Universidade Nova de Lisboa

Universidade Nova de Lisboa

Nova School of Business and Economics

Auditing

Code

2215

Academic unit

null

Department

null

Credits

3,5

Teacher in charge

Gonçalo Rebelo da Silva/Mário Freire

Teaching language

English

Objectives

The course aims to describe and apply the main tools of an audit to the financial statements. Taking advantage of the experience of the facilitators working in one of the "big four" Audit Firms worldwide, the course would provide the main concepts of an audit and apply in practice the methodology in selected cases studies for better understanding the added value of an audit as well as its challenges.

Prerequisites

N/A

Subject matter

  • Week 1 - Introduction to auditing

  • Week 2 - Concept of Materiality and Risk of Material Misstatements

  • Week 3 - Audit planning

  • Week 4 - Audit evidence

  • Week 5 - Conclusions and Reporting

  • Week 6 - Other assurance services

  • Week 7 - Final Exam

    • Bibliography

    The class materials and cases will be provide during the sessions.

    The main bibliography are:

    Alvin Arens, Randal Elder, Mark Beasley (16th Edition, 2016). Auditing and Assurance Services. Pearson.

    2015 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Pronouncements, IAASB (https://www.ifac.org/publications-resources/2015-handbook-international- quality-control-auditing-review-other-assurance

    Brenda Porter, Jon Simon, David Hatherly (4th Edition, 2014). Principles of External Auditing. Wiley Rick Hays, Philipe Wallage, Hans Gortemaker (3rd Edition, 2014). An Introduction to International Standards on Auditing. Pearson.

    Teaching method

    The teaching will be provided in class with support of students computers for practical exercises.

    It will be provided along with basic concepts under International Auditing Standards and the methodology to apply those by performing practical exercises with selected case studies.

    Some of the exercises will be done in groups in order to generate discussions and tentative solutions for particular situations.

    Evaluation method

    The Final Exam is mandatory and must cover the entire span of the course. Its weight in the final grade can be between 30 to 70%. The remainder of the evaluation can consist of class participation, midterm exams, in class tests, etc. Overall, written in class assessment (final exam, midterm) must have a weight of at least 50%.

    The assessment will be provide according to the following:

    • Final Written Exam – 60%

    • Participation – 10%

    • Individual Homework’s – 15%

    • One Group Project – 15%

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