Instructor: Дарко Томаш, PhD, Assistant Professor
The main goal of studying this subject is to learn the basic characteristics of the audit process, as well as to understand the international auditing standards, especially those related to the responsibility of auditors, planning of the audit process, collecting evidence and expressing opinions. The system of functioning of internal control as a basis for easier and more reliable auditing is specially addressed. Internal audit is examined as a strong support to the management, and thus providing strong support for external audit.
|Number of classes per week:
PhD Assistant Professor
|Learning Outcomes (gained knowledge):
||Upon completion of this course, the students will be able to understand the essence of the audit as a process, together with all of its components. They will be introduced to all phases of the audit process and with internal control and internal audit as a very significant factor of the enterprises' business success, which have a significant impact on the audit as well. In addition, students will learn about the types of audit reports and their substance.
||Introduction to auditing; Audit market; Ethics for professional accountants; Audit standards; Introduction to auditing process; Client acceptance; Audit planning; Evidence in the audit; Internal control and its components; Reliance on internal control and internal audit in the process of auditing; Evidence tests (first part); Evidence tests (second part); The final phase in the audit process; Reports of an independent auditor.
|Teaching Methods and Learning Activities:
||Lectures, i.e. systematic transfer of knowledge from the literature. During the classes, some of the topics will be discussed or illustrated by various simulations and programs for accounting and auditing. Illustrations and exercises. In addition to examples that will be discussed, the classes will also cover the examples (solving problem tasks) that will be used to illustrate and practice specific topics (collectively and individually). Illustrations and exercises involve two-way communication, and students are invited to freely express their opinions on the case for illustration and exercise. Discussion of case studies. The main form of work will be case studies so that students learn how to use their gained knowledge for practical purposes. Preparation and presentation of the seminar paper with the mandatory application of the Instructions for the preparation of scientific papers.
||Hayes, R.; Schilder, A.; Dassen, R.; Wallage, P. (2002). Principles of Auditing - An International Perspective. Banja Luka: Association of Accountants and Auditors of the Republic of Srpska;
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 the 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: