Auditing
Code: 102375Credits: 6
| Degree programme | Type | Course |
|---|---|---|
| Business Administration and Management | OP | 4 |
Contact lecturer
- Name :
- Maria de los Dolores Magri Majos
- Email :
- dolores.magri@uab.cat
Group languages
You can consult this information at the end of the document.
Prerequisites
The subject (audit) has 6 ECTS.
The issue is refered directly with all subjects linked wit accounting and financial matters.
Prior accounting knowledge is required to follow the course.
Objectives
The main objective of this course is for students to acquire the knowledge and skills necessary to professionally develop the procedures required for financial auditing, as well as to analyze and interpret an audit report and gain an in-depth understanding of the different
stages involved in its preparation.
To develop quality professional work, it is essential to acquire a solid foundation of theoretical and practical knowledge in the subjects relevant to the chosen specialty.
In this context, this course aims to ensure that students achieve the following objectives:
- Deepen their knowledge of the main standards governing the preparation of annual accounts.
- Learn about the fundamental legal framework that regulates auditing in Spain.
- Become familiar with the main Technical Auditing Standards - International Standards on Auditing (ISA)
- Study the criteria and regulations for the issuance and interpretation of audit reports.
Learning outcomes
- Capacity to continue future learning independently, acquiring further knowledge and exploring new areas of knowledge.
- Select and generate the information needed for each problem, analyse it and make decisions based on this information.
- A capacity of oral and written communication in Catalan, Spanish and English, which allows them to summarise and present the work conducted both orally and in writing.
- Organise work, in terms of good time management and organisation and planning.
- Demonstrate initiative and work independently when required.
- Use available information technology and be able to adapt to new technological settings.
- Interpret financial indicators of an entity and understand the decisions that can be taken from their analysis
- Students must be capable of collecting and interpreting relevant data (usually within their area of study) in order to make statements that reflect social, scientific or ethical relevant issues.
Contents
The subject comprises 4 sections
Section1. Accounting and Legal Framework for Auditing
- Main accounting standard-setting bodies
- International Financial Reporting Standards (IFRS)
- Concept and nature of accounting principles. Fair presentation.
- Accounting regulations in Spain. Annual accounts
- Basic legal framework for auditing
Section 2. Analysis of Technical Auditing Standards. International standards on auditing adapted for Spain- ISAs (Spain)
- Introduction to International Standards on Auditing (ISAs)
- Development of key adapted standards ISAs (Spain) (NIA-ES)
- Technical Standards for Executing Audit Work:
o Planning Phase: Risk-Based Planning
o Evaluation of Internal Control
o Work Execution Phase: Evidence and Auditor Working Papers
- Technical Standards for isssuing audit reports. ISAs (Spain), 700 Series (Section 4)
Section 3. Execution of work in key areas
- Treasury
- Fixed assets
- Debtors and accounts receivable
- Inventories
- Equity
- Creditors and accounts payable
- Provisions and contingencies
- Taxes
- Subsequent events
Section 4. Audit reports and Quality management standards
- Analysis of ISAs (Spain), 700 Series
- Report structure: opinion, basis for the opinion, key issues, most relevant audit aspects, other.
-Quality management for a financial statement audit- ISA (Spain) 220
- International quality management standards:
. Quality management satandards for audit firms - ISQM1
. Quality review of audit engagements - ISQM2
Learning activities and methodology
| Title | Hours | ECTS | Learning outcomes |
|---|---|---|---|
| exercises | 17 | 0.68 | 1, 2, 5, 6, 7, 8 |
| Independent study, undertanding of concepts and practice of their application | 78 | 3.12 | 1, 2, 3, 4, 5, 6, 7 |
| exam test | 4 | 0.16 | 1, 2, 3, 4, 5, 6, 7, 8 |
| Tutorials on practical cases and teamwork | 15.5 | 0.62 | 1, 8 |
| theory classes | 32.5 | 1.3 | 1, 2, 3, 4, 5, 6, 7, 8 |
Teaching will be carried out in 4 hours per week. During this time, the topics of the program will be developed and accompanied by practical cases.Assessment
Continuous assessment activities
| Title | Weight | Hours | ECTS | Learning outcomes |
|---|---|---|---|---|
| First partial test | 20% | 1 | 0.04 | 2, 3, 4, 7, 8 |
| Work monographic | 20% | 0 | 0 | 1, 2, 3, 4, 5, 6, 7, 8 |
| Final exam | 50% | 2 | 0.08 | 2, 3, 4, 7, 8 |
| Classroom assistance and active participation | 10% | 0 | 0 | 1, 2, 4, 5, 6 |
The completion of assessment activities is subject to the provisions set out in this course guide and in the "Policy of the School of Economics and Business on the Detection of Irregularities during Assessment Activities", which regulates the conditions under which assessment tasks are conducted and the procedures applicable in cases where indications of irregularities are detected. Students are encouraged to consult the policy.
Evaluation system:
The student's grade will be the result of a continuous assessment consisting of the following evidence:
- Attendance and active participation in class (10%)*- Midterm exam - test (20%)- Submission of a specialized essay (20%)- Final exam (50%)
* Two absences of assistance are admitted without justification. With more than three faults without justifying the note of this section will be a 0
The final exam will consist of theoretical questions and practical exercises that will refer to all the subject of the course. The exam will have a duration of 2 and a half hours and in its realization will not be allowed to consult any type of material.
To calculate the average it is necessary to obtain a minimum grade of 4 in the final exam. If a student does not obtain this minimum qualification, it will be considered suspended. This student can take the recovery test if the test score is between 3.5 and 3.9.
The student who does not participate in any evaluation activity will have a \"Not evaluable\".
The student who has not passed the subject is entitled to a recovery exam as long as the average grade of the continuous assessment is between 3.5 and 4.9. If the student passes the recovery exam the maximum grade that will be obtained is a 5.
The examdates will be published in the UAB calendar.
This subject does not ofter the option for comprenshive evaluation
Bibliography
MANUAL AUDITORIA FRANCIS LEFEBVRE- febrero 2024
CASOS PRÁCTICOS AUDITORIA. UN ENFOQUE METODOLÓGICO Y PRÁCTICO.
MANUAL DE AUDITORIA DEL REA
TODO AUDITORIA 2022- CISS- WOLTERS KLUWER
TEORÍA Y PRÁCTICA DE LA AUDITORÍA. CONCEPTO Y METODOLOGÍA. 2021.José Luís Sánchez Fernámdez de Valderrama
PUBLICATIONS AND DOCUMENTATION THAT WILL BE DELIVERED DURING THE COURSE OF THE SCHOOL SESSIONS.
Web links:
- Instituto de Contabilidad y Auditoria de Cuentas (ICAC). http://www.icac.gob.es
- Registro de Economistas Auditores. http://www.rea.es
- Instituto de Censores Jurados de Cuentas de España. http://www.icjce.es
- Col.legi de Censors Jurats de Comptes de Catalunya. htpp://www.auditorscensors.com
- Asociación Española de Contabilidad y Administración de Empresas. htpp://www.aeca.es
- Col.legi d´Economistes de Catalunya. http: //www.coleconomistes.cat
- Registro Mercantil. http://.registradores.org
Software
Course groups and languages
The information provided is provisional until November 30. After this date, you will be able to consult the language of each group through this link. To access the information, you will need to enter the course CODE
| Type of teaching | Group | Language | Semester | Shift |
|---|---|---|---|---|
| (TE) Theory | 1 | Catalan | second semester | morning-mixed |
| (PAUL) Classroom practices | 1 | Catalan | second semester | morning-mixed |