by Callaway Dee, Durtschi, Mindak
| ISBN: 978-1-61853-323-4 | Copyright 2020
This casebook is a resource to use in the development of students’ comprehension of critical auditing concepts, providing faculty with a flexible interactive method to familiarize students with audit procedures, data analytics, and workpapers as applied in practice. Acting as a senior audit manager for a fictitious CPA firm, Garcia and Foster, students will examine and evaluate the audit evidence and documentation for the firm’s annual audit of Alpine Cupcakes, Inc. Garcia and Foster is a fictitious regional firm with 20 offices located in large cities throughout the western United States. As part of its quality control procedures, the firm chooses five offices each year and conducts an internal inspection of a completed audit engagement.
This resource is suitable for both graduate and undergraduate students and can be used as a supplement to any auditing textbook.
Students will review rather than create workpapers from scratch.
Students identify weaknesses in the client’s internal controls that the
auditors failed to find, evaluate auditors’ tests of internal controls and
substantive testing procedures, and assess the quality and completeness of the
auditors’ workpaper documentation.
Students will visualize how audit workpapers are linked to the audit
program, and learn how source documents are integrated into audit tasks.
Students practice critical thinking skills as they consider the purpose of
audit procedures and the issues that arise when trying to implement those
procedures in a realistic setting.
Students will research, critically evaluate and apply auditing
standards to a realistic business scenario.
Each module can be used independently or in combination, to simulate a
real audit experience. The level of difficulty and time required for each
module can be easily adapted to meet the needs of the course.
Each model includes opportunities for students
to: 1) research, cite and summarize relevant auditing standards 2) identify and
describe any errors made by the auditors and 3) prepare a memo documenting
The case study now includes a data analytics component which is comprised
of a General Ledger practice set associated with the entire case study and integrated
data analysis sets that accompany each module (Risk Assessment, Cash, and
Accounts Receivable). Each of these four practice sets includes an Excel file populated
with relevant data and problems requiring students to analyze large sets of
data and document their findings.
Students can access a series of videos that walk through Excel basics
including formatting, expanding your spreadsheet, and formula logic.