Post on 22-May-2020
transcript
Sistema Universitario Ana G. Méndez
School for Professional Studies
Florida Campuses
Universidad del Este, Universidad Metropolitana, Universidad del Turabo
ACCO 710
ADVANCED AUDITING lI
AUDITORIA AVANZADA lI
© Sistema Universitario Ana G. Méndez, 2010
Derechos Reservados.
© Ana G. Méndez University System, 2010. All rights reserved.
ACCO 710 Advanced Auditing lI 2
Prep. 05/02/2008 David Martinez.MBA. Rev.5/03/2010. Manuel A. Christiansen, MBA
TABLA DE CONTENIDO/TABLE OF CONTENTS
Páginas/Pages
PRONTUARIO ......................................................................................................................... 3
STUDY GUIDE ...................................................................................................................... 15
WORKSHOP ONE ................................................................................................................. 28
TALLER DOS ........................................................................................................................ 32
WORKSHOP THREE ............................................................................................................ 36
TALLER CUATRO ................................................................................................................ 39
WORKSHOP FIVE/TALLER CINCO .................................................................................. 43
ANEJO A/APPENDIX A ....................................................................................................... 48
ANEJO B/APPENDIX B ........................................................................................................ 50
ANEJO C/APPENDIX C ........................................................................................................ 52
ANEJO D/APPENDIX D ....................................................................................................... 55
ANEJO E/APPENDIX E ........................................................................................................ 57
ANEJO F/APPENDIX F......................................................................................................... 59
ANEJO G/APPENDIX G ....................................................................................................... 61
ANEJO H/ APPENDIX H ...................................................................................................... 64
ANEJO I/APPENDIX I .......................................................................................................... 67
ANEJO J/APPENDIX J .......................................................................................................... 68
ANEJO K/APPENDIX K ....................................................................................................... 69
ANEJO L/APPENDIX L ........................................................................................................ 71
ANEJO M/APPENDIX M ...................................................................................................... 72
ANEJO N/APPENDIX N ....................................................................................................... 75
ANEJO O/APPENDIX O ....................................................................................................... 76
ANEJO P/APPENDIX P......................................................................................................... 77
ANEJO Q/APPENDIX Q ....................................................................................................... 78
ACCO 710 Advanced Auditing lI 3
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Prontuario
Título del Curso: Auditoria Avanzada II
Codificación: ACCO 710
Duración: Cinco Semanas
Pre-requisito: ACCO 706
Descripción
Este curso estudiará los procesos de auditoría y servicios de calidad de información para
toma de decisiones, incluyendo ética, responsabilidades y objetivos de la profesión de
auditoría. Proveerá un entendimiento del proceso de toma de decisión en auditoria en el
ambiente complejo de auditoría de hoy día. Incluirá la aplicación de los estándares de
auditoria generalmente aceptados (GAAS), información de los nuevos estándares de
auditoría, cobertura de la Junta de Supervisión de Companias Publicas de Contabilidad
(PCAOB), los estándares de evaluación de riesgo y los requerimientos de la Ley Federal
Sarbanes—Oxley (SOX). También ofrecerá la oportunidad de la toma de decisiones en el
proceso de auditoría del mundo real utilizando ejemplos ilustrativos de toma de decisiones de
auditoría con énfasis en planificación de auditorías, procesos de evaluación de riesgo y
búsqueda y evaluación de evidencia en respuesta a riesgos.
Objetivos Generales
Al finalizar el curso, el/la estudiante estará capacitado para:
1. Explicar el proceso de auditoría desde el comienzo hasta su culminación.
2. Clasificar los diferentes tipos de auditorías.
3. Distinguir los elementos y características de cada tipo de auditoría.
ACCO 710 Advanced Auditing lI 4
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4. Identificar la cobertura del Public Companies Accounting Oversight Board (PCAOB), los
requerimientos de la Ley Federal Sarbanes—Oxley (SOX), y los nuevos estándares de
auditoría.
5. Describir la planificación de una auditoria y los procesos de evaluación de riesgo de
información.
Texto y Recursos
Arens, A. A., Elder, R.J., & Beasley, M.S. (2009). Auditing and Assurance Services: An
Integrated Approach. (13th ed.). New York, NY: Prentice Hall. ISBN: 0136084737
Delaney, P. R.,. Pany, K., &. Smith, S. (2000). Wiley CPA Examination Review: Auditing.
New York, NY: John Wiley & Sons, Inc. (e-book)
Referencias y Material Suplementario
Boynton, W.C., & Johnson, R.N. (2006). Modern Auditing: Assurance Services and the
Integrity of Financial Reporting. (8th ed.). Hoboken, NJ: John Wiley & Sons, Inc.
Guy, D.M. & Carmichael, D.R. (2000). Wiley's Student GAAS Guide. (2000-2001 ed.).
Hoboken, NJ: John Wiley & Sons, Inc.
Hopwood, W.S., Leiner, J.J., & Young, G.R. (2008), Forensic Accounting. (1th ed.). New
York, NY: McGraw-Hill/Irwin.
Louwers, T.J., Ramsay, R.J., Sinason, D.M., Strawser, J.R. & Thibodeau, J.C. (2011). MP
Auditing and Assurance Services w/ACL Software. (4th ed.). New York, NY:
McGraw-Hill/Irwin.
Porter, B., Hatherly, D. & Simon, J. (2008). Principles of External Auditing. (3rd ed.).
Hoboken, NJ: John Wiley & Sons, Inc.
Thibodeau, J.C. & Freier, D. (2009). Auditing After Sarbanes-Oxley. (2nd ed.). New York,
NY: McGraw-Hill/Irwin.
ACCO 710 Advanced Auditing lI 5
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Evaluación
Criterios de evaluación Puntos
Asistencia y participación 50
Portafolio 50
Debate 50
Discusión sobre direcciones electrónicas en clase 50
Diario reflexivo 50
Examen Mitad Curso 100
Proyecto Final 150
Ejercicios en clase 100
TOTAL 600
Descripción de la evaluación
• Asistencia y participación en clase (Talleres 1-5)
o La asistencia y participación en todas las clases es obligatoria y tendrá una
puntuación de 10 puntos por cada taller. Además, por cada día se sumará la
puntuación correspondiente a los siguientes criterios:
� Demostrar dominio de los temas discutidos en clase.
� Cumplir con las tareas asignadas en la clase.
� Participar y cumplir con el trabajo colaborativo.
� Demostrar destrezas de comunicación verbal adecuadas.
� Puntualidad en la entrega de los trabajos.
� Se evaluará utilizando el Anejo A.
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Las ausencias afectarán su nota final (2 puntos por asistencia y 8 puntos por participación en
cada taller). El estudiante que se ausente al taller deberá presentar una excusa razonable al
facilitador. El facilitador evaluará si la ausencia es justificada y decidirá como el estudiante
repondrá el trabajo perdido, de ser necesario. El facilitador decidirá uno de los siguientes:
permitirle al estudiante reponer el trabajo o asignarle trabajo adicional en adición al trabajo a
ser repuesto.
Toda tarea a ser completada antes del taller deberá ser entregada en la fecha asignada. El
facilitador ajustará la nota de las tareas propuestas. Si un estudiante se ausenta a más de un
taller el facilitador tendrá las siguientes opciones:
a. Si es a dos talleres, el facilitador reducirá una nota por debajo basado en la nota existente.
b. Si el estudiante se ausenta a tres talleres, el facilitador reducirá la nota a dos por debajo de
la nota existente.
• Laboratorio de Ididomas (Talleres 1-5)
En adición a la asistencia mandataria al salón de clase y participación durante la misma, el
estudiante deberá cumplir veinte (20) horas de ejercicio en el laboratorio de idiomas. A
través de los cinco talleres el estudiante deberá recopilar evidencia de su trabajo para ser
entregada al facilitador en el quinto taller. El facilitador determinara la distribución de horas
entre ambos idiomas – inglés y español – de acuerdo a las necesidades individuales de cada
estudiante. El estudiante deberá completar sus horas físicamente en el laboratorio de idiomas
– en cada centro – o desde su casa/trabajo a través del programa “Tell Me More”.
• Portafolio (Talleres 1, 3, and 5)
o Todas las asignaciones escritas, juntas con la selección del trabajo hecho durante
el curso, deberán ser colocadas en un portafolio y seguir estrictamente las
especificaciones de su elaboración ubicadas en los Anejos H-P.
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o El portafolio se presentará dos veces durante este curso: La primera evaluación en
el taller 3 y la evaluación final en el taller cinco.
o El portafolio se evaluará usando el Anejo M.
• Debate (Taller 2 y 4)
o Cada grupo traerá a la discusión contenido relevante al tema asignado o escogido
y utilizará todos los recursos que le ayuden a su presentación del tema a discutir
(por ejemplo: ayudas visuales, libros, afiches, etc.).
o Cada grupo podrá usar sus notas o leer pasajes cortos de lo que dicen los
investigadores sobre su tema asignado.
o Esta actividad se evaluará usando el Anejo G.
• Examen Mitad Curso (Taller 4)
o Este examen es para hacerlo en la casa.
o Se distribuirá en el taller tres.
o Será entregado al comienzo del taller cuatro.
o La actividad se evaluará a base de una escala de 100 puntos.
• Final Project (Workshop 5)
o Este es un trabajo de grupo. Los detalles están especificados en el Anejo Q.
o Los detalles serán explicados y discutidos en el taller uno.
o Será entregado al comienzo del taller cinco.
o La actividad se evaluará a base de una escala de 150 puntos.
o Esta actividad se evaluará usando el Anejos B y C.
