Financial Audit II

The learning objectives call for theoretical-practical teaching, with some syllabuses having an eminently theoretical approach and others requiring an appropriate combination of theoretical aspects with practical applications.

Thus, students are encouraged to discuss and solve practical cases that are very similar to real situations in the business context, either individually or in small working groups, thereby encouraging interaction and knowledge sharing.

This course aims to:

– To provide the development of competences for carrying out and understanding the fieldwork of an audit of financial statements, namely in defining objectives and carrying out substantive tests.

– To provide an integrated view of the financial audit process, developing the skills to report the conclusions of the work carried out in the audit report.

– To provide the development of skills for carrying out and understanding the fieldwork of an assurance engagement other than an audit of the accounts.

1. Evidence in auditing

      1.1 Characteristics of evidence

      1.2 Obtaining evidence on assertions and types of tests

2. Substantive procedures by financial information area

     2.1 Net financial resources

     2.2 Purchases and Accounts Payable

     2.3 Inventories

     2.4 Sales and accounts receivable

     2.5 Non-financial investments

     2.6 Financing and financial expenses

     2.7 Equity

     2.8 Other Balance Sheet and Income Statement items

     2.9 Cash Flow Statement headings

     2.10 Financial statement disclosures

3. Other aspects to consider

4. Conclusion of audit work

5. Independent auditor’s report

     5.1 Forming an opinion and reporting on financial statements

     5.2 Relevant audit matters

     5.3 Modifications to the opinion

6. Other communications with those charged with governance or other entities

7. Other assurance work