Learning outcome

After successfully completing the course, the candidate will have achieved the following learning outcomes defined in terms of knowledge, skills and general competence.

The candidate has/can:

• Knowledge of the auditor’s role as a professional who works in the general public interest, including the need for auditing, the scope of auditing, the scope of a statutory audit and the auditor’s range of services in the private and public sectors
• Knowledge of the legal and professional framework for the auditor’s professional practice
• Knowledge of normative ethical theory and theories relating to morals
• Overall knowledge of the auditor’s responsibilities with respect to equity transactions
• Overall knowledge of performance auditing, compliance auditing and corporate control at national and local levels
• Can apply the framework and code of ethics in practical problem solving
• Undertake and carry out an audit from assessment of the audit job to reporting with a focus on some selected audit areas, including the consideration of whether the auditor in an objective and capable manner; determine and apply materiality to each audit, assessing inherent and control risks, including fraud risk, and determine the audit approach, designing the most efficient test methods and selection; obtain appropriate and sufficient audit evidence; conclude with the audit procedures performed; determine the auditor’s report basis from design; determine other legally required and appropriate reporting to public authorities and management
• Plan and conduct an audit that extends over time, independently and in a team
• Update knowledge in the above mentioned areas of knowledge and skills, and knowledge of other areas within the discipline
• Communicate central subject matter using the relevant forms of expression
• Exchange views and experiences with other professionals and contribute to developing good practice
• Reflect on ethical issues relevant to the field
• View the course in a broader societal perspective

Course Description

The course covers:

• Review of the rules regarding the auditor’s role as a professional who works in the general public interest, including the need for revision, the scope of auditing, the scope of statutory auditing and the auditor’s range of services in the private and public sectors

Students will acquire the ability to / acquire:

• Communicate central subject matter using the relevant forms of expression
• Exchange views and experiences with other professionals and contribute to developing good practice
• View the course in a broader societal perspective
• Become familiar with the legal and professional framework for the auditor’s professional practice
• Undertake and carry out an audit from assessment of the audit job to reporting with a focus on some selected audit areas, including the consideration of whether the auditor functions in an objective and capable manner; determine and apply materiality to each audit, assessing inherent and control risks, including fraud risk, and determine the audit approach, designing the most efficient test methods and selection; obtain appropriate and sufficient audit evidence; conclude with the audit procedures performed; determine the auditor’s report basis from design; determine other legally required and appropriate reporting to public authorities and management
• General knowledge about the auditor’s responsibilities relating to equity transactions
• Overall knowledge of performance auditing, compliance auditing and corporate control at national and local levels
• Knowledge about planning and conducting an audit that extends over time, independently and in a team
• Apply the framework and code of ethics in practical problem solving
• Knowledge of normative ethical theory and theories relating to morals
• Apply the framework and code of ethics in practical problem solving
• Reflect on ethical issues relevant to the field

Teaching and Learning Methods

3-4 hours of lectures during the spring and autumn semester. The instruction will review theoretical topics and related examples. Exercises will be solved in some lectures.

Assessment Methods

• Written examination, 6 hours, graded mark
• Work requirements, mandatory assignments that must be approved in order for the student to take the written examination

In ordered to qualify as a registered public accountant candidates must achieve a grade of C or better.

Minor adjustments may occur during the academic year, subject to the decision of the Dean