Auditing

Subject: 2019/2020 - 2S

Programmes

Hours Effectively Taught

LGE3N

LGE3D

Teaching Language

Portuguese

Aims, Skills and Learning Outcomes

DESCRIPTIVE SUMMARY OF CURRICULAR UNIT

The subject of this course is based on the basic subjects of financial audit: concepts, object and objectives of financial audit.
It emphasizes its essential purpose of accrediting financial information disclosed by companies as the cornerstone of economic decision making.
For this purpose, it comprises the study of theoretical foundations and audit practices, such as the process of examination of the accounting documents, carried out in compliance with the principles, methods and techniques of auditing.
It addresses issues related to the knowledge of the entity to be audited and its surroundings, as well as the understanding of the accounting and administrative information and control systems.
It analyzes the theoretical and practical foundations of audit evidence production, audit findings and reports.
The curricular unit was structured in order to provide students with the essential theoretical and practical knowledge.


OBJECTIVES AND EXPECTED RESULTS OF LEARNING

1. Understand the meaning and scope of the audit, the auditor's profession, and auditing standards;
2. Understand the concept, object and objectives of the financial audit and its legal framework;
3. Acquire basic knowledge about the audit method and process;
4. Know and construct the planning of an audit and its interconnection with the organizational structure and internal control system of the audited entity;
5. Understand the method, techniques and procedures of auditing, based on the examination of the financial statements and production of evidence;
6. Analyze and prepare audit reports.


COMPETENCES TO DEVELOP

In the development of the curricular unit, students should be able to:

- Create an understanding of the role of accounting and auditing in the financial reporting process and its accreditation;
- Design and configure the audit process;
- Understand risk analysis and define materiality in auditing;
- Understand the methodologies and techniques of planning and execution of auditing;
- Conduct a survey of the internal control system and refer to the critical aspects;
- Apply audit techniques and procedures in examining the financial statements;
- Extract and describe the conclusions of the audit work;
- Prepare audit reports.

Programme

1. Scope of the audit, profession of auditor and audit standards
2. Concept, object and objectives of the financial audit
3. Audit method and process
4. Concept, fundamentals and analysis of the Internal Control System: administrative and accounting
5. Audit evidence: audit techniques and procedures
6. Audit of financial statements and production of evidence
7. Audit Reports

Demonstration of the syllabus coherence with the curricular unit's learning objectives

The curricular unit was structured to observe the coherence of syllabus versus objectives, namely:
- Scope of the audit, auditor profession and audit standards versus understanding the meaning and scope of the audit, auditor's profession, and audit standards;
- Concept and objectives of the financial audit versus understanding the concept, object and objectives of financial auditing and its legal framework;
- Audit method and process versus acquiring the basic knowledge about the audit method and process;
- Concept, fundamentals and analysis of the Internal Control System: administrative and accounting versus knowing and constructing the planning of an audit and its interconnection with the organizational structure and internal control system of the audited entity;
- Audit evidence: techniques and procedures for auditing and auditing the financial statements and production of evidence versus understanding the audit methodology, techniques and procedures, based on the examination of the financial statements and production of evidence;
- Audit reports versus understanding and preparing audit reports.

Main literature

Supplementary Bibliography

Learning Methods

The teaching / learning methodology is based on the study of the concepts and theoretical foundations of the syllabus, illustrated through the resolution of practical cases. Learning is consolidated by reading the bibliography supporting the course and solving theoretical and practical exercises.
It comprises the study and resolution of practical cases and the elaboration of individual and group written works, and their discussion.
In addition to the recommended literature, students will be provided with supporting texts on the subjects taught and formulation of practical cases through the Sigarra platform.

Assessment Components

Avaliação distribuída com exame final

Assessment Components

Continuous Assessment

Final Exam

Individual written test - 100%

Demonstration of the coherence between the teaching methodologies and the learning outcomes

The methodology of teaching / learning is based on the study of concepts and theoretical foundations of programmatic subjects, illustrated through the resolution of practical cases. Learning is consolidated by reading the bibliography supporting the curricular unit and solving theoretical-practical exercises.
It also includes the elaboration and discussion of group work (case study).
Preparation of individual and group written work.
In addition to the recommended literature, students will be provided with supporting texts on the subjects taught.