RE-400 Auditing: Theory and Method (Autumn 2023)

Upon successful completion of this course the students should be able to:

• demonstrate solid understanding of the auditor's fundamental role in capital markets, including insights to society and stakeholder expectations for auditors
• demonstrate solid understanding of the process of auditing from an international perspective as well as background for regulation and the factors that shape the content of a modern audit
• to interpret and make use of International Standards of Auditing (ISAs) used in Norway
• apply audit concepts to significant classes of transactions and accounts
• assess the risks of financial statements containing material misstatements, including fraud
• demonstrate a thorough knowledge of the importance of internal control systems for auditing purposes and how the audit can build upon such systems
• plan an audit process, identifying risks and controls, determine materiality and define an appropriate approach to the auditing
• demonstrate a solid insight to how audit evidence is obtained, evaluated and provides a basis for validating financial information
• demonstrate insight regarding procedures the auditor follows completing the audit
• demonstrate insight into how the auditor concludes and formulates the opinion on the financial statements

This course provides an understanding of the external auditor's regulatory framework and the methodological foundation for the profession, including the qualities of a good internal control.

4-hour written examination with letter grades.

Due to grade requirements for state authorised auditors, a regular examination will be held both autumn and spring.