| Detailed information |
| Original study plan |
Bachelor's programme International Business Administration 2021W |
| Objectives |
The course aims at providing a basic understanding of the necessity of an independent audit and its role in the corporate governance discussion. It further focuses on the challenges in auditing financial statements in a multinational context, starting with the introduction of the risk-based audit approach and its limitations from a theoretical and practical perspective. It further gives an overview of relevant regulatory requirements on selected topics, e.g., independency, from a national and international perspective.
Students will develop an understanding of the objectives and limitations of financial statements’ audits and will enhance their skills regarding professional skepticism and judgement.
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| Subject |
Clarification of the following basic terms will be covered:
- Basics of auditing process and understanding the four types of audit reports
- Risk-based audit approach – from the engagement’s start until reporting the results of the audit
- Expectation gap
- Selected regulatory requirements regarding performing audits of financial statements, e.g., Public Company Accounting Oversight Board (PCAOB) regulatory requirements
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| Criteria for evaluation |
In-Class Participation, written exam, homework
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| Methods |
The course follows an integrated concept, consisting of theoretical input, practical application of knowledge by solving examples and group discussions. Class participants are asked to prepare further examples for the following lecture as homework by applying the theoretical knowledge presented in the lectures. All examples will then be solved and discussed in class.
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| Language |
English |
| Study material |
- Powerpoint Slides and Examples sold as script
- Additional material (e.g. case studies & further readings) will be provided for download in KUSSS
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| Changing subject? |
No |
