GRA 6257 Audit Theory and Methodology - RESIT EXAMINATION

GRA 6257 Audit Theory and Methodology - RESIT EXAMINATION

Course code: 
GRA 6257
Accounting, Auditing and Business Analytics
Course coordinator: 
Flemming T. Ruud
Erlend Kvaal
Product category: 
Master of Accounting and Auditing
2017 Autumn
Active status: 
Re-sit exam
Resit exam semesters: 
2017 Autumn
2018 Autumn
Resit exam info

First resit examination was autumn 2016.

Teaching language: 
Course type: 
One semester

The course aims to give students a deeper understanding of the theoretical and methodological basis for the subject area of financial auditing and how it is practised.

Learning outcomes - Knowledge

The students are given an in-depth comprehension of the theoretical and methodological basis for auditing the annual accounts. Internationally established practice based on legislation and standards (particularly IFAC/RS) are discussed in detail.

Learning outcomes - Skills


Learning Outcome - Reflection


Course content
  • Auditing, certification and assurance services and connected auditor tasks
  • The objective of the audit
  • Comprehension of the need for financial audits – legal regulation vs. market mechanisms
  • Acceptance of audit assignments, content and formulation of appointment letter, including an understanding of the company’s activities, legal conditions
  • The role of auditing in a corporate governance perspective
  • The audit process
  • Strategic planning of auditing, auditing of business processes
  • Detailed understanding of materiality and risk assessments, including organizations’ business risk, with consequences for the audit and the audit risk model
  • The auditor’s assessment of the client’s internal control (must be considered in connection with the course Auditing III and IV)
  • Types and combinations of audit evidence for various audit areas
  • Analytical auditing
  • Audit of the sales and collection cycle
  • Samples for testing, random checks and test methods, including the use of statistical random checks
  • Assessment of faults and irregularities, discovered violations of the law, consequences for further auditing and reporting
  • Latent obligations
  • Events after balance sheet date
  • Assessments of the conditions for continued operations
  • Audit of the board’s annual report, management obligations
  • Quality requirements of the audit (including generally accepted auditing standards)
  • The auditor’s reporting to external users, formulation of the auditor’s report, types of auditor’s reports
  • Sanctions against the auditor
Learning process and requirements to students

A combination of lectures, cases, plenary and group discussions. Seminars in smaller groups in which the work (written assignments and active participation) are evaluated.

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 It's learning or text book.

Software tools
No specified computer-based tools are required.

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.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Form of assessment:
Written submission
Exam code:
Grading scale:
Grading rules:
Examination when next scheduled course
100Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • Auditor's manual / Offprint without comments
Exam category:Submission
Form of assessment:Written submission
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • Auditor's manual / Offprint without comments
Duration:3 Hour(s)
Exam code:GRA62571
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam organisation: 
Ordinary examination
Total weight: 
Talis literature


Authors/Editors Year Title Edition Publisher StudentNote
Arens, Alvin A.; Elder, Randal J.; Beasley, Mark S.; Hogan, Chris cop. 2014 Auditing and assurance services: an integrated approach 15th ed Pearson Kapitlene 1-3 og 5-17 og 24.
Beasley, Mark S. cop. 2015 Auditing cases: an interactive learning approach 6th ed Pearson  
Den Norske revisorforening Siste utg. Revisors håndbok   Den norske revisorforening Revisjonsstandarder.

No importance set

No type set
Authors/Editors Year Title Edition Publisher StudentNote

Notes to students:

Aktuelle artikler og annet materiale utdelt eller henvist til i forelesningene.

Notes to students:

I løpet av kurset kan det bli delt ut materiale på flere emner som er relevante for kurset og eksamen.