Audit of Financial Statements in the Public Sector
Instructor: Дарко Томаш, PhD, Assistant Professor
The purpose of the subject is to enable students to express their opinion on whether the financial statements are, in all important aspects, prepared in accordance with the established framework of financial reporting. One of the goals is to master the skills that will enable students to collect the required amount of evidence for the expression of opinions on the financial statements in the public sector.
|Number of classes per week:
PhD Assistant Professor
|Learning Outcomes (gained knowledge):
||Learning outcomes should provide the ability of a student, future public auditor, to understand the essence of the auditing profession, to master the skills of collecting adequate evidence for the formation of beliefs on the financial statements and to render an opinion based on that; to adopt ethical principles and develop one's own virtues in business such as integrity, professionalism, independence and others.
||General goals of the audit of financial statements in the public sector; International standards and audit statements, assurances and ethics; Methods of performing audits of financial statements in the public sector; Professional prerequisites for obtaining licenses for auditors; Internal control; Internal auditing in the public sector; Access to criminal activities; Application of laws and other regulations in performing the audit; Simulation of practical performance of audit in the public sector; Continuous monitoring of audit regulation changes.
|Teaching Methods and Learning Activities:
||The classes will be conducted in the interaction between teacher, assistant and students in the form of presentations of teaching units, discussions and practical essays.
||Božić, R.; Kondić, N. (2012). Audit of Financial Statements - a Guide through the Practical Audit, third, revised and updated edition. Banja Luka: Faculty of Economics, University of Banja Luka and Finrar;
International standards and statements on auditing, quality control, inspection, other assurances and related services. (2011). Association of Accountants and Auditors of Serbia, Association of Accountants and Auditors of Republic of Srpska and the Institute of Certified Accountants of Montenegro;
IFAC Code of Ethics for Professional Accountants. (2012). Association of Accountants and Auditors of Serbia, Association of Accountants and Auditors of the Republic of Srpska and the Institute of Certified Accountants of Montenegro;
|Types of Assessment for the subject:
||Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)
|Special Remarks for the subject: