Auditing, Auditing Standards and Ethics in Accounting and Auditing


Ár1. ár
ÖnnHaustönn/Fall 2019
Stig námskeiðsÓskilgreint
Tegund námskeiðsValnámskeið
UndanfararEngir undanfarar.
SkipulagEkkert skráð skipulag.
Oddur Ás Garðarsson
The purpose of the course is to provide students with an introduction to the audit according to International Standards on Auditing, to how the Audit is planned and different processes of the stages involved, and to the Code of Ethics. Content: This course covers the fundamentals of auditing. The role of the auditor in the economy will be discussed and how auditing should be performed according to standards on auditing issued by the International Federation of Accountants. The following topics and concepts are covered: Auditor independence, rules of ethics and auditor legal responsibilities. Additionally, the following topics will also be discussed: audit evidence, internal controls, and audit testing. More specifically test of controls and substantive test will be dealt with in detail with respect to the various accounting processes. Audit reports of various kinds will also be analyzed to explain the circumstances under which they are provided.
Knowledge: Collection of facts, concepts, theories and techniques acquired by students. The student should: - Have a basic understanding of auditing and the auditing process. - Have a basic understanding of auditing standards and their application. - Understand the role of auditors, conflicts of interest and ethical issues in auditing. - Be familiar with audit reports. Skills: The ability to apply knowledge to different tasks in the context of auditing. The student should: - Have a basic understanding on how to plan the auditing process - Be able to identify the relevant auditing standards - Be able to provide appropriate audit documentation regarding basic audit procedures. Competences: The ability to apply knowledge and skills in auditing. The student should: - Be able to take part in a professional discussion on audits, the audit process and auditors’ work and ethics. - Be able to understand basic audit procedures
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