• Discusión sobre las Direcciones Electrónicas (URL) (Talleres 1- 5)
o Los estudiantes se prepararán para discutir en grupo las direcciones electrónicas
asignadas para en taller.
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o La discusión se evaluará usando el Anejo D.
• Diario Reflexivo (Talleres 1, 3, and 5)
o Los estudiantes expresarán sus ideas en las materias aprendidas en el taller, cómo
éstas le ayudarán y el uso de éstas en su vida.
o El escrito será evaluado usando el Anejo E.
• Auto-evaluación (Talleres 2, 4 y 5)
o Los estudiantes prepararán una evaluación considerando los aspectos generales,
vocabulario, estructura y organización.
o El escrito será evaluado usando el Anejo F.
• Ejercicios (Talleres 1 – 5)
o El estudiante preparará los ejercicios asignados en el taller.
Curva de evaluación
100-90% A 89-80% B 79-70% C 69-60% D 59-00% F
Descripción de las Normas del Curso
1. Este curso sigue el modelo “Discipline-Based Dual Language Immersion Model®”
del Sistema Universitario Ana G. Méndez, el mismo está diseñado para promover el
desarrollo de cada estudiante como un profesional bilingüe. Cada taller será
facilitado en inglés y español, utilizando el modelo 50/50. Esto significa que cada
taller deberá ser conducido enteramente en el lenguaje especificado. Los lenguajes
serán alternados en cada taller para asegurar que el curso se ofrece 50% en inglés y
50% en español. Para mantener un balance, el módulo debe especificar que se
utilizarán ambos idiomas en el quinto taller, dividiendo el tiempo y las actividades
equitativamente entre ambos idiomas. Si un estudiante tiene dificultad en hacer una
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pregunta en el idioma especificado, bien puede escoger el idioma de preferencia para
hacer la pregunta. Sin embargo, el facilitador deberá contestar la misma en el idioma
designado para ese taller. Esto deberá ser una excepción a las reglas pues es
importante que los estudiantes utilicen el idioma designado. Esto no aplica a los
cursos de lenguaje que deben ser desarrollados en el idioma propio todo en inglés o
todo en español según aplique.
2. El curso es conducido en formato acelerado, eso requiere que los estudiantes se
preparen antes de cada taller de acuerdo al módulo. Cada taller requiere un promedio
de diez (10) horas de preparación y en ocasiones requiere más.
3. La asistencia a todos los talleres es obligatoria. El estudiante que se ausente al taller
deberá presentar una excusa razonable al facilitador. El facilitador evaluará si la
ausencia es justificada y decidirá como el estudiante repondrá el trabajo perdido, de
ser necesario. El facilitador decidirá uno de los siguientes: permitirle al estudiante
reponer el trabajo o asignarle trabajo adicional en adición al trabajo a ser repuesto.
Toda tarea a ser completada antes del taller deberá ser entregada en la fecha asignada.
El facilitador ajustará la nota de las tareas repuestas.
4. Si un estudiante se ausenta a más de un taller el facilitador tendrá las siguientes
opciones:
a. Si es a dos talleres, el facilitador reducirá una nota por debajo basado en
la nota existente.
b. Si el estudiante se ausenta a tres talleres, el facilitador reducirá la nota a
dos por debajo de la nota existente.
5. La asistencia y participación en clase de actividades y presentaciones orales es
extremadamente importante pues no se pueden reponer. Si el estudiante provee una
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excusa válida y verificable, el facilitador determinará una actividad equivalente a
evaluar que sustituya la misma. Esta actividad deberá incluir el mismo contenido y
componentes del lenguaje como la presentación oral o actividad a ser repuesta.
6. En actividades de grupo, el grupo será evaluado por su trabajo final. Sin embargo,
cada miembro de grupo deberá participar y cooperar para lograr un trabajo de
excelencia, pero recibirán una calificación individual.
7. Se espera que todo trabajo escrito sea de la autoría de cada estudiante y no plagiado.
Se debe entender que todo trabajo sometido esta citado apropiadamente o
parafraseado y citado dando atención al autor. Todo estudiante debe ser el autor de su
propio trabajo. Todo trabajo que sea plagiado, copiado o presente trazos de otro será
calificado con cero. El servicio de SafeAssign TM de Blackboard será utilizado por los
facilitadores para verificar la autoría de los trabajos escritos de los estudiantes. Es
responsabilidad del estudiante el leer la política de plagio de su universidad. Si usted
es estudiante de UT, deberá leer la Sección 11.1 del Manual del Estudiante. Si es
estudiante de UMET y UT, refiérase al Capítulo 13, secciones 36 y 36.1 de los
respectivos manuales.
Se espera un comportamiento ético en todas las actividades del curso. Esto implica
que TODOS los trabajos tienen que ser originales y que de toda referencia utilizada
deberá indicarse la fuente, bien sea mediante citas o bibliografía. No se tolerará el
plagio y, en caso de que se detecte casos del mismo, el estudiante se expone a recibir
cero en el trabajo y a ser referido al Comité de Disciplina de la institución. Los
estudiantes deben observar aquellas prácticas dirigidas a evitar incurrir en el plagio de
documentos y trabajos.
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8. Si el facilitador hace cambios al módulo o guía de estudio, deberá discutirlos y
entregar copia a los estudiantes por escrito al principio del primer taller.
9. El facilitador establecerá los medios para contactar a los estudiantes proveyendo su
correo electrónico, teléfonos, y el horario disponibles.
10. EL uso de celulares está prohibido durante las sesiones de clase; de haber una
necesidad, deberá permanecer en vibración o en silencio.
11. La visita de niños y familiares no registrados en el curso no está permitida en el salón
de clases.
12. Todo estudiante está sujeto a las políticas y normas de conducta y comportamiento
que rigen al SUAGM y el curso.
Nota: Si por alguna razón no puede acceder las direcciones electrónicas ofrecidas en el
módulo, no se limite a ellas. Existen otros motores de búsqueda y sitios Web que podrá
utilizar para la búsqueda de la información deseada. Entre ellas están:
• www.google.com
• www.ask.com
• www.pregunta.com
• www.findarticles.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
• http://www.apastyle.org/
Para comprar o alquilar libros de texto o referencias nuevas o usadas puede visitar:
• http://www.chegg.com/ (alquiler)
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• http://www.bookswim.com/ (alquiler)
• http://www.allbookstores.com/ (compra)
• http://www.alibris.com/ (compra)
Estos son sólo algunas de las muchas compañías donde puede comprar o alquilar
libros.
El/la facilitador(a) puede realizar cambios a las direcciones electrónicas y/o añadir algunas de
ser necesario.
Nota: Del facilitador o el estudiante requerir o desear una investigación o la administración
de cuestionarios o entrevistas, deben referirse a las normas y procedimientos de la Oficina de
Cumplimiento y solicitar su autorización. Para acceder a los formularios de la Oficina de
Cumplimiento pueden visitar este enlace
http://www.suagm.edu/ac_aa_re_ofi_formularios.asp y seleccionar los formularios que
necesite.
Además de los formularios el estudiante/facilitador puede encontrar las instrucciones para la
certificación en línea. Estas certificaciones incluyen: IRB Institutional Review Board, Health
Information Portability Accounting Act (HIPAA), y Responsibility Conduct for Research
Act (RCR).
De tener alguna duda, favor de comunicarse con la Coordinadoras Institucionales o a la
Oficina de Cumplimiento a los siguientes teléfonos:
Sra. Evelyn Rivera Sobrado, Directora Oficina de Cumplimiento
Tel. (787) 751-0178 Ext. 7196
Srta. Carmen Crespo, Coordinadora Institucional Cumplimiento – UMET
Tel. (787) 766-1717 Ext. 6366
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Sra. Josefina Melgar, Coordinadora Institucional Cumplimiento – Turabo
Tel. (787) 743-7979 Ext.4126
Dra. Rebecca Cherry, Coordinadora Institucional Cumplimiento – UNE
Tel. (787) 257-7373 Ext. 3936
Filosofía y Metodología Educativa
Este curso está basado en la teoría educativa del Constructivismo. Constructivismo
es una filosofía de aprendizaje fundamentada en la premisa, de que, reflexionando a través de
nuestras experiencias, podemos construir nuestro propio conocimiento sobre el mundo en el
que vivimos.
Cada uno de nosotros genera nuestras propias “reglas “y “métodos mentales” que
utilizamos para darle sentido a nuestras experiencias. Aprender, por lo tanto, es simplemente
el proceso de ajustar nuestros modelos mentales para poder acomodar nuevas experiencias.
Como facilitadores, nuestro enfoque es el mantener una conexión entre los hechos y fomentar
un nuevo entendimiento en los estudiantes. También, intentamos adaptar nuestras estrategias
de enseñanza a las respuestas de nuestros estudiantes y motivar a los mismos a analizar,
interpretar y predecir información.
Existen varios principios para el constructivismo, entre los cuales están:
1. El aprendizaje es una búsqueda de significados. Por lo tanto, el aprendizaje debe
comenzar con situaciones en las cuales los estudiantes estén buscando activamente
construir un significado.
2. Significado requiere comprender todas las partes. Y, las partes deben entenderse en el
contexto del todo. Por lo tanto, el proceso de aprendizaje se enfoca en los conceptos
primarios, no en hechos aislados.
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3. Para enseñar bien, debemos entender los modelos mentales que los estudiantes utilizan
para percibir el mundo y las presunciones que ellos hacen para apoyar dichos modelos.
