Course Objective

On successful completion of this course, students should be able to:

- Recall and explain major auditing concepts and research findings from
the academic literature and explain their academic contribution and
relevance for the auditing profession (Bridging theory and practice –
knowledge).
- Apply the relevant and adequate auditing concepts to analyze practice
problems (Bridging theory and practice – application).
- Evaluate audit practice problems and formulate adequate solutions,
based on the relevant academic and practice literature (Bridging theory
and practice – application).
- Convey analyses and evaluations of practice problems in a convincing
manner both orally and in writing (Professional social skills).
- Describe the current role of IT, where applicable, for the topics
discussed during this course (Broadening your horizon – IT).
- Have a good understanding of auditor responsibilities for the topics
discussed during this course (Broadening your horizon – Responsibility).

Course Content

The focus of this course is to offer students an in-depth understanding
of a range of topics related to the financial statement audit process
and the various challenges the auditing profession is currently facing,
from both an academic, regulatory and practical perspective. The chosen
topics are the following:

1. Audit quality
2. Auditor independence
3. Risk assessments in auditing
4. Auditor judgment
5. Auditor reporting
6. Emerging issues in assurance services

We primarily use academic papers but also practice literature and
auditing cases to analyse and discuss these topics. After completion of
this course students will have knowledge of a select number of auditing
research streams as well as their applications in practice, and
understand the respective current developments regarding the audit
process and the audit profession.

Teaching Methods

Plenary lectures
Smaller group tutorials

Method of Assessment

Written final exam
Individual assignment(s)
Team assignment(s)

Literature

- A selection of academic and practice papers, to be published on
Canvas.

Recommended background knowledge

Students should have a basic knowledge of the audit process. This can be
accomplished by following the third year bachelor course (ESE)
"Auditing". Alternatively, students should be familiar with the contents
of an introductory auditing textbook, e.g.:
- Hayes, R., H. et al., Principles of Auditing, Pearson Education, [most
recent edition]