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.
Gonçalo Rebelo da Silva
Weekly - Available soon
Total - Available soon
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.
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.
• Final Written Exam – 70%
• Participation – 10%
• Individual Homework’s – 20%
The following topics will be covered in the 6 classes:
• Introduction to auditing
• Review of basis of accounting principles
• Format of the financial statements
• Concept of materiality and risk of material misstatement
• Audit planning
• Controls testing
• Substantive testing
• Risk of fraud
• Conclusion and report
Programs where the course is taught: