An Exploration Of The Effectiveness Of An Audit Simulation Tool In A Classroom Setting

Abstract

The purpose of this study was to examine the effectiveness of using an audit simulation product in a classroom setting. Many students and professionals feel that a disconnect exists between learning auditing in the classroom and practicing auditing in the workplace. It was hoped that the introduction of an audit simulation tool would help to ameliorate the perceived disconnect. The simulation product selected was Real Audit. Over the course of eight weeks, 22 students enrolled in an Assurance Services class completed five major audit simulation modules: Planning, Accounts Receivable, Accounts Payable, Fixed Assets and Inventory. At the end of the project, students were asked to evaluate the simulation experience. Most students felt that the experience was interesting and helpful in terms of understanding the tasks that an auditor performs. While the majority of students recommended that the simulation should be used in future classes, concerns were expressed about the amount of time that the project consumed.