APPLIES TO ACADEMIC YEAR 2016/2017 Norwegian version

GRA 6279 Auditing, advanced

Responsible for the course
Flemming Ruud

Department
Department of Accounting - Auditing and Business Analytics

Term
According to study plan

ECTS Credits
6

Language of instruction
Norwegian

Introduction
The course assumes the knowledge of GRA 6219 Auditing, theory and methodology and together with this, gives the necessary insight in the theoretical and applied auditing practice. The course is the final course in the mandatory part of MAA and integrates other courses in the program.

Learning outcome
The objective of the course is to deepen the understanding of the theoretical and methodological foundation of auditing and how this is applied in the professional practice of the annual audit of the financial statements. There is particular emphasis on the communication with shareholders through communication with the board and management through different types of reporting, including new requirements of internal control reporting. The course is based on international literature, standards as well as professional practice based on the development of laws and standards (in particular IFAC and Norwegian audit standards). Quality assurance and supervision is covered

Topics to be covered:
- Audit and assurance services
- In-depth understanding of internal control and international requirements of "Internal control over financial reporting"
- In-depth understanding for the auditor's responsibility to discover and report on fraud
- The main elements of the audit process
- Gathering and evaluating audit evidence, understanding how information technology and "big data" influence the audit and how the audit can be supported though IT-tools and statistics
- Introduction to internal auditing - considering the work of internal auditors
- Communication with the management, board and the shareholders
- Issuing the audit report
- Internal and external quality control
- Supervision with the auditors and audit firms and sanctions

Prerequisites

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have spesific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Compulsory reading
Books:
Arens, Alvin A., Randal J. Elder, Mark S. Beasley. 2014. Auditing and assurance services : an integrated approach. 15th ed. Pearson
Gulden, Bror Petter. 2015. Den eksterne revisor. Gyldedal akademisk Revisors håndbok. 9 utg. Den norske revisorforening

Other:
I løpet av kurset kan det bli delt ut materiale på flere emner som er relevante for kurset og eksamen.
Internal Control - Integrated Framework. Committee of Sponsoring Organizations of the Treadway Commission 2013


Recommended reading

Course outline
Audit process, considering the risk of fraud, internal control over financial reporting, internal and IT audit, audit report and communicating with the users, quality assurance

Computer-based tools
Not applicable

Learning process and workload
A course of 6 ECTS credits corresponds to a workload of 160-180 hours.

Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on the course homepage/It's learning or text book.

Coursework requirements

Examination