 3, 4.
Exercises: 2 and 3.
Week 7 7 Internal Control Lakeside Case 5:TBA
SEE CONNECT
Week 8 Midterm Exam #2
Week 9 11 Accounts receivable, notes receivable and revenues (begin Ch. 11, Slide 17 on 4/14).
SEE CONNECT
Lakeside 9:TBA
Week 10 16 Auditing Operations & Completing the Audit SEE CONNECT
Week 11 17 Audit Reports SEE CONNECT
Final Week Final Exam
ALL REQUIREMENTS ARE SUBJECT TO CHANGE AT THE SOLE DISCRETION OF THE
INSTRUCTOR
Academic Honesty and Integrity
Dear Students –
Before we begin the semester, I wanted to let you know that the Feliciano School of
Business will require every student in each of their classes to sign an Academic Integrity
Pledge.
Academic integrity is the commitment to and demonstration of honest and moral
behavior in an academic setting.
Academic integrity is important in your classes, because integrity is important in all areas
of your life.
If students don’t have integrity in their classes, if they find it possible to justify
plagiarism or cheating, how will they resist doing the same in their careers and personal
lives once they graduate from college?
Personal integrity is a quality of character that needs to be nurtured and practiced. We
can be persons of integrity only if we practice it every day, so let’s begin that daily
practice in our Business classes this semester!
Sincerely,
Dr. Kleinman