4. El propósito del aprendizaje, es para un individuo, el construir su propio significado, no
sólo memorizar las contestaciones “correctas” y repetir el significado de otra persona.
Como la educación es intrínsecamente interdisciplinaria, la única forma válida para
asegurar el aprendizaje es hacer del avalúo parte esencial de dicho proceso, asegurando
que el mismo provea a los estudiantes con la información sobre la calidad de su
aprendizaje.
5. La evaluación debe servir como una herramienta de auto-análisis.
6. Proveer herramientas y ambientes que ayuden a los estudiantes a interpretar las múltiples
perspectivas que existen en el mundo.
7. El aprendizaje debe ser controlado internamente y analizado por el estudiante.
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STUDY GUIDE
Course Title: Advanced Auditing II
Code: ACCO 710
Time Length: Five Weeks
Pre-requisite: ACCO 706
Description
This course will study the auditing process and other assurance services, including ethics,
responsibilities, and objectives of the auditing profession. It will provide an understanding of
the audit decision making in today’s complex auditing environment. It includes the
application of the Generally Accepted Auditing Standards (GAAS), information on new
auditing standards, coverage of the Public Companies Accounting Oversight Board
(PCAOB), the risk assessment standards, and the requirements of the Sarbanes—Oxley Act.
It will offer the opportunity to face real-world audit decision making by using illustrative
examples of key audit decisions, with an emphasis on audit planning, risk assessment
processes, and collecting and evaluating evidence in response to risks including international
coverage, international auditing standards, and emphasizes issues affecting audits of multi-
national entities and international issues.
General Objectives
As the course finishes, the student will be capable of:
1. Explain the auditing process from start to finish.
2. Classify the different types of auditing processes.
3. Distinguish the elements and characteristics of each ones.
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4. Identify the coverage of the Public Companies Accounting Oversight Board
(PCAOB), the requirements of the Sarbanes—Oxley Act, and the new auditing
standards.
5. Describe the audit planning and risk assessment processes.
Textbooks and Resources
Arens, A. A., Elder, R.J., & Beasley, M.S. (2009). Auditing and Assurance Services: An
Integrated Approach. (13th ed.). New York, NY: Prentice Hall. ISBN: 0136084737
Delaney, P. R.,. Pany, K., &. Smith, S. (2000). Wiley CPA Examination Review: Auditing.
New York, NY: John Wiley & Sons, Inc. (e-book)
Reference and Supplementary Material
Boynton, W.C., & Johnson, R.N. (2006). Modern Auditing: Assurance Services and the
Integrity of Financial Reporting. (8th ed.). Hoboken, NJ: John Wiley & Sons, Inc.
Guy, D.M. & Carmichael, D.R. (2000). Wiley's Student GAAS Guide. (2000-2001 ed.).
Hoboken, NJ: John Wiley & Sons, Inc.
Hopwood, W.S., Leiner, J.J., & Young, G.R. (2008), Forensic Accounting. (1th ed.). New
York, NY: McGraw-Hill/Irwin.
Louwers, T.J., Ramsay, R.J., Sinason, D.M., Strawser, J.R. & Thibodeau, J.C. (2011). MP
Auditing and Assurance Services w/ACL Software. (4th ed.). New York, NY:
McGraw-Hill/Irwin.
Porter, B., Hatherly, D. & Simon, J. (2008). Principles of External Auditing. (3rd ed.).
Hoboken, NJ: John Wiley & Sons, Inc.
Thibodeau, J.C. & Freier, D. (2009). Auditing After Sarbanes-Oxley. (2nd ed.). New York,
NY: McGraw-Hill/Irwin.
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Evaluation
Evaluation criteria Points
Attendance and participation 50
Portfolio 50
Debate 50
URLs class discussion/debate 50
Reflective diary 50
Mid-term Exam 100
Final Project 150
Exercises 100
TOTAL 600
Evaluation’s description
• Attendance and participation (Workshops 1 - 5)
o Attendance and participation in every workshop is mandatory. The student will
receive ten (10) points per workshop. The following criteria will also be
evaluated:
� Mastery of the material discussed in class.
� Completion of work assigned in class.
� Collaboration with their peers on assigned group work.
� Demonstration of proper verbal communication skills.
� Turn in work strictly on time.
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Absences will affect your final grade as follows: 2 points for your attendance and 8 points for
your participation in class. A student that is absent to a workshop must present the facilitator
a reasonable excuse. The facilitator will evaluate if the absence is justified and decide how
the student will make up the missing work, if applicable. The facilitator will decide on the
following: allow the student to make up the work, or allow the student to make up the work
and assign extra work to compensate for the missing class time.
Assignments required prior to the workshop must be completed and turned in on the
assigned date. The facilitator may decide to adjust the grade given for late assignments and
make-up work.
If a student is absent to more than one workshop the facilitator will have the following
options:
a. If a student misses two workshops, the facilitator may lower one grade based on the
students existing grade.
b. If the student misses three workshops, the facilitator may lower two grades based on the
students existing grade.
Attendance and participation (Workshops 1 - 5)
In addition to the mandatory attendance and class participation the student will complete
twenty (20) hours of language laboratory. Throughout each week the student will keep
evidence of his/her work to turn in on the fifth workshop. The facilitator will determine the
distribution of hours among the two languages – English and Spanish – according to the
individual needs of each student. The student can complete the laboratory requirements
either physically at the centers – language laboratories – or at home/work through the web-
based program “Tell Me More.”
• Portfolio (Workshops 1, 3, and 5)
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o All self assessment and reflection written assignments, together with the selection
of work done during the course, will be assembled in a portfolio strictly following
the guidelines of portfolio elaboration in Appendices (H-P).
o The portfolio should be submitted twice during this course: First partial
evaluation (Workshop 3) and final evaluation (Workshop 5).
o The portfolio will be evaluated using Appendix M.
• Debate (Workshops 2 and 4)
o Every group of students will bring into discussion the content relevant to the
assigned topic and use all the resources that help the presentation of the topic to
be discussed (e.g. visual aids, books, posters, etc.).
o Every group can use notes or read short excerpts of what researchers say about
their assigned topics.
o This activity will be evaluated using Appendix G.
• Mid-term Exam (Workshop 4)
o This is a take-home exam.
o It will be distributed on workshop three.
o Must be turn in at the beginning of workshop four.
o This activity will be evaluated using a scale of 100 points.
• Final Project (Workshop 5)
o This is a team assignment. You will find the details on Appendix Q.
o It will be explained and discussed on workshop one.
o Must be turn in at the beginning of workshop five.
o This activity will be evaluated using a scale of 150 points.
o This activity will be evaluated using Appendixes B and C.
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• URL Discussions (Workshops 1 - 5)
o The students will be prepared to discuss the URLs assigned for the workshop.
o The discussions will be evaluated using Appendix D.
• Reflective Diary (Workshops 1, 3, and 5)
o The students will express their thoughts on the subjects learned, how would they
help them, and how to apply these concepts in their life.
o This write-up would be evaluated using Appendix E.
• Auto-evaluation (Workshops 2, 4, and 5)
o The students will prepare an evaluation considering the general aspects,
vocabulary, structure, and organization.
o The write-up would be evaluated using Appendix F.
• Exercises (Workshops 1 - 5)
o Students will prepare the exercises as assigned during the workshop.
Evaluation curve
100-90% A 89-80% B 79-70% C 69-60% D 59-00% F
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Description of course policies
1. This course follows the Sistema Universitario Ana G. Méndez Discipline-Based Dual
Language Immersion Model® designed to promote each student’s development as a Dual
Language Professional. Workshops will be facilitated in English and Spanish, strictly
using the 50/50 model. This means that each workshop will be conducted entirely in the
language specified. The language used in the workshops will alternate to insure that 50%
of the course will be conducted in English and 50% in Spanish. To maintain this balance,
the course module may specify that both languages will be used during the fifth
workshop, dividing that workshop’s time and activities between the two languages. If
students have difficulty with asking a question in the target language in which the activity
is being conducted, students may choose to use their preferred language for that particular
question. However, the facilitator must answer in the language assigned for that particular
day. This should only be an exception as it is important for students to use the assigned
language. The 50/50 model does not apply to language courses where the delivery of
instruction must be conducted in the language taught (Spanish or English only).
2. The course is conducted in an accelerated format and requires that students prepare in
advance for each workshop according to the course module. Each workshop requires an
average ten hours of preparation but could require more.
3. Attendance at all class sessions is mandatory. A student that is absent to a workshop
must present the facilitator a reasonable excuse. The facilitator will evaluate if the
absence is justified and decide how the student will make up the missing work, if
applicable. The facilitator will decide on the following: allow the student to make up the
work, or allow the student to make up the work and assign extra work to compensate for
the missing class time.
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Assignments required prior to the workshop must be completed and turned in on the
assigned date. The facilitator may decide to adjust the grade given for late assignments
and make-up work.
4. If a student is absent to more than one workshop the facilitator will have the
following options:
a. If a student misses two workshops, the facilitator may lower one grade based
on the students existing grade.
b. If the student misses three workshops, the facilitator may lower two grades
based on the students existing grade.
5. Student attendance and participation in oral presentations and special class activities are
extremely important as it is not possible to assure that they can be made up. If the student
provides a valid and verifiable excuse, the facilitator may determine a substitute
evaluation activity if he/she understands that an equivalent activity is possible. This
activity must include the same content and language components as the oral presentation
or special activity that was missed.
6. In cooperative activities the group will be assessed for their final work. However, each
member will have to collaborate to assure the success of the group and the assessment
will be done collectively as well as individually.
