ESF:MPF_AUDI Auditing - Course Information
MPF_AUDI AuditingFaculty of Economics and Administration
- Extent and Intensity
- 0/2/0. 5 credit(s). Type of Completion: zk (examination).
- doc. Ing. Jana Vodáková, Ph.D. (lecturer)
doc. Ing. Jana Vodáková, Ph.D. (seminar tutor)
- Guaranteed by
- doc. Ing. Jana Vodáková, Ph.D.
Department of Finance - Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance - Faculty of Economics and Administration
- Timetable of Seminar Groups
- MPF_AUDI/01: Thu 12:00–13:50 P303, J. Vodáková
MPF_AUDI/02: Thu 14:00–15:50 S311, J. Vodáková
- BPF_FIU1 Financial Accounting 1 && BPF_FIU2 Financial Accounting 2
The course "Auditing" follows previous courses related to accounting. (Financial Accounting I and II).
- Course Enrolment Limitations
- The course is only offered to the students of the study fields the course is directly associated with.
The capacity limit for the course is 46 student(s).
Current registration and enrolment status: enrolled: 38/46, only registered: 0/46
- fields of study / plans the course is directly associated with
- Course objectives
- In comparison with the classical concept of audit, which was widely used especially in accounting, today audit intervenes in the area of management of economically active subjects spanning their whole scope. Students will learn about meaning of audit, risks of legal liability of auditors and professional ethics of auditors. The topics will include: theoretical methods of audit, main principles and the auditing process itself involving preparation of a contract, meeting a client, creation of a planning process, testing potential irregularities, and creation of a final audit report, including auditor’s statements and discussion of results of the audit. The course is designed to help students comprehend theoretical basis of audit and acquire methodology of audit in accordance with international rules. At the end of the course students will be able to carry out major audit procedures, assess the client’s risk and compile an audit report.
- Learning outcomes
- Finishing the course students should be able to:
- elaborate a methodology and audit program;
- carry out the main audit procedures;
- assess the risks of the client;
- formulate auditor's opinion and prepare an audit report.
- 1. Historical emergence of the audit and its development. General conditions of the audit profession. The status and scope of the Chamber of auditors.
- 2. A general definition of the audit, its objectives and functions.
- 3. Legal regulations of audit in the Czech Republic.
- 4. Auditing standards, the general concept of ethics, code of ethics Chamber of Auditors of the Czech Republic.
- 5. Preparation of contract and the knowledge of the client (1st phase of the audit).
- 6. Factors affecting activities of the client, the concept of supervisions environ.
- 7. Preparation of schedule and programme of audit (2nd phase of the audit).
- 8. Procedures of preparation and negotiation of schedule of audit.
- 9. Execution of audit (3rd phase of the audit).
- 10. Procedures for selection of samples.
- 11. Closure of audit (4th phase of the audit).
- 12. The content and structure of an auditor’s report, a letter to the management.
- 13. Internal audit, mutual interaction between internal and external audit. Accounting and tax aspects.
- required literature
- Sedláček, J: Základy auditu. Brno: MU ESF, 2011, studijní materiály k předmětu, dostupné online. ISBN 80-210-4168-4.
- MÜLLEROVÁ, Libuše and Vladimír KRÁLÍČEK. Auditing pro manažery, aneb, Jak porozumět ověřování účetní závěrky statutárním auditorem. 3. vydání. Praha: Wolters Kluwer, 2017. 206 stran. ISBN 9788075527684. info
- recommended literature
- MÜLLEROVÁ, Libuše and Vladimír KRÁLÍČEK. Auditing. Vyd. 1. Praha: Oeconomica, 2014. 458 s. ISBN 9788024520186. info
- HAYES, Rick Stephan, J. C. A. GORTEMAKER and Philip WALLAGE. Principles of auditing : an introduction to international standards on auditing. 3rd ed. Harlow, England: Prentice-Hall, 2014. xxi, 714. ISBN 9780273768173. info
- Teaching methods
- Theoretical training and its application within solution of examples relating to audit procedures at seminars.
- Assessment methods
- Exam requirements: 70 % attendance.
Exam form: written exam test.
Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination.
- Language of instruction
- Follow-Up Courses
- Further comments (probably available only in Czech)
- The course is taught annually.
Credit evaluation note: k = 1,25.