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| Detailed information |
| Original study plan |
Bachelor's programme International Business Administration 2025W |
| Learning Outcomes |
Competences |
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| Skills |
Knowledge |
Learning Outcomes
- LO4: Students are familiar with the course of a typical audit process and are able to differentiate between various audit procedures.
- LO5: Students can evaluate and justify the suitability of individual audit procedures in relation to the audit of specific balance sheet items or audit objects.
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Course Objectives
The course covers the following topics:
- Introduction to the basics of financial auditing: theoretical background, objectives and limits of auditing
- Embedding the audit in the economic system and in the corporate governance system (dualistic and monistic board system)
- Introduction to the normative foundations of the professional organization, legal framework and institutional environment
- Presentation of the audit process, acceptance of an engagement, audit procedures, auditor’s reporting
- Risk-orientated audit approach and audit methods
- Audit of specific balance sheet items
- Requirement and systems of Quality assurance in the audit profession
Learning Outcomes
- LO1: Students know the objectives and limits of a financial audit and can differentiate the financial audit from other audits (e.g., audit of sustainability reports)
- LO2: Students know the theoretical background and the role of the audit in the system of corporate Governance.
- LO3: Students are familiar with the normative framework conditions of a financial statement audit in the EU (and Austria).
- LO6: Students are familiar with measures and systems for quality assurance in the audit profession.
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| Criteria for evaluation |
For achieving a passing grade, it is necessary to acquire an overall score of more than 50% of the total points (= 60 points) and 50 % of the final Exam (=30 Points):
| Grading | Max. Points |
| Midterm exam: | 30 points (= 30 minutes) |
| Final exam: | 60 points (= 60 minutes) |
| Assignments: | 20 |
| Total points: | 120 |
| Bonus Assignments | 10 |
| Points | Grade |
| 105-120 | Sehr gut - "very good" |
| 90.5 - 104.5 | gut - "good" |
| 75.5 - 90 | Befriedigend - "satisfactory" |
| 60.5 - 75 | Genügend - "sufficient" |
| 0 - 60 | Nicht genügend - "not sufficient" |
Synchronization of learning outcomes and assessments:
- LO1: assignments/ Case studies + discussion/ evaluation of course participation + midterm and final exam
- LO2: assignments/ Case studies + discussion/ evaluation of course participation + midterm and final exam
- LO3: assignments/ Case studies + discussion/ evaluation of course participation + midterm and final exam
- LO4: assignments/ Case studies + discussion/ evaluation of course participation + final exam
- LO5: assignments/ Case studies + discussion/ evaluation of course participation + final exam
- LO6: 2. final exam
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| Methods |
The content is taught in the form of combined teaching methods.
In the first part of the course, the theoretical foundations and institutional framework conditions of auditing are taught in the form of slide-based lecture units. Smaller exercises (sample calculations/questions) are used to help students grasp individual aspects and the basic methodological approach to assessing audit-specific problems (e.g., assessing aspects of auditor independence requirements).
The second part of the course is dedicated to practical questions on conducting a financial audit. After brief introductions to the topic, students work on tasks (e.g. auditing specific balance sheet items) in small groups. By dividing the group work into project sections with subsequent discussion, a regular exchange between students and lecturers takes place, which enables regular feedback to the students.
The assignments usually have to be completed and handed in during the course. This is followed by a discussion of the solution, which is briefly repeated at the beginning of the following unit.
In summary, the following learning methods are used:
- Information input by lecturers, supported by slides and literature
- Self-directed learning, supported by literature using voluntary exercises and compulsory homework assignments
- Discussions and analyses during the course
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| Language |
English |
| Study material |
Books
Expert report, Audit standards
- International Standards on Auditing (ISA), ISA 240, ISA 315, ISA 500, ISA 505, ISA 700
Additional literature and material
- Power-Point-Slides, Assignments, Examples
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| Changing subject? |
No |
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