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An International Meeting of 2005 Annual MeetingAugust 7–10, 2005
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Effective Learning Strategies Forum
Wednesday, August 10, 2005
Session 12
Integrating PwC's Auditing Alchemy Case Study into Your Auditing Course: A Project Description and Assessment of Learning OutcomesPresenters:
Robert J. Kollar, Duquesne University
Sharon Green, Duquesne University
Valerie C. Williams, Duquesne UniversityDescription:
Auditing Alchemy is an extensive case developed by PricewaterhouseCoopers for training audit personnel about effective internal control assessment. Specifically, students learn interviewing techniques, walk-throughs, control matrix documentation and mapping of controls to financial statement assertions. These materials were recently distributed to educational institutions throughout the United States for classroom use. We developed a semester-long project integrating many of the case's components. The project is designed to develop students' abilities to make value-added decisions, utilize state-of-the-art technology, and interact with business professionals—three of our department's strategic objectives.We combine instructor-based delivery, guest lectures by PwC personnel, online access to materials, and face-to-face interviews with actors portraying Alchemy personnel. The project culminates in group presentations to a mock audit committee comprised of PwC personnel, members of our Accounting Advisory Board, and accounting faculty. Presentations take place in a simulated boardroom, creating a realistic business environment. The committee ranks presentations and awards certificates to the top three groups. A pre- and post-project questionnaire is being used to assess student learning resulting from the experience. Mock audit committee members will complete a questionnaire capturing their perceptions of student understanding. Results will be available at semester's end and shared with participants during the session.