RE-400 Auditing 1
- ECTS Credits:
- 7.5
- Responsible department:
- School of Business and Law
- Course Leader:
- Iris Caroline Stuart
- Lecture Semester:
- Autumn
- Teaching language:
- English.
- Duration:
- 1 term
The course is connected to the following study programs
- Master's Programme in Accounting and Auditing
Teaching language
English.Recommended prerequisites
BE-211 Corporate Governance and Accounting
Course contents
This course provides an understanding of the external auditor's regulatory framework and the methodological foundation for exercising auditor profession, including the qualities of a good internal control.
Learning outcomes
Upon successful completion of this course the students should be able to:
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demonstrate solid insight in the auditor's fundamental role in capital markets, including insights to society and stakeholder expectations for auditors
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demonstrate solid understanding of the process of auditing in an international perspective, background for regulation and the factors that shape the content of a modern audit
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to interpret and make use of International Standards of Auditing (ISAs) used in Norway
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make use of the audit concept on key classes of transactions and accounts
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assess the risks of financial statements containing material misstatements, including fraud
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demonstrate a thorough knowledge of the importance of internal control systems for auditing purposes and how the audit can build upon such systems
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plan an audit process, identifying risks and controls, determine materiality and define a appropriate approach to the auditing
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demonstrate a solid insight to how audit evidence is obtained, evaluated and provides a basis for validating financial information
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demonstrate insight to what procedures the auditor follows completing the audit
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demonstrate insight to how the auditor conclude and formulate the opinion on the financial statements, in the audit report
Examination requirements
Approved compulsory assignment. Information will be given in Canvas at the start of the semester.
Teaching methods
Lectures and group work. Estimated workload is about 200 hours.
Evaluation
The person responsible for the course, in consultation with the student representative, decides the method of evaluation and whether the courses will have a midterm- or end of term evaluation, see also the Quality System, section 4.1. Information about evaluation method for the course will be posted on Canvas.
Admission for external candidates
No
Assessment methods and criteria
4-hour written examination with letter grades.
Due to grade requirements for state authorised auditors, a regular examination will be held both autumn and spring.