5106 Auditing

Prerequisites

Students should have knowledge of:
· accountancy organisation and systems,
· annual accounts and
· relevant taxation law

Course Objectives

The course will introduce students to the framework conditions for accountancy, accountancy theory and methods as well as ethical issues related to the field. Students will acquire insight into the principal tasks and responsibilities of a public accountant. This will include, amongst other things, a description of the functions of accountancy and its role in society, as well as the methods the accountant uses in his/her work.

Learning Methods

3-4 hours of lectures per week in the autumn and spring semesters. The instruction will focus on theoretical topics and provide practical examples. Practical exercises will also be worked on in some of the lectures.

Course Description

The course presents the framework conditions for accountancy, these are: the accountant’s duties and rights, his/her work and role in society etc; accountancy and ethics: how the accountant should act in various situations; accountancy theory and methods: how to carry out an audit, what an audit involves and audit reporting etc. In this context, the principal laws, regulations and standards for auditors and auditing will be discussed.

Assessment Methods

1-3 obligatory assignments must be submitted. All of the assignments must receive passing marks before students will be permitted to sit the examination. Written examination, 6 hours.
In order to qualify as a registered public accountant candidates must achieve a grade of C or better.

Pensum