Auditing I

Teaching results

Learning Outcomes
Auditing is a section that has a national and international standing. The issues that are the subject of auditing are broad and to a large extent it is necessary to use and apply knowledge from other disciplines. The aim of the course Audit 1 is to teach students the basic framework in which statutory audit operates in terms of its position in the economic environment. At the same time, to teach students, through the connection of theory and practical applications, the essence of the audit procedures performed within the auditor‘s initial work. Audit 1 forms the basis for the continuing subject Audit 2.
Knowledge
The subject will gain knowledge of the legal framework applicable to statutory audit. At the same time, he/she will learn to understand the auditor‘s responsibilities from a moral, ethical, and legal perspective. The graduate will gain knowledge of the activities that must be performed in accepting the audit engagement, audit risk assessment and evaluation, and take adequate responses to the identified risk in accordance with the requirements of International Standards on Auditing. At the same time, he/she will master the issues related to audit planning, understanding the importance of the internal control system and determining the level of materiality in accordance with the practical application.
Competences
Following the acquired knowledge, the student is able to solve various model situations related to the variability of the audit environment. The student acquires coherent thinking in connection with the interconnectedness of the problem. Last but not least, the student will have knowledge of the content of audit documentation in relation to the content of the course.