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ADVANCED AUDITING
Prof. Francesco Bavagnoli
Dott. Massimo Baiamonte
Course Code: EC0042, E0309
Subject code: SSD SECS – P/07
8 ECTS – 64 hours
Location: Novara
Educational aims
The course seeks to provide a thorough knowledge of concepts, principles and techniques of auditing and it intends to provide students with the audit methodology and with the tools to analyze and interpret audit work and reports.
The main objective of the course is to enable students to form an understanding of the principles underlying the theory of auditing and of practical audit approaches and techniques.
Moreover, in the second part of the course specific advanced issues will be addressed such as other assurance services provided by audit firms (due diligence, audit in case of M&A, audit of transfer pricing policies).
Content of the course
This course is divided in two parts.
Part 1 – Audit of the enterprise’s main operating cycles (Prof. Bavagnoli) – 4 CFU
Purpose of audit and audit methodology
Auditing of sales cycle
Auditing of purchase cycle
Auditing of labour cycle
Auditing of production process cycle
Part 2 – Audit procedures – a deeper examination – 4 CFU
Audit evidence and documentation
Audit Opinion: format and contents
Audit of consolidated financial statements
Audit of merger and acquisitions and special assurance services
Going concern
Due diligence
Transfer pricing
Independence, professional ethics and responsibilities of the auditor.
Prerequisites
None
Course Texts
Livatino, Pecchiari, Pogliani, Principi e metodologie di auditing, II edition, EGEA, Milano, 2012. The book is available in the library
Further material (slides, case studies, articles) and information can be found in the web page of the course at the URL:
https://eco.dir.unipmn.it/
Teaching methods
Lectures, exercises, case studies and guest professional speakers.
Class attendance
Class attendance is voluntary (not mandatory).
Examination
A written examination will be performed on the schedule dates.