GRA 6230 Internal Auditing

GRA 6230 Internal Auditing

Course code: 
GRA 6230
Accounting and Operations Management
Course coordinator: 
Flemming T. Ruud
Course name in Norwegian: 
Product category: 
Master of Accounting and Auditing
2023 Autumn
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

The course provides a deeper understanding of how internal auditing, active risk management and good internal control may contribute to effective corporate governance, particularly in the interaction between the board and the administration and their tasks and responsibilities. Public auditing and internal auditing in the public sector will also be studied from the same perspective, as well as the purpose of public auditing, which is different from financial auditing of annual accounts.

Learning outcomes - Knowledge

After having completed the course the students will have an understanding of:

  • how internal auditing contributes to an enterprise’s governance, including how internal auditing can examine and ensure that processes function and that the interaction between various functions such as compliance, controlling, quality assurance and risk management, etc. contribute to the enterprise’s effectiveness, by assisting the board and the management with analyses and recommendations to carry out changes.
  • how enterprises use risk management to identify unwanted incidents and handle them, as well as make the most of opportunities.
  • how enterprises build up and use internal governance and control to lead the enterprise in the right direction, prevent and handle risk, and correct unwanted incidents that have occurred.
  • how purposeful and effective governance contributes to improve processes and goal achievement.
  • Recent developments within the mentioned areas.
Learning outcomes - Skills

After having completed the course the students will be able to:

  • analyse and understand the enterprises’ need for structures and processes that are important for purposeful and effective governance and how these structures and processes can help improve processes that contribute to the enterprise’s goal achievement, including how to identify potential for improvement and carry out improvements
  • identify potential risks and analyse them in terms of probability and consequences.
  • design suitable governance and internal control systems to handle risks that have been identified
  • critically relate to descriptions of situations from management and board, including how to examine and confirm / disprove these situations as well as describe required action.
  • design and carry our internal auditing projects that contribute to the enterprise’s achievement of objectives
General Competence

The students will be able to apply acquired knowledge, understand the connections with other related disciplines and understand the meaning of the course’s topics in terms of the enterprise’s needs and goals, and trends in society. It is important that employees see how their attitudes and behaviour have a direct effect on how the enterprise is perceived and considered by society at large.

Course content
  • Corporate governance – understanding the enterprise’s strategies and objectives 
  • Risk management – what impedes fulfilment of the enterprise’s strategies?
  • Internal governance and control
  • Assurance services – verification
  • Internal auditing and auditing in the public sector – methodology and the auditing process
  • Quality assurance, standards and control concepts
  • Relations and collaboration with other auditing functions
  • Analyse the impact of information technology in a digitized world and employ it in the audit including data analytics
  • Communication with board and management – reporting
  • The auditor’s consulting role
  • Organising and management of the auditing function
  • Standards and professional ethics
Software tools
No specified computer-based tools are required.
Additional information

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.


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 specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.


Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Exam category: 
Form of assessment: 
Written submission
Support materials: 
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • Auditor's manual / Offprint without comments
3 Hour(s)
Written examination under supervision.
Exam code: 
GRA 62301
Grading scale: 
Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
Sum workload: 

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.