7. It is expected that all written work will be solely that of the student and should not be
plagiarized. That is, the student must be the author of all work submitted. All quoted or
paraphrased material must be properly cited, with credit given to its author or publisher.
It should be noted that plagiarized writings are easily detectable and students should not
risk losing credit for material that is clearly not their own. SafeAssignTM, a Blackboard
plagiarism deterrent service, will be used by the facilitators to verify students’ ownership
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of written assignments. It is the student’s responsibility to read the university’s
plagiarism policy. If you are a UT student, read Section 11.1 of the Student Manual, and
if you belong to UMET or UNE, refer to Chapter 13, Sections 36 and 36.1 of the
respective manuals.
Ethical behavior is expected from the students in all course related activities. This means
that ALL papers submitted by the student must be original work and that all references
used will be properly cited or mentioned in the bibliography. Plagiarism will not be
tolerated and, in case of detecting an incidence, the student will obtain a zero in the
assignment or activity and could be referred to the Discipline Committee.
8. If the Facilitator makes changes to the study guide, such changes should be discussed
with and given to students in writing at the beginning of the first workshop.
9. The facilitator will establish a means of contacting students by providing an email
address, phone number, hours to be contacted and days.
10. The use of cellular phones is prohibited during sessions; if there is a need to have one, it
must be on vibrate or silent mode during class session.
11. Children or family members that are not registered in the course are not allowed to the
classrooms.
12. All students are subject to the policies regarding behavior in the university community
established by the institution and in this course.
Note: If for any reason you cannot access the URL’s presented in the module, do not
stop your investigation. There are many search engines and other links you can use
to search for information. These are some examples:
• www.google.com
• www.ask.com
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• www.pregunta.com
• www.findarticles.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
• www.google.com
• www.ask.com
• www.pregunta.com
• www.findarticles.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
• http://www.apastyle.org/
To buy or rent new or used textbooks or references you can visit:
• http://www.chegg.com/ (rent)
• http://www.bookswim.com/ (rent)
• http://www.allbookstores.com/ (buy)
• http://www.alibris.com/ (buy)
The facilitator may make changes or add additional web resources if deemed necessary.
Note: If the facilitator or the student is required or wants to perform a research or needs to
administer a questionnaire or an interview, he/she will need to refer to the norms and
procedures of the Institutional Review Board Office (IRB) and ask for authorization. To
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access the forms from the IRB Office or for additional information, visit the following link:
http://www.suagm.edu/ac_aa_re_ofi_formularios.asp and select the forms needed.
Furthermore, in this website the student/facilitator will find instructions for several online
certifications related to IRB processes. These certifications include: IRB Institutional
Review Board, Health Information Portability Accounting Act (HIPAA), y Responsibility
Conduct for Research Act (RCR).
If you have any question, please contact the following Institutional Coordinators:
Mrs. Evelyn Rivera Sobrado, Director of IRB Office (PR)
Tel. (787) 751-0178 Ext. 7196
Miss. Carmen Crespo, IRB Institutional Coordinator– UMET
Tel. (787) 766-1717 Ext. 6366
Sra. Josefina Melgar, IRB Institutional Coordinator – Turabo
Tel. (787) 743-7979 Ext.4126
Rebecca Cherry, Ph.D., IRB Institutional Coordinator – UNE
Tel. (787) 257-7373 Ext. 3936
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Teaching Philosophy and Methodology
This course is grounded in the learning theory of Constructivism. Constructivism is a
philosophy of learning founded on the premise that, by reflecting on our experiences, we
construct our own understanding of the world in which we live.
Each of us generates our own “rules” and “mental models,” which we use to make sense
of our experiences. Learning, therefore, is simply the process of adjusting our mental models
to accommodate new experiences. As teachers, our focus is on making connections between
facts and fostering new understanding in students. We will also attempt to tailor our teaching
strategies to student responses and encourage students to analyze, interpret and predict
information.
There are several guiding principles of constructivism:
1. Learning is a search for meaning. Therefore, learning must start with the issues around
which students are actively trying to construct meaning.
2. Meaning requires understanding wholes as well as parts. And parts must be understood in
the context of wholes. Therefore, the learning process focuses on primary concepts, not
isolated facts.
3. In order to teach well, we must understand the mental models that students use to
perceive the world and the assumptions they make to support those models.
4. The purpose of learning is for an individual to construct his or her own meaning, not just
memorize the "right" answers and regurgitate someone else's meaning. Since education is
inherently interdisciplinary, the only valuable way to measure learning is to make the
assessment part of the learning process, ensuring it provides students with information on
the quality of their learning.
5. Evaluation should serve as a self-analysis tool.
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6. Provide tools and environments that help learners interpret the multiple perspectives of
the world.
7. Learning should be internally controlled and mediated by the learner.
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Workshop One
Specific Objectives
At the end of this workshop, students will:
1. Describe the auditing process, distinguishing between auditing and accounting.
2. Identify the objectives, purposes, and functions of the Generally Accepted Auditing
Standards (GAAS).
3. Understand the role of the Public Companies Accounting Oversight Board (PCAOB), the
Securities and Exchange Commission (SEC), and the effects of the Sarbanes—Oxley Act
(SOX) on the CPA profession.
4. Differentiate the three main types of audits and identify the primary type of auditors.
5. Explain the importance of auditing in reducing information risk.
Specific Language Objectives
Students will:
1. Use cooperative learning strategies to analyze and discuss the URL content.
2. Write a clear and accurate report by describing the accounting basic principles using
appropriate vocabulary, grammar, and style.
3. Use the reading process effectively, present verbal comments, and support his /her ideas
about the subjects assigned for this workshop with facts.
URLs
The Institute of Internal Auditors
http://www.theiia.org/
The Global Resource for Auditors
http://www.auditnet.org/
American Institute of Certified Public Accountants
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http://www.aicpa.org/
The General Accounting Office (GAO)
http://www.gao.gov/about/
Public Companies Accounting Oversight Board (PCAOB)
http://pcaobus.org
Securities and Exchange Commission (SEC)
http://www.sec.gov/
SEC’s EDGAR database
http://www.sec.gov/edgar.shtml
State Board of Accountancy
http://www.aicpa.org/yellow/ypsboa.htm
PricewaterhouseCoopers’ 2010 Global Internal Audit Study
http://www.pwc.com/gx/en/press-room/2010/PwC-2010-Global-Internal-Audit-Study.jhtml
United Nations Panel of External Auditors
http://www.un.org/auditors/panel/
Assignments before Workshop One
1. Read the recommended URL’s, textbooks and other reference materials. Pay close
attention to the rubrics in the Appendix section. These rubrics will be used to assess your
knowledge and will be used to assess your knowledge, language skills and participation.
2. Research, define, and describe in no more than three paragraphs the role of these
institutions in the auditing process:
a. Public Companies Accounting Oversight Board (PCAOB)
b. The Sarbanes-Oxley Act
c. Securities and Exchange Commission
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d. The United States General Accounting Office
e. SEC’s EDGAR database
3. Study the URLs addresses for this workshop and come prepared to discuss their content
in class.
4. Research and be prepared to discuss in class the similarities and differences between
financial statement audits, operational audits, and compliance audits. Give an example of
each type.
5. Research and be prepared to discuss in class the similarities and differences between the
roles of independent auditors, GAO auditors, internal revenue agents, and internal
auditors.
Activities:
1. General presentation of the course, module, students, and facilitator.
2. The facilitator will perform an ice breaking activity with students.
3. The facilitator will discuss with the students the subjects assigned.
4. The facilitator will divide the class into groups of three students to discuss an “URL”
provided for this workshop. The facilitator will assign to each group of students. The
groups will discuss their summaries in class of the information on it, and how does it
relate to any subject(s) discuss in the workshop.
5. Students will prepare on the whiteboard the exercises assigned during the workshop by
the facilitator and will discuss them with the rest of the class.
6. The facilitator will reinforce the concepts discussed in class with additional exercises as
necessary.
7. The students will begin working on their portfolios following the guidelines of portfolio
elaboration included in this module.
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8. The facilitator explains the work to be completed before Workshop two.
9. The student will write a reflective diary to react critically about the concepts, feelings and
related attitudes about the subject matters covered in this workshop.
Assessment
Each student will be assessed based on:
1. Appendix A rubric for class participation.
2. Appendix D for the URL discussion.
3. Appendix E for the reflective diary.
4. Appendix M for the portfolio.
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Taller Dos
Objetivos Específicos
Al final el taller dos, los estudiantes:
1. Explicar el objetivo de conducir una auditoria de los estados financieros y de los
controles internos.
2. Identificar las fases de una auditoria de los estados financieros y el rol de un auditor
en cada una de ellas.
3. Diferenciar las responsabilidades del Gerente y del Auditor.
4. Entender los propósitos del uso de documentación de auditoria.
5. Identificar los diferentes tipos de evidencia en un proceso de auditoria y como los
registros de contabilidad son utilizados como evidencia de auditoria.
6. Entender los usos y limitaciones de los índices financieros y su aplicación en el
proceso de auditoria.
7. Explicar el proceso de planificación y ejecución de un proceso de auditoria.
Objetivos específicos de lenguaje:
1. Los estudiantes utilizarán estrategias efectivas para llevar a cabo discusiones formales
e informales incluyendo actividades de reflexión y análisis, respetando diversos
puntos de vista.
2. Los estudiantes utilizarán el proceso de lectura efectivamente.
3. Los estudiantes expresarán sus ideas en español oralmente de manera efectiva usando
organizadores gráficos.
