Auditing (5 cr)

Evaluation scale

0-5

Objective

The object of the course
During the course, you will learn the basics of auditing, what is required of the auditor, what the prerequisites for acting as an auditor are and how to prepare for an audit situation in a company. After completing this course, you will be aware of the legislation and recommendations governing audit and will be able to describe the key aspects of the audit process. You are familiar with the provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You master the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the audit reporting.

Course competences
Business competence
Ethics competence

The learning objectives of the course
The intended learning outcome is that you master the audit process and are able to substantiate and resolve issues that arise during the course of the audit process.

Content

The contents of the course includes auditing legislation and standards, planning and organisation of an audit, implementation and reporting of an audit, the auditor’s responsibility and quality control, and the special features of different types of companies in terms of auditing and operations inspection.

Materials

Tilintarkastus. Normeista käytäntöön, Tomperi, S. Edita,2018, e-kirja Janet
Tilintarkastaja osakeyhtiön hallinnon tarkastajana, Ruohonen, J. Alma Talent, 2020 (Oline Almatalent )
Tilintarkastuslaki ja asetus tilintarkastuksesta (finlex.fi)
Kirjanpitolaki ja -asetus (finlex.fi)
PMA -asetukset ( finlex.fi)
Osakeyhtiölaki, yhdistyslaki, laki asunto-osakeyhtiöistä ja osuuskuntalaki (finlex.fi)
ISA Standardien soveltaminen pk-yhteisöjen tilintarkastuksessa, v 2017 tai uudempi painos, ST-Akatemia

Teaching methods

Although the course is available in the day offering, the implementation is such that it can also be completed by multiform students.


The studies begin as 2 ECTS credits of online study, which the student can study at their own pace.

Face-to-face learning and exercises
Independent learning assignments
Online learning
Query x 2
Exam x 2

Course 5 ECTS credits.

Employer connections

More exact information on the work placements linked to the course shall be provided by the teacher during the first contact lessons of the course.
Guest lectures

Exam schedules

The exam will be during week 46. The resit exams will be held in January and February 2024.

Completion alternatives

A corresponding course completed in another university may be accredited partially or completely. Competence acquired through informal learning may be recognized and accredited on the basis of competence test. More precise instructions can be found in Degree Regulations and in Study Guide.

Student workload

Allocation of time on various tasks and student work load in total 135h
Lectures and exercises 30 h
Independent study and independent learning assignments, group work 105 h


To be passed need time to stydy weekly.
Independent online learning first and after that lectures.

Theacher guides through lectures and through Moodle.

Assessment criteria, satisfactory (1)

Adequate 1
You are able to describe some of the key aspects of the audit process. You are aware of the provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You are familiar with a few principal audit methods and are able to apply them in different situations under guidance.

Satisfactory 2
You are aware of the legislation and recommendations governing audit. You are able to describe the key aspects of the audit process. You are familiar with the principal provisions on the auditor’s independence and disqualification and the principal provisions on acting as an inspector of operations. You are familiar with the most common audit methods and their application in customary audit situations. You are able to participate in the audit reporting.

Assessment criteria, good (3)

Good 3
You are able to name the principal legislation and are aware of the principal recommendations governing audit, and are able to describe the main elements of the audit process. You are familiar with the principal provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You are familiar with the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the audit reporting.

Very Good 4
You know the principal legislation and recommendations governing audit and are able to describe the key aspects of the audit process. You are familiar with the provisions on the auditor’s independence and disqualification and the principal provisions on acting as an inspector of operations. You are familiar with the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the principal issues related to audit reporting.

Assessment criteria, excellent (5)

Excellent 5
You know the legislation and recommendations governing audit and are able to describe the key aspects of the audit process. You are familiar with the provisions on the auditor’s independence and disqualification and the provisions on acting as an inspector of operations. You are familiar with the principal audit methods and are able to apply them to different objects of auditing. You are able to comment on the audit reporting and substantiate your opinion.

Qualifications

Basics of financial statements, payroll accounting and business taxation.

Further information

Exams, surveys, teamwork.

The grade of the course consists of the points accumulated based on the performance