SUPPLEMENT TO SYLLABUS

AC523F-Audit Procedures & Statutory Auditors

3 ECTS Credits. 40 HOURS
FALL 2023

Professor: Pr. Ismail EL KOUNDI

E-Mail : ismail.elkoundi@uir.ac.ma
Phone: 0652653161
Office Hours: by appointment

GRADING CRITERIA

Continuous assessment (Contrôle continu) 50 %

Mid-term 30%
Quizzes 20%

Final exam 50 %
Total 100 %

General Presentation:

This course aims to introduce the general audit framework and approach. It zero in on the practical
aspects of statutory audit interventions, particularly audit programs and auditor diligences.

The full assimilation of the course implies prior deep exposure to accountancy and preferably to
corporate law too.

At the end of this course, the student should:

- Have a global awareness of the audit approach.
- Distinguish between different audit strategies and their impacts in terms of scope and
substantive procedures.
- Gain practical insights into substantive procedures of the following significant accounts or
class of transactions:
 Investment/Assets
 Payroll
 Cash & cash equivalent
 Equity
 Cost of goods sold

Throughout this course, students will be invited to prepare and answer questions of multiple case
studies. To do so, we invite them to follow the process described hereinafter:

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- Thoroughly read the case study ;
- Identify the key elements ;
- Identify to what step of audit approach the issue pertains ;
- Address the issue and demonstrate the relevance of your reasoning ;
- Enrich your answer with aspects studied in other subjects (accounting, corporate law,
commercial law, etc.)

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 TENTATIVE COURSE OUTLINE*

Sessio
Topic Requirements
n

- Review Course
- Introduction
outline
1 - Syllabus Presentation
- Introduction to audit
- General Framework of accounting & financial audit
fundamentals
- Review Course
- The overall key steps of an audit – Understand the business, including
outline
2 controls at the entity level (prise de connaissance globale de
- Introduction to audit
l’entreprise et de son environnement)
fundamentals
- Introduction to audit
- The overall key steps of an audit – Internal audit assessment
3 fundamentals
(évaluation du contrôle interne)
- Mini quizzes
- Introduction to audit
- The overall key steps of an audit – Substantive procedures (contrôle
4 fundamentals
des comptes)
- Mini quizzes
- Introduction to audit
5 - Review of audit assertions and substantive audit techniques fundamentals
- Mini quizzes
- Introduction to audit
6 - The overall key steps of an audit – Audit conclusion and reporting fundamentals
- Mini quizzes
7 - Mid term exam
- Determine Planning Materiality (PM), Tolerable Error (TE) and
8 Summary of Audit Differences (SAD) (détermination des seuils de - Case analysis
signification, de planification et de remontée)
- Work Program and substantive procedures for Assets accounts
9 - Case analysis
(Programme de travail de la section “immobilisations”)
- Work Program and substantive procedures for Payroll accounts - Case analysis
10
(Programme de travail de la section “charges du personnel »)
- Work Program and substantive procedures Cash & Cash equivalent - Case analysis
11 and Equity accounts (Programmes de travail des sections
immobilisations, trésorerie et capitaux propres)
- Work Program and substantive procedures for COGS (Programme de - Case analysis
12
travail de la section achat revendu de marchandises)
13 - Final Exam - Final exam
*The course outline may be adjusted if deemed necessary by the professor.

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POLICY ON STUDENTS WITH DISABILITIES

If you have a disability, which will make it difficult for you to carry out the work outlined, or which
will require any sorts of accommodations on my part, please notify the Director of programs (with
justifying documents) as soon as possible. Also, feel free to come and discuss this with me during my
office hours or anytime that is convenient for you.

COMMUNICATION PROFESSOR-STUDENT

The official email address of each student is their UIR address. Therefore, all communications from
the professor will go to that address. Please check your UIR inbox regularly. If you have another
email address that you check more frequently, you can forward your UIR email to receive it to that
address. Remember that it is your responsibility to check your UIR email on a regular basis.

CLASS POLICIES AND HONOR CODE

- As a courtesy to both your professor and your fellow students, all cellular phones, electronic
games, radios, or other devices that generate sound must be turned off during class.

- Please avoid any disruptive behaviors such as: coming late to class, leaving early, intoxication,
inconsiderate behavior (e.g., sleeping, reading for pleasure, working on outside assignments,
excessive talking, eating/drinking.) A warning may be given for the first offense; repeated
violators will be penalized and may face expulsion from the class and/or other disciplinary
proceedings. Please be considerate of your fellow classmates and your professor.

- RBS is committed to a policy of honesty in academics. Conduct compromising this policy may
result in academic and/or disciplinary action. Cheating is a violation of student academic behavior
standards. RBS Honor Code is found on the student guide and applies to all activities and
assignments in this course. Students must refrain from cheating, lying, plagiarizing, and stealing.
This includes completing your own original work and giving credit to any other person whose
ideas and printed materials (including those on the Internet) are paraphrased or directly quoted.
Any student who violates, or helps another student violate academic behavior standards will be
penalized according to the student guide rules.

PLAGIARISM AND REFERENCING:

Students submitting any type of assignment need to clearly state the ownership of the reference and
where it can be found. All results, conclusions, opinions, borrowed or taken from another author’s
work must be cited in the text and referenced, whether the work is directly quoted, paraphrased or
summarized.

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