AuditingLaajuus (5 cr)

Objective

The object of the course
During the course, you will learn the basics of auditing, what is required of the auditor, what the prerequisites for acting as an auditor are and how to prepare for an audit situation in a company. After completing this course, you will be aware of the legislation and recommendations governing audit and will be able to describe the key aspects of the audit process. You are familiar with the provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You master the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the audit reporting.

Course competences
Business competence
Ethics competence

The learning objectives of the course
The intended learning outcome is that you master the audit process and are able to substantiate and resolve issues that arise during the course of the audit process.

Content

The contents of the course includes auditing legislation and standards, planning and organisation of an audit, implementation and reporting of an audit, the auditor’s responsibility and quality control, and the special features of different types of companies in terms of auditing and operations inspection.

Qualifications

Basics of financial statements, payroll accounting and business taxation.

Assessment criteria, satisfactory (1)

Adequate 1
You are able to describe some of the key aspects of the audit process. You are aware of the provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You are familiar with a few principal audit methods and are able to apply them in different situations under guidance.

Satisfactory 2
You are aware of the legislation and recommendations governing audit. You are able to describe the key aspects of the audit process. You are familiar with the principal provisions on the auditor’s independence and disqualification and the principal provisions on acting as an inspector of operations. You are familiar with the most common audit methods and their application in customary audit situations. You are able to participate in the audit reporting.

Assessment criteria, good (3)

Good 3
You are able to name the principal legislation and are aware of the principal recommendations governing audit, and are able to describe the main elements of the audit process. You are familiar with the principal provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You are familiar with the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the audit reporting.

Very Good 4
You know the principal legislation and recommendations governing audit and are able to describe the key aspects of the audit process. You are familiar with the provisions on the auditor’s independence and disqualification and the principal provisions on acting as an inspector of operations. You are familiar with the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the principal issues related to audit reporting.

Assessment criteria, excellent (5)

Excellent 5
You know the legislation and recommendations governing audit and are able to describe the key aspects of the audit process. You are familiar with the provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You are familiar with the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the audit reporting and substantiate your opinion.

Materials

Tomperi, S. 2016. Tilintarkastus. Normeista käytäntöön. Edita.
ISA Standardien soveltaminen pk-yhteisöjen tilintarkastuksessa, v 2017 or newer edition, ST-Akatemia
The following acts where applicablw: Tilintarkastuslaki ja -asetus tilintarkastuksesta, Kirjanpitolaki ja –asetus, Osakeyhtiölaki, ISA-standardit, Yhdistyslaki, Laki asunto-osakeyhtiöistä, Osuuskuntalaki

Further information

The course is suitable for current or prospective accounting experts specialising in auditing.