Auditing of the accounts (3cr)

Objective

The student is capable of defining the content and the purpose of auditing, is able to list and analyze the most fundamental aspects of the regulations regarding auditing. The student is able to name the requirements set for an auditor and auditor?s work and is able to apply these requirements to individual cases. The student is able to recognize and define auditor?s responsibilities and the content of an auditor?s work, as well as the various forms of auditor?s reports.
The student is able to read articles in English and to find information from sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.

Content

- Regulations on auditing
- Content of auditing: auditing management, accounting, financial statements and the board of director's report
- Auditor's reports.

Qualifications

- Preparing the Financíal Statements
- Company Law

Assessment criteria, satisfactory (1)

Excellent (5)
The student is capable of defining the content and the purpose of auditing, is able to list and analyze the most fundamental aspects of the regulations regarding auditing. The student is able to name the requirements set for an auditor and auditor?s work and is able to apply these requirements to individual cases. The student is able to recognize and define auditor?s responsibilities and the content of an auditor?s work, as well as the various forms of auditor?s reports.
The student is able to read articles in English and to find information from sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.
The student takes actively part in class room work and discussions.
Good (4-3)
The student is capable of defining the core content and the purpose of auditing, is able to list and analyze the most fundamental aspects of the regulations regarding auditing. The student is able to name the main requirements set for an auditor and auditor?s work and is able to apply these requirements to individual cases. The student is able to recognize and define auditor?s responsibilities and the content of an auditor?s work in its main aspects, as well as the various forms of auditor?s reports.
The student is able to read articles in English and to find information from sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.
The student takes actively part in class room work and discussions.

Satisfactory (4-3)
The student is capable of defining the core content and the purpose of auditing, is able to list and analyze the most fundamental aspects of the regulations regarding auditing. The student is able to name the main requirements set for an auditor and auditor?s work. The student is able to recognize and define auditor?s responsibilities and the content of an auditor?s work in its main aspects, as well as the various forms of auditor?s reports.
The student is able to read articles in English and to find information from given sources in English. The student understands the international nature of the field and knows the meaning of international standards and practices. The student knows the major international organizations of the field.
The student takes part in class room work and discussions.

Materials

- Auditing Act and Decree (2007)
- Companies Act (2006)
- Horsmanheimo - Kaisanlahti - Steiner: Tilintarkastuslaki - kommentaari
- KHT-Media Oy: Tilintarkastusalan kertomukset ja lausunnot (latest edition)
- other material as informed by the instructor

Teaching methods

- lectures and guided practice
- independent work