Study Guide

Objective

Students
-know and understand the purpose and content of the auditing process
-know and understand how the audit process is performed and why
- can compile the documents linked to the auditing process
- understand auditing in an associations
- understand how to review the company's sustainability processes

Content

-audit authority
-the auditing process
-auditing documentation
-the audit process
-audit risk
- sustainability auditing

Location and time

Spring 2025

Materials

Current legislation concerning auditing in Finnish companies
International Auditing Standards
Tilintarkastus Normeista köäytäntöön med Soile Tomperi
Intern styrning och kontroll - både lönsamt och säkert (Wikland,)


COSO
Auditing and assurance services (Eilifsen)
Revision (Carrington)

Teaching methods

Lectures
Excercises
Assignments
Exam

Exam schedules

Information about deadlines can be found on the course Moodle-platform

Student workload

135h = 5sp
Lectures 48h
Exercises
Individual studies
Guest speaker

Further information

Active and continuous participation during the course is recommended.
Exercises will be evaluated.

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

Students understand the basic meaning of auditing and can explain which organizations should have audits performed.
The student knows the difference between company auditing and performance auditing in associations.

Assessment criteria, good (3)

The student has a good understanding of the purpose of auditing and knowledge about the Auditing Law.
The student knows the difference between company auditing and performance auditing in associations. The student can perform auditing in an association.

Assessment criteria, excellent (5)

The student can carry out simple audits including documentation and understand the audit process as a whole. Students have an excellent knowledge of relevant Finnish and international Auditing law and Auditing standards.
The student can independently perform auditing in an association and knows the requirements for performing an audit.

Assessment criteria, satisfactory (1-2)

Basic understanding of auditing and knowledge of what kind of organizations are required to perform it
The student knows the difference between company auditing and performance auditing in associations.
Basic understanding of the laws and frameworks regulating internal control.

Assessment criteria, good (3-4)

Good understanding of the purpose of auditing and knowledge about the Auditing Law
The student knows the difference between company auditing and performance auditing in associations.
The student can perform auditing in an association.
Student can perform and evaluate internal control within a company and knows the basic of risk control.

Assessment criteria, excellent (5)

Good ability of auditing in smaller companies, including good understanding of the whole auditing process.
Excellent knowledge of Finnish and international auditing standards
The student can independently perform auditing in an association and knows the requirements for performance auditing.
Student can independently perform and evaluate internal control within a company and is able to identify risk and know the principles for risk management.
Student can explain internal control in an international context.

Qualifications

Financial Accounting and Taxation 15 ects