Auditing

Code:

2GE13

Acronym:

AUD

Keywords
Classification	Keyword
OFICIAL	Management Studies

Instance: 2015/2016 - 2S

Active?	Yes
Responsible unit:	Management
Course/CS Responsible:	Master in Management

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
ME	12	Bologna Syllabus	1	-	7,5	56	202,5
		Syllabus - english track	1	-	7,5	56	202,5
MIM	11	Bologna Official Syllabus	1	-	7,5	56	202,5

Teaching language

English

Objectives

Ensure that all students are acquainted with the auditing process, from the Client Acceptance to the final Report Issuance. Engage students to deeply understand the auditing process through the discussion of relevant issues concerning auditing profession and practice. 

Learning outcomes and competences

By the end of this course students should be able to conduct a basic audit to a company and to understand the most relevant challenges to the auditing profession and practice.

Working method

Presencial

Pre-requirements (prior knowledge) and co-requirements (common knowledge)

none

Program

Part I – Introduction

1.         Accounting, Auditing and Assurance

2.         The auditing profession – Auditor characteristics and Current Challenges

3.         Auditing Standards

4.        The building blocks of Auditing

5.        The integrated audit process – from Client Assessment to Reports

 

Part II - The audit process from the beginning

   Overview of the Audit Process        

   Accepting the client  

   Planning the audit    

   Audit Procedures      

   Understanding the Business           

 

 Part III – Audit Risk

 

1.            Types of Risks

 

2.           Materiality

3.           Audit Risk approach

4.           COSO Model for Integrated Risk Management

 

Part IV – Analyzing and Evaluating Internal Controls

1.          What are internal controls ?

2.          Basic Management Controls Auditing Inventories

a.     Cash and Equivalents

b.     Sales and Accounts Receivable

c.      Purchases and Accounts Payable

d.     Property, Plant and Equipment

e.     Human Resources 

 

Part V – Audit Testing

1.          Tools for collecting evidence

2.          Types of evidence: inquiry and analytical evidence. Substantive tests.

a.     Analytical Procedures

b.     Substantive testing

3.          Accounting Basics, Controls and Tests:

a.     Auditing Cash and Equivalents

b.     Auditing Purchases and Accounts Payable

c.      Auditing Inventories

d.     Auditing Sales and Accounts Receivable

e.     Auditing Property, Plant and Equipment

 

Part  V - Auditing Equity

 

Part VI – Audit Reports

1.           Audit reports on Financial Statements

2.          Qualified and unqualified reports

 

Part VI – Gimmicks and Fraud in Financial Reports

 

Mandatory literature

Audrey A. Gramling, Larry E. Rittenberg, Karla Johnstone; Auditing , 2010. ISBN: AUD 75 [201

Teaching methods and learning activities

This course will be taught using the participative learning approach. In the first classes students will be designated in work groups. Most classes will consist in presentations of themes made by students.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Participação presencial	70,00
Teste	30,00
Total:	100,00

Eligibility for exams

1 Test

Presentations and participation in class debate

Calculation formula of final grade

1 Test (30%)

Class Presentations (60%)

Participation in class debate (10%)