Direcciones Electrónicas
Descripción de Trabajo de un Auditor Externo
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http://www.ehow.com/about_5513152_external-auditor-job-description.html
Plan de Auditoria de un Auditor Externo
http://www.irs.gov/pub/irs-utl/proposed_wp_audit_plan_qihpg.pdf
Directorio de Auditores Externos
http://www.oas.org/documents/eng/boardexternalauditors.asp
Revista “Auditoria: Una Publicación de Practica y Teoría”
http://aaapubs.aip.org/aud/
Publicación “Contabilidad y Auditoria”
http://info.emeraldinsight.com/products/journals/journals.htm
Base de Datos SEC - EDGAR
http://www.sec.gov/edgar.shtml
El Instituto de Auditores Internos
http://www.theiia.org/
Public Companies Accounting Oversight Board (PCAOB)
http://pcaobus.org
Las 100 Firmas más importantes de Contabilidad en 2010
http://www.webcpa.com/news/Accounting-Today-Top-100-Firms-2010-53590-1.html
AICPA Código de Conducta Profesional
http://www.aicpa.org/About/code/index.html
Tareas a realizar antes del Taller Dos
1. Revise el contenido de las direcciones electrónicas del taller dos y vaya preparado/a al
salón para discutir los temas del taller.
2. Discutir las diferencias entre errores, fraudes y actos ilegales. Provea un ejemplo de cada
uno.
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3. Completar los ejercicios asignados para este taller.
4. Los estudiantes prepararán un bosquejo del proceso de auditoria de los reportes anuales o
10-Ks de una empresa pública. Los estudiantes podrán utilizar la base de datos de la SEC
(EDGAR).
Actividades:
1. El facilitador comenzará la clase con un breve repaso.
2. El facilitador discutirá con los estudiantes los temas asignados.
3. En un ejercicio de torbellino de ideas, los estudiantes – con la ayuda del facilitador –
desarrollarán una lista que les ayude a explicar los distintos componentes del estado de
ingresos y gastos.
4. El facilitador asignará a cada grupo una dirección de Internet (URL) provista para el
taller. Cada grupo presentará un resumen sobre la información en el mismo y sobre cómo
ésta se relaciona a los temas discutidos en este taller
5. Los estudiantes reaccionarán a las presentaciones de sus compañeros, ya sea comentando
a favor de sus puntos sobre los temas, o retando los mismos exponiendo claramente su
posición.
6. Los estudiantes prepararán en la pizarra los ejercicios asignados durante el taller por el
facilitador.
7. El facilitador asignará ejercicios adicionales según crea conveniente para ampliar y/o
aclarar el conocimiento de los temas presentados, individual o en forma grupal.
8. Los estudiantes trabajarán en grupos en clase para evaluar reportes anuales o 10-Ks.
Deberán presentar el objetivo de una auditoria en relación a cada reporte anual e
identificar tanto el negocio del cliente así como la industria donde se desempeña el
negocio.
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9. El facilitador mencionará las tareas a ser realizadas para el taller tres.
Avalúo
1. El Anejo A incluye la matriz de valoración para la participación en clase.
2. El Anejo C se utilizará para la actividad del bosquejo y bibliografía.
3. El Anejo D se utilizará para la actividad de “URL”.
4. El Anejo F se utilizará par la actividad de auto evaluación.
5. El Anejo G se utilizará para la actividad del torbellino de ideas.
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Workshop Three
Specific Objectives
At the end of this workshop, students will:
1. Describe the auditing process applied to the sales and collection cycle.
2. Identify the different accounts and classes of transactions in the sales and collection
cycle.
3. Understand the methodology for designing Tests of Controls and Substantive Tests of
Transactions for Sales.
4. Describe the auditing sampling process.
5. Indicate the four audit evidence decisions.
Specific Language Objectives
Students will:
1. Use cooperative learning strategies to analyze and discuss the URL content.
2. Write a clear and accurate report by describing the accounting basic principles using
appropriate vocabulary, grammar, and style.
3. Use the reading process effectively, present verbal comments, and support his /her ideas
about the subjects assigned for this workshop with facts.
URLs
Audit Sampling
http://findarticles.com/p/articles/mi_m4153/is_1_58/ai_71268474/
Managing risk
http://www.pwc.com/us/en/private-company-services/publications/managing-risk-internal-
controls.jhtml?WT.srch=1&wt.mc_id=MRK100401WS2
Audit committees
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http://www.ey.com/US/en/Services/Assurance/External-Audit-Services/
Financial reporting issues for 2010
http://www.ey.com/US/en/Services/Assurance/BoardMatters-Quarterly--January-2010---
Financial-reporting-issues-for-2010
Fraud risks facing audit committees
http://www.ey.com/US/en/Services/Assurance/BoardMatters-Quarterly--January-2010---
Fraud-risks-facing-audit-committees
Compensation, risk, and the role of the audit committee
http://www.ey.com/Publication/vwLUAssets/ACLN_ViewPoints28_CompensationAndRisk_
CJ0150.pdf/$FILE/ACLN_ViewPoints28_CompensationAndRisk_CJ0150.pdf
Global resources for Auditors
http://www.auditnet.org/
Financial statement assertions
http://findarticles.com/p/articles/mi_m4153/is_2_61/ai_n6152651/
The Confirmation Process
http://www.aicpa.org/download/members/div/auditstd/AU-00330.PDF
Auditing Dictionary of Terms
http://www.ais-cpa.com/glosa.html
Assignments before Workshop Three
1. Prepare the exercises assigned for this workshop.
2. Revise the content of the Internet addresses, and come prepared to discuss in class the
subjects for this workshop.
3. Read, study, and come to class prepared to discuss the Substantive Tests of Accounts
Receivable Assertions.
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4. Come prepared to actively participate in class.
Activities:
1. The facilitator will begin the class with a short review.
2. The facilitator will clarify any doubt about the subjects covered thus far in the course.
3. The facilitator will assign to each group of students an “URL” provided for this workshop.
The groups will discuss their summaries in class of the information on it, and how does it
relate to any subject(s) discuss in the workshop.
4. Students will prepare on the whiteboard the exercises assigned during the workshop by the
facilitator and will discuss them with the rest of the class.
5. The facilitator will reinforce the concepts discussed in class with additional exercises as
necessary.
6. Students will continue working on their portfolios and insert all the documents written
and/or completed so far, following the guidelines of portfolio elaboration.
7. Students will hand in the portfolio to the facilitator for its first partial evaluation.
8. The facilitator explains the work to be completed before Workshop four.
9. The facilitator will handle the take home exam to be submitted on Workshop Four.
10. The student will write a reflective diary to react critically about the concepts, feelings and
related attitudes about the subject matters covered in this workshop.
Assessment
Each student will be assessed based on:
1. Appendix A rubric for class participation.
2. Appendix D for the URL discussion.
3. Appendix E for the reflective diary.
4. Appendix M for the portfolio.
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Taller Cuatro
Objetivos específicos
Al final el taller cuatro, los estudiantes:
1. Indicar cómo reportar el efectivo y partidas relacionadas.
2. Distinguir las auditorias de las cuentas de ingreso y de gastos.
3. Efectuar los procedimientos de programas de auditoria para los ciclos de adquisiciones y
desembolsos de efectivo.
4. Identificar los distintos tipos de cuentas por cobrar.
5. Evaluar los métodos apropiados de desglosar las ventas y las cuentas por cobrar en los
estados financieros.
6. Reconocer los métodos correctos de contabilizar y valorar los pagarés por cobrar.
Objetivos específicos de lenguaje:
Los estudiantes:
1. Los estudiantes utilizarán estrategias efectivas para llevar a cabo discusiones formales e
informales incluyendo actividades de reflexión y análisis, respetando diversos puntos de
vista.
2. Los estudiantes utilizarán el proceso de lectura efectivamente.
3. Los estudiantes expresarán sus ideas en español oralmente de manera efectiva usando
organizadores gráficos.
Direcciones Electrónicas
Que es un Procedimiento Substantivo
http://www.blurtit.com/q170142.html
Pruebas Substantivas
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http://www.answers.com/topic/substantive-test
Generalidades en la Auditoria
http://www.eumed.net/cursecon/libreria/rgl-genaud/1z.htm
Cómo realizar pruebas sustantivas efectivas?
http://www.consultenos.org/index.php?option=com_content&view=article&id=74:auditoria
&catid=1:latest-news&Itemid=18
Cómo realizar pruebas sustantivas del ciclo de ventas, cuentas por cobrar y recaudos, de
forma efectiva?
http://www.actualicese.com/opinion/como-realizar-pruebas-sustantivas-del-ciclo-de-ventas-
cuentas-por-cobrar-y-recaudos-de-forma-efectiva-nasaudit/
La Auditoria Contable
http://html.rincondelvago.com/auditoria-contable.html
El planeamiento de la auditoría y las pruebas sustantivas o de validación
http://www.contadoresyempresas.com.pe/boletines_revistas/setiembre_05/bc_06_09.pdf
Cómo realizar pruebas sustantivas en el ciclo de compras, cuentas por pagar y desembolsos?
http://www.actualicese.com/opinion/como-realizar-pruebas-sustantivas-en-el-ciclo-de-
compras-cuentas-por-pagar-y-desembolsos-nasaudit/
Pruebas Sustantivas antes de la fecha de cierre de los estados financieros
http://www.ayudacontador.cl/ayudacontador/nagas/313.html
Evidencia de Auditoria
http://fccea.unicauca.edu.co/old/muestreo.htm
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Tareas a realizar antes del Taller Cuatro
1. Preparar los ejercicios asignados para este taller y el examen para la cas entregado
durante el taller anterior.
