Internal audit 2600-MSFRdz2rrfAB
1. The essence of auditing
a. The concept of auditing
b. Entities – auditor, auditee
c. Scope, subject – systems, processes, areas
d. Auditing as a process
e. Auditing as an independent evaluation
f. Final product of auditing – opinion, recommendations
2. Types of audit
a. Internal audit vs. external audit
b. Operational audit vs. financial audit
3. Auditor’s work – professional qualifications
a. Certified Internal Auditor
b. statutory auditor (Certified Public Accountant)
4. Internal control
a. Essence
b. Functions
c. Principles
5. Components of the internal control system according to the COSO model
a. Control environment
b. Risk assessment
c. Control activities – procedures
d. Information and communication
e. Monitoring
6. The essence of internal audit
7. Role of internal audit – relationship between internal audit and internal control
8. Internal audit advisory function – supporting management in achieving goals and tasks
9. Risk analysis as a key stage of the audit
10. Audit planning
11. Audit implementation – stages
12. Audit documentation
13. Financial audit – essence, role, key aspects
14. Audit committee as an organ of the supervisory board
15. Forensic investigations – occupational fraud and abuse
Type of course
Mode
Learning outcomes
In terms of knowledge:
• Knows and understands audit terminology (K_W01).
• Knows and understands policies, procedures and practices regarding auditing (K_W02).
• Knows and understands in depth the theories and models on auditing (K_W03).
• Knows and understands in depth the legal regulations on auditing (K_W04).
• Knows and understands complex social, political, legal and economic processes and phenomena and their impact on financial decisions in organizations, as well as the functioning of the organization as a whole (K_W05).
In terms of skills:
• Able to use audit theory to identify, diagnose and solve problems related to financial decisions in organizations, using an appropriate selection of sources and adapting existing or developing new methods (K_U01).
• Can correctly interpret complex social, political, legal and economic processes and phenomena and their impact on financial decisions in organizations and the functioning of organizations, using an appropriate selection of sources (K_U02).
• Has the ability to self-educate, improve acquired skills and support others in this regard (K_U06).
In terms of social competence:
• Is ready to evaluate and critically approach complex situations and phenomena related to auditing (K_K01).
• Is ready to observe and develop professional ethical standards (K_K03).
Assessment criteria
AFinal test:
• closed questions, single-choice questions
• 15 questions – 15 minutes
• during the last class
• Campus platform (own laptop necessary)
Bibliography
Basic bibliography:
• Winiarska K., Audyt wewnętrzny. Teoria i zastosowanie. Wydanie zaktualizowane, Difin, Warszawa 2019.
Supplementary bibliography:
• Dobija D., Audyt finansowy we współczesnych systemach społecznych, Wolters Kluwer Polska SA, Warszawa 2014.
• Kontrola wewnętrzna – zintegrowana struktura ramowa. COSO I, Committee of Sponsoring Organizations of the Treadway Commission, Polski Instytut Kontroli Wewnętrznej, Warszawa 2008.
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: