Overview
Lecturer
Adela Socol
Seminar tutor
Adela Socol
Type of course
Compulsory
Language of instruction
English
Erasmus language
English
Domain
Finance
Field of study
Finance and Banks
Form of education
Full-time
Form of instruction
Class
Credit awarded by
Grade
Teaching methods
Lecture, conversation, exemplification.
Entry requirements
-
Aims
The syllabus starts with the nature, purpose and scope of assurance engagements both internal and external, including the statutory audit, its regulatory environment, and introduces governance and professional ethics relating to audit and assurance.
It then leads into planning and risk assessment audit. The syllabus then covers a range of areas relating to an audit of financial statements including the scope of internal control.
These include, evaluating internal controls, audit evidence, and a review of the financial statements. In addition to final review procedures, the final section concentrates on reporting, including the form and content of the statutory audit report.
Course contents
A. Audit framework and regulation
B. Planning and risk assessment
C. Internal control
D. Audit evidence
E. Review and reporting
Learning outcomes
Students will be able to:
• To provide the knowledge needed to understand the mechanism, properties and practical skills to work in finance and accounting.
• The use of specific procedures and techniques
• To understand the audit procedure
• To understand the opinions to be expressed by the auditor
By the end of the course the student should have developed a feel for the basic concepts of auditing. Upon completion of this course the student will be able to:
• Apply International Standards on Auditing and specific techiques
• Understand an auditor’s role in society
Assessment
Exam – 80%; verification during semester – 20%.
Recommended reading
• The International Federation of Accountants IFAC, 2015 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements
• Briciu S., Socol Adela, Ivan R., Tamas A., Puțan A., Topor D., Audit financiar. Aspecte teoretice și aplicații practice, Seria Didactica a Universității "1 Decembrie 1918" Alba Iulia, 2014
• Briciu S., Socol Adela, Rof L., Contribuţii la cunoaşterea şi implementarea unui model de evaluare a riscului de audit, Revista Audit Financiar, editată de CAFR, nr. 6, p. 29-36, 2010