2. Revise el contenido de las direcciones electrónicas del taller cuatro y vaya preparado/a al
salón para discutir los temas del taller.
3. Determinar el numero total de facturas y el total de facturas sin pagar en circulación para
compararlas con el mayor general (general ledger)
4. Describir las funciones de negocios y los documentos relacionados y los registros en el
ciclo de pago y adquisición.
5. Entender el control interno y el diseño y realizar las pruebas de control y las pruebas
substantivas de las transacciones para los ciclos de pago y adquisición.
6. Describir la metodología para diseñar las pruebas de detalles de los balances para las
cuentas a pagar utilizando el modelo de riesgo de la auditoria.
Actividades:
1. El facilitador comenzará la clase con un repaso breve.
2. El facilitador discutirá con los estudiantes los temas asignados.
3. El facilitador asignará a cada grupo una dirección de Internet (URL) provista para el
taller. Cada grupo presentará un resumen sobre la información en el mismo y sobre cómo
ésta se relaciona a los temas discutidos en este taller
4. El facilitador dividirá la clase en cuatro grupos pequeños. Cada grupo seleccionará un
proceso/tema de los asignados para el taller para representarlo en una discusión utilizando
la técnica del debate.
5. Los estudiantes prepararán en la pizarra los ejercicios asignados durante el taller por el
facilitador.
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6. El facilitador asignará ejercicios adicionales según crea conveniente para ampliar y/o
aclarar el conocimiento de los temas presentados, individual o en forma grupal.
7. Los estudiantes reaccionarán a las presentaciones de sus compañeros, ya sea comentando
a favor de sus puntos sobre los temas, o retando los mismos exponiendo claramente su
posición.
8. Los estudiantes continuarán trabajando en sus portafolios siguiendo las indicaciones
dadas en este módulo.
9. Los estudiantes prepararán una evaluación propia sobre su desempeño en el taller.
10. El facilitador explicará las tareas a ser completadas antes del Taller cinco.
Avalúo
1. El Anejo A incluye la matriz de valoración para la participación en clase.
2. El Anejo G se utilizará para la actividad del debate.
3. El Anejo D se utilizará para la actividad de “URL”.
4. El Anejo F se utilizará par la actividad de auto evaluación.
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Workshop Five/Taller Cinco
NOTA: Este taller es bilingüe. Tanto, el
Facilitador como los estudiantes,
deberán utilizar el idioma asignado para
cada tarea y actividad.
NOTE: This is a bilingual workshop.
Both the facilitator and student should
use the language assigned for each
homework and activity.
Specific Objectives
At the end of this workshop, students will:
1. Identify the auditor’s responsibilities that occur at the end of the audit.
2. Distinguish between the auditor responsibilities at the end of the audit and the post-audit
responsibilities.
3. Understand the internal controls over financial reporting.
4. Identify the auditor’s responsibilities for illegal acts.
5. Understand the variety of attest and assurance services.
6. Understand the role of the CPA in the auditing process.
Specific Language Objectives
Students will:
1. Use cooperative learning strategies to analyze and discuss the URL content in English.
2. Write, in Spanish, a clear and accurate report by describing the accounting basic
principles using appropriate vocabulary, grammar, and style.
3. Use the reading process effectively, present verbal comments in English, and support his
/her ideas about the subjects assigned for this workshop with facts.
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ULRs
Audit Committee Effectiveness Center
http://www.aicpa.org/audcommctr/homepage.htm
Audit Committee
http://www.corpgov.deloitte.com/site/us/audit-
committee/;jsessionid=JM1TLXyZySC5VKlGND6vpsRVLnyrnbL2cdM8gkDpy2w2SbSKb
L0N!-860565013!505087471
Audit documentation review
http://www.aicpa.org/download/members/div/auditstd/AU-00339.PDF
Auditing Standard No. 3 - Audit Documentation
http://pcaobus.org/Standards/Auditing/Pages/Auditing_Standard_3.aspx
The Association of College and University Auditors (ACUA)
http://www.acua.org/
Audit Legal Representation Letter Guidance
http://www.fasab.gov/aapc/legalgud.htm
Letter of Representation
http://www.answers.com/topic/letter-of-representation
The Management Representation Letter
http://www.pkfnewyork.com/Publications/PDF/Perspectives-RepLtrs-FINAL%204_06.pdf
Engagement Letters
http://www.rigos.net/loss_control/LC_Engage.shtml
Auditing documents
http://www.cpadirectory.com/cpasecretary/list.cfm
Assignments before Workshop Five
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1. Work on the exercises assigned for this workshop.
2. Revise the content of the Internet addresses, and come prepared to discuss in class the
subjects for this workshop.
3. Prepare and discuss in class:
a. What is the purpose of a client representation letter and what should be included
in the letter?
b. Discuss the purposes of performing analytical procedures during the audit
completion phase.
c. Discuss the three matters which Sarbanes-Oxley requires auditors of public
companies to report to the audit committee.
4. Complete your Final Project
Activities:
1. The facilitator will start the class with a short review and will clarify any doubt of the
material covered in this course thus far (in Spanish).
2. Students will discuss their essays (in Spanish).
3. The facilitator will start the class with a short review (in Spanish).
4. The facilitator will clarify any doubt about the subjects covered thus far in the course (in
Spanish).
5. The facilitator will assign to each group of students an “URL” provided for this
workshop. The groups will discuss their summaries in class of the information on it, and
how does it relate to any subject(s) discuss in the workshop (in English).
6. Students will prepare on the whiteboard the exercises assigned during the workshop by
the facilitator and will discuss them with the rest of the class (in English).
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7. The facilitator will reinforce the concepts discussed in class with additional exercises as
necessary (in English).
8. Students will continue working on their portfolios and insert all the documents written
and/or completed so far, following the guidelines of portfolio elaboration.
9. Students will hand in the portfolio to the facilitator for its partial evaluation.
10. The groups present their final projects (in Spanish).
11. The student will write a reflective diary to react critically about the concepts, feelings and
related attitudes about the subject matters covered in this workshop (in English).
Assessment
Each student will be assessed based on:
1. Appendix A rubric for class participation.
2. Appendix D for the URL discussion.
3. Appendix E for the reflective diary.
4. Appendix M for the portfolio.
5. Appendixes B and C for the evaluation of the final project.
6. Appendix Q for the final project.
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Anejos/Appendices
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Anejo A/Appendix A
Rubric for evaluation of class participation
Name: __________________________ Date: __________________
Criteria Value Points Student
Score
Comments
Content
Contributions and
participation in the class
1 point
Demonstrate interest in the
class
1 point
Answer questions to the
facilitator and fellow students.
1 point
Make questions related to the
topic of the course
1 point
Prepared in the class 1 point
Contribute with additional
material.
1 point
Initiative and creativity 1 point
Language
Use correct pronunciation 1 point
Read and explains concepts
using appropriate grammar,
syntax and verb usage
1 point
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Address the class to present
information in a clear
interesting way.
1 point
Total score 10 points
( 70%
content and
30%
language)
_____________
Total score
Student’s Name: _______________________
Facilitator’s Signature: ________________________
Note: The score obtained by the student should be recorded as follows:
• Excellent: 1.00 point
• Good: 0.75 point
• Fair: 0.50 point
• Needs improvement: 0.25 point
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Anejo B/Appendix B
Matriz de valoración de la presentación oral
Integrantes del grupo _______________________________________________
Curso: ______________________ Fecha: ________________________
Tema: _______________________ Tiempo: ________________________
Criterios Valor Puntaje obtenido
Presentación
Mantiene la atención de toda la audiencia
utilizando el contacto visual directo, y mirando
las notas raramente.
1 punto
Los movimientos son adecuados y ayudan a la
audiencia a visualizar el contenido de la
presentación.
1 punto
El estudiante demuestra estar relajado y
tranquilo, sin hacer errores.
1 punto
El estudiante utiliza una voz clara con Buena
proyección y entonación.
1 punto
El estudiante demuestra un conocimiento
completo al responder todas las preguntas con
explicaciones y elaboraciones.
1 punto
El estudiante presenta la información en una 1 punto
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secuencia lógica e interesante la cual la
audiencia puede seguir sin problema.
Demuestra una actitud fuerte y positiva acerca
del tema durante toda la presentación.
1 punto
Lenguaje
Demuestra habilidad en el manejo del idioma
español estándar (vocabulario, sintaxis y flujo
de ideas).
1 punto
Usa una pronunciación correcta durante la
presentación.
1 punto
El nivel de formalidad de la presentación es
adecuada a la naturaleza de la misma.
1 punto
Total 10 (70% contenido
y 30% lenguaje)
___________
Puntaje Total:
El nombre del estudiante: ______________________________
Firma del facilitador: _________________________
Nota: La puntuación obtenida por el estudiante será como sigue:
• Excelente: 1.00 punto
• Buena: 0.75 punto
• Razonable: 0.50 punto
• Nesecita mejorar: 0.25 punto
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Anejo C/Appendix C
Matriz de valoración del trabajo escrito
Integrantes del grupo: ______________________________________________
Curso: ______________________ Fecha: ________________________
Tema: ______________________ Tiempo: ________________________
Criterios Valor Puntaje obtenido
Contenido
La excelente organización realza la claridad y
la comprensión del informe.
1 punto
La relevancia del tema para la clase o la
audiencia es obvia. Es fácil de predecir el
contenido del informe ya que los temas
importantes a discutirse están mencionados
específicamente.
