RE-400 Auditing: Theory and Method (Autumn 2025)

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

• Understand the auditor's fundamental role in capital markets, including society's and stakeholders' expectations of the auditor
• Comprehend auditing in an international perspective, and the background for regulations and the factors shaping the content of modern auditing
• Interpret the content of key international auditing standards (ISAs) used in Norway
• Apply the auditing concept to key transaction classes and account balances
• Assess the risk of material misstatement in the financial statements, including fraud risk
• Have in-depth knowledge of the importance of the entity's internal control for the audit and how the audit can build on internal control
• Plan an audit, identify risks and controls, determine materiality, and devise an effective audit approach
• Understand how audit evidence is obtained, evaluated, and provides a basis for concluding on misstatements in the financial statements
• Understand the actions the auditor takes at the conclusion of the audit
• Gain insight into how the auditor concludes and expresses their opinion on the financial statements of an entity

Lectures and group work. Information will be provided in Canvas at the beginning of the semester. Total workload: 200 hours.

Compulsory assignment must be approved. More information will be provided in Canvas at the beginning of the semester.

4-hour written exam under supervision. Assessment expression: letter grade, A-F.

In consideration of the grade requirements for authorized public accountants, the regular exam for this course is arranged both in autumn and spring.

The course responsible, in consultation with the student representative, determines the evaluation method and whether the courses should have midterm or final evaluations, cf. the quality system chapter 4.1. Information about the evaluation method for the course is published on Canvas.