1 punto
Se dan ejemplos claros para apoyar las
oraciones centrales y el propósito general del
informe; el análisis brinda maneras novedosas
para reflexionar en el material; el material
citado está bien integrado; las ideas son
profundas pero no redundantes.
1 punto
El tono del informe es consistentemente
profesional y apropiado.
1 punto
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El escritor elabora conclusiones sucintas y
precisas basadas en la literatura existente. Se
ofrecen sugerencias para futuras
investigaciones.
1 punto
Las referencias provienen de revistas
profesiones y otras fuentes aprobadas. Incluye
numerosas fuentes académicas relevantes
demostrando una investigación extensa y
profunda; se apoya muy poco en fuentes
terciarias de información.
1 punto
Se utiliza precisa y consistentemente el estilo
APA en el informe y en la página de
referencias. Las referencias del listado
concuerdan con las citas en el texto y todas
han sido escritas adecuadamente usando el
estilo APA.
1 punto
Lenguaje
Demuestra habilidad en el manejo del idioma
inglés estándar (vocabulario, sintaxis y flujo
de ideas).
1 punto
Usa la puntuación y la ortografía
correctamente.
1 punto
El nivel de formalidad utilizado es adecuado a 1 punto
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la naturaleza y propósito del documento.
Total 10 (70% contenido y
30% language)
___________
Puntaje Total:
El nombre del estudiante: ______________________________
Firma del facilitador: _________________________
Nota: La puntuación obtenida por el estudiante será como sigue:
• Excelente: 1.00 punto
• Buena: 0.75 punto
• Razonable: 0.50 punto
• Nesecita mejorar: 0.25 punto
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Anejo D/Appendix D
Rubric for the evaluation of:
Oral debate and “URLs” discussions
Name/group______________________________________________________
Topic: __________________________________ Date: __________________
Criteria Value points Student’s score
Content
Introductory content is clear & well stated. 1 point
Identifies and understands all of the
main issues in the case study.
1 point
Well documented, reasoned, and
pedagogically appropriate comments on solutions, or
proposals for solutions, to all issues in the case
study.
1 point
Sentences are cohesive and ideas flow as the analysis
is read.
1 point
Excellent research into the issues with clearly
documented links to class (and/or outside) readings.
1 point
Draw conclusions based on research-based facts only. 1 point
Demonstrate a comprehensive grasp of significant
ideas to reach a higher level of understanding in an
1 point
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organized manner.
Lenguage
Demonstrates a command of standard
English (vocabulary, syntax and flow of ideas)
1 point
The formality level used in the discussion is
appropriate to the nature of the debate.
1 point
Demonstrates good attitude in accepting others’ points
of view and asking/answering questions.
1 point
Total score 10 points
( 70% content
and 30%
language)
_____________
Total score
Student’s Name: _______________________
Facilitator’s Signature: ________________________
Note: The score obtained by the student should be recorded as follows:
• Excellent: 1.00 point
• Good: 0.75 point
• Fair: 0.50 point
• Needs improvement: 0.25 point
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Anejo E/Appendix E
Reflective Diary
Name: _______________________
Date: _______________________
The purpose of this reflective diary is to be able to reflect on the significance of this
course. You should draw on your own experiences for examples of the ideas you are
studying. You can also speculate about how you might apply what you are learning in class.
This process will help in your self-analysis.
At the end of each workshop, you should reflect on the topics presented and answer the
following guide questions.
1. Today I learned ….(express these thoughts in a simple manner and in your own
words)
2. The topic presented in class today helps me to … (reflect in relation with the topics
discussed in class….)
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3. I can apply what was presented in class today to some aspects of my personal life or
to any other past experience …
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Anejo F/Appendix F
Auto evaluación del estudiante
Aspectos generales
� Mi trabajo se entiende claramente y es interesante.
� Mi trabajo incluye material relevante, investigativo e incluye más que un mensaje
general.
� Demuestra que entiendo la materia
� Refleja sustancia lógica y originalidad.
� La información no es limitada ni escasa.
Organización
� La organización de mi trabajo demuestra un tema central o un propósito.
� He organizado mi trabajo y presentación tomando en cuenta la audiencia.
� Mi trabajo tiene secuencia e ideas lógicas.
� Mi trabajo tiene secciones apropiadas, incluyendo introducción y conclusión que
provean al lector una visión general del texto.
Vocabulario
� Utilizo un vocabulario convincente que transmite el mensaje de forma interesante,
precisa y natural.
� Mi trabajo escrito es conciso, utilicé verbos de acción y vocabulario apropiado.
� He considerado al lector y al escribir he utilizado un lenguaje que capte la
atención del lector.
Estructura
� Mis oraciones están bien construidas, con una estructura variada, simple y
compleja, facilitando la lectura.
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� He utilizado buena pronunciación, puntuación.
� Las oraciones tienen fluidez.
� He editado mi trabajo cuidadosamente.
Este instrumento lo puede utilizar el estudiante para evaluar sus tareas y asegurarse de haber
cumplido con los requisitos mínimos.
Traducción: Manual de “Assessment and Evaluation Resource Guide, 1988”.
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Anejo G/Appendix G
Debate rubric
Student name/Group: _______________________________________________
Course: __________________________ Date: ________________________
Criteria Value Points Student Score
Content
Participants offer an in-depth
and solid analysis of the
discussed content and the
dialogue flows smoothly during
the discussion.
1 point
Participants –through their
comments– show deep
knowledge of the discussed topic
and a high level of
understanding of questions
asked by the audience.
1 point
Participants are appropriately
prepared for discussion – with
notes taken from their reading
and passages or textbooks
properly highlighted about the
1 point
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topic in discussion.
Participants, through their
comments, show that they are
paying close attention to what
other participants say about the
topic.
1 point
Participants provide
explanations and follow up to
enrich discussion.
1 point
Participants’ observations are
usually related to ideas or
arguments presented in this
discussion.
1 point
Participants show a professional
attitude and posture during the
discussion.
1 point
Language
Participants show good use of
the standard English language
(vocabulary, syntax and flow of
ideas).
1 point
Participants use appropriate
intonation in making remarks
1 point
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and good projection of the voice
toward the audience.
Given a controversial topic
during discussion, participants
show a persuasive argument to
support their points of view
about it.
1 point
Total 10 points ( 70% content y
30% language)
Total Score:
Student name: ______________________________
Facilitator’s signature: _________________________
Note: The score obtained by the student should be recorded as follows:
• Excellent: 1.00 point
• Good: 0.75 point
• Fair: 0.50 point
• Needs improvement: 0.25 point
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Anejo H/ Appendix H
Guidelines to prepare the portfolio
1. Determination of sources of content
2. The following, but not limited to, documentation will be included:
a. Projects, surveys, and reports.
b. Oral presentations
c. Essays: dated writing samples to show progress
d. Research papers: dated unedited and edited first drafts to show progress
e. Written pieces that illustrate critical thinking about readings: response or
reaction papers.
f. Class notes, interesting thoughts to remember, etc.
g. Learning journals, reflexive diaries.
h. Self assessments, peer assessments, facilitator assessments.
i. Notes from student-facilitator conferences.
3. Organization of documentation
Documentation will be organized by workshop, and by type of assignment within
workshops. Workshops will be separated from one another using construction paper or
paper of different colors, with tabs indicating the workshop number.
4. Presentation of the portfolio
• Documentation will be posted in a binder or in a digital version (e-portfolio).
• The cover page will follow exactly APA guidelines applied to a cover page of
research papers submitted at Metro Orlando Campus. This cover page will be
placed at the beginning of the portfolio.
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• The entire portfolio will follow APA style: Courier or Times New Roman font,
size 12, double space, and 1-inch margins. See a “Publication Manual of the APA,
Fifth Edition”.
• A log of entries that can be expanded with each new entry properly numbered.
The table, which should be located at the beginning, should include a brief
description, date produced, date submitted, and date evaluated (Appendix J).
• Introduction and conclusion of the income and outcome of the portfolio.
• A list of references and appendixes of all assignments included will be added to
the end of the portfolio.
• The Portfolio Informational Sheet will be placed in the transparent front pocket of
the binder for identification purposes (Appendix I).
5. Student-Facilitator Feedback Template: Progression follow-up
The final step in implementing portfolios, before returning them to the student or school
life, is sharing feedback with each student to review the contents, student reflections, and
your evaluations of individual items and all of the work together as related to learning
targets (Banks, 2005).
Facilitators will e-mail a feedback template to all students. This template will contain
information pertaining to weaknesses and strengths found in students’ portfolios
(Appendix M). Facilitators will focus their attention on showing students what is
possible and their progress rather than what is wrong; however, this does not mean that
facilitators will not cover weaknesses and areas for improvement during the conference.
Facilitators will send this feedback template upon completion of workshop one.
Students will also have the opportunity to respond to the facilitator’s feedback and write
their own comments and/or ideas of how to improve the quality of their portfolios, and
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how to become better metacognitive learners on the feedback template. Students will e-
mail the template with their comments back to the facilitator after every workshop.
6. Portfolio storage:
• Portfolio samples will be safely stored for a six-month term on campus.
• Students will sign an official document empowering Ana G. Mendez University
System with rights to use their portfolios with educational or accreditation
purposes during this term (Appendix N).
After this term, and if their authors authorize Ana G. Mendez University System to
discard their portfolios by signing an official document, portfolio samples will be
destroyed; otherwise, they will be returned to their original authors (Appendix O).
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Anejo I/Appendix I
PORTFOLIO INFORMATIONAL SHEET
Sistema Universitario Ana G. Méndez
Universidad del Este, Universidad Metropolitana, Universidad del Turabo
Check one: � Universidad del Este � Universidad Metropolitana � Universidad del Turabo Check one: � Undergraduate � Graduate
Concentration
Student’s Name
Facilitator’s Name
Course:
Portfolio rated as
Reason of this rate
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Anejo J/Appendix J
Log of Entries
Entry Description
Date of Entry
Date
Submitted
Date
Evaluated
Page #
1
2
3
4
5
6
7
8
9
10
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Anejo K/Appendix K: Overall Portfolio Self-Assessment
Dear Student: This form will assist you in monitoring your portfolio and determining the
strengths and weaknesses of your writing
Part I: Read the statements below. Write the numbers that mostly honest reflects your self
assessment (Scale 1-5: 5=strong, 4=moderately strong, 3=average, 2=moderately weak,
1=weak)
_____ 1. My portfolio contains all of the items required by the facilitator.
_____ 2. My portfolio provides strong evidence of my improvement over the course.
_____ 3. My portfolio provides strong evidence of my ability to report factual information.
_____ 4. My portfolio provides strong evidence of my ability to write effectively.
_____ 5. My portfolio provides strong evidence of my ability to think and write creatively.
Part II: On the lines below, write the topic of each assignment. Rate your effort for each
piece (5=strong effort, 1=weak effort). In the space below write one suggestion for
improving that piece.
_____ 1. ___________________________________________________________
___________________________________________________________
_____ 2. ___________________________________________________________
___________________________________________________________
_____ 3. ___________________________________________________________
___________________________________________________________
_____ 4. ___________________________________________________________
___________________________________________________________
_____ 5. ___________________________________________________________
___________________________________________________________
Part III: In assessing my overall portfolio, I find it to be (check one)
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Very satisfactory __________ Satisfactory __________
Somewhat satisfactory __________ Unsatisfactory __________
Part IV: In the space below list your goal for the next PT and two strategies you plan to
achieve.
Goal: _________________________________________________________________
Strategies:
1. __________________________________________________________________
2. __________________________________________________________________
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Anejo L/Appendix L
Checklist for Portfolio Assessment
Has the student set academic goals?
Does the portfolio include enough entries in each area to make valid
judgments?
Does the portfolio include evidence of complex learning in realistic
setting?
Does the portfolio provide evidence of various types of student learning?
Does the portfolio include students’ self-evaluations and reflections on
what was learned?
Does the portfolio enable one to determine learning progress and current
level of learning?
Does the portfolio provide clear evidence of learning to users of the
portfolio?
Does the portfolio provide for student participation and responsibility?
Does the portfolio present entries in a well-organized and useful manner?
Does the portfolio include assessments based on clearly stated criteria of
successful performance?
Does the portfolio provide for greater interaction between instruction and
assessment?
Adapted from:
Gronlund, N. E. (2003). Assessment of student achievement. 7th ed. Boston: Pearson
Education, Inc.
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Anejo M/Appendix M
Portfolio Rubric
4 3 2 1
PORTFOLIO APPEARANCE
� Readable: Are entries typed in an appropriate font and size? Are entries
free of errors? Do ideas expressed in entries follow a logical sequence
with appropriate transitions among paragraphs and topics?
� Professionalism: Is the appearance of the portfolio professional? Are
graphics, colors and portfolio language consistent with professional
workplace expectations? Is the portfolio presented in a neat and orderly
manner?
� Organization: Is the portfolio organized in a manner that makes it easy
to follow and easy to quickly locate information?
PORTFOLIO CONTENT AND FUNCTION
� Content: Are all required entries included in the portfolio? Are entries
relevant to the content of the portfolio? Do all entries contain the
student’s reaction or reflection on the selected topics? Do entries
provide thorough understanding of content? Resume, Activities List,
Varied Samples of Written Work, Evidence of Problem Solving, and
Evidence of Decision Making.
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� Authenticity: Are the samples and illustrations a true reflection of the
student’s efforts and abilities?
� Growth/Development: Do samples provide thorough understanding of
growth and development related to their field of concentration? Do
items show what the student has learned?
� Collaboration: Do items show examples of both individual and group
work? Does the student provide clear understanding of collaboration,
and use collaboration to support his/her learning?
� Reflection and Personal growth: Do items show exceptional
understanding of how to be a reflective thinker and how to seek
opportunities for professional growth? Does the student include self-
reflective comments? Does the student reflect enthusiasm for learning?
� Professional Conduct: Do items show clear understanding of ethical
behavior and professional conduct? Do items display the pride the
student has in his or her work?
Overall Portfolio Impact
� Is this portfolio an asset in demonstrating the student’s value (skills,
abilities, knowledge) to a potential employer or college representative?
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Rating Scale
4 = Outstanding 3 = Very good 2 = Good 1 = Needs improvement
Source: Retrieved from www.lcusd.net/lchs/portfolio/rubric.htm on February 10th, 2007.
Adapted 02/10/2007 by Fidel R. Távara, M.Ed. Coordinator of Assessment and
Placement – Metro Orlando Campus
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Anejo N/Appendix N
Portfolio Assessment Feedback Template
Strengths Weaknesses Improvement Ideas Facilitator’s comments
Student’s response and comments
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Anejo O/Appendix O
Use and Return of Portfolio
Sistema Universitario Ana G. Méndez
Universidad del Este, Universidad Metropolitana, Universidad del Turabo
I, ____________________________________, grant permission to the office of Assessment
and Placement of the Ana G. Méndez University System, to keep in their records a copy of
my portfolio. I understand that the portfolio is going to be used for accreditation or
educational purposes only, and that is not going to be disclosed without my consent.
By signing this document I authorize the office of Assessment and Placement to keep a copy
of my portfolio for six months and return it to me at the end of this period of time.
_______________________________ ___________
Student’s Name (print) Date
_______________________________ ___________
Student’s Signature Date
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Anejo P/Appendix P
Use and Discard of Portfolio
Sistema Universitario Ana G. Méndez
Universidad del Este, Universidad Metropolitana, Universidad del Turabo
I, ____________________________________, grant permission to the office of Assessment
and Placement of the Ana G. Méndez University System to keep in their records a copy of
my portfolio. I understand that the portfolio is going to be used for accreditation or
educational purposes only, and that is not going to be disclosed without my consent.
By signing this document I authorize the Office of Placement and Assessment to keep a copy
of my portfolio for six months and discard it at the end of this period of time.
_______________________________ ___________
Student’s Name (print) Date
_______________________________ ___________
Student’s Signature Date
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Anejo Q/Appendix Q
Analysis and Audit Plan
The objectives of this project are as follows:
1. To acquaint students with the annual report and Form 10-K of a publicly held
company audited by a CPA firm.
2. To provide data for the practical application of certain steps in the audit process.
3. To allow students to experience working in teams, as is done in actual auditing.
Detailed Instructions
1. Form a group of four persons. Discuss how you will organize (assign responsi-
bilities) to complete this project in a suitable format.
2. Obtain a copy of a recent annual report of a publicly held company with stock
actively traded on the New York, NASDAQ or other over-the-counter exchanges.
Answer the following questions:
a. What is the company's industry?
b. What are its primary products?
c. What raw materials does the company use?
d. How large is the company:
� sales
� assets
� employees
e. Where is the company located?
f. What other people/companies are closely associated with this company?
g. Look at the annual report:
� What image does it intend to convey?
� What are the segments and functional contents of the report?
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3. Obtain a copy of the Company's 10-K report for the same date as the annual report.
Answer the following questions:
a. How does the 10-K differ from the annual report?
b. Supplement the answers to the questions under 2 as appropriate.
4. Obtain outside information about the company and its industry. Answer the
following questions:
a. What are the key economic factors about the industry?
b. Where is the company in its life cycle?
c. What are the five or six most important factors for success in this business?
d. How does this company stand with respect to these factors?
e. Describe four or five key business risks related to the client’s business and
industry.
f. What notable accounting considerations are there for companies in this
industry?
g. What legal or regulatory matters are of concern?
h. What social matters are of concern?
5. Analyze the company's financial strength:
a. Assess the financial strength of the company?
b. How is the financial strength likely to change in the next year or so?
c. What are its sources of capital and what is the value of the company's
capital?
d. How have capital markets responded to the company in the last year?
e. What is the quality of earnings?
f. How does the company compare with others in the industry?
6. Prepare a broad audit plan:
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a. What material types of transactions and transaction cycles are involved?
b. What are the high-risk areas?
c. What are the low-risk areas?
d. If management faced tremendous pressure regarding the entity’s financial
performance, what opportunities might exist for them to engage in fraudulent
financial reporting?
e. To what extent do you believe it will be appropriate to reduce assessed
control risk?
f. How will audit effort be allocated among geographical areas?
g. What form of auditors' report do you expect will be issued; what does it
mean?
7. Indicate as an appendix to the report how the project team was organized and how it
functioned on the project.
8. You have to submit a written paper of no more than twenty (20) pages (cover page
and references does not count) and persent your project with a power point in class
during the last workshop.
This project accomplishes several purposes. First, it relates the course content to a real
(although broadly presented) situation. The students get the idea of auditing the business, not
just the books. Students are confronted — some for the first time — with having to obtain,
study, and understand an annual report. They have to think about such things as business risk
and allocation of scarce resources as a decision maker.
Having the project done by teams is an important part of the approach. Audits are done
by teams and auditors must learn to operate successfully in this mode. The team's report
determines the grade for each member of the team, regardless of how the team allocated
effort.