Internal Audit and Control

Basic knowledge in management.

Classes will be presencials, and will be divided into:

1) Theoretical classes

2) Practical classes

3) Case study

4) Exercises

This course aims to provide students with knowledge to understand the framework of Auditing and Internal Controls in associations, its need, its importance for decision-making of various interest groups.

Without final study, students must know the role of the auditor, the indispensability of evidence and the methodology to be followed to plan the work of any type of audit, including financial and apply audit procedures, use working papers and as auditing techniques. sampling that will lead to obtaining proof and issuing an opinion.

Transmit and exercise auditing and internal control methodologies, tools and procedures in order to provide students with the competence to perform their functions efficiently and effectively.

I – Concepts of Audit and Internal Control

1.1. The idea of ​​auditing

1.2. auditing concept

II – The role of auditing in organizations

2.1. Its framework in the management of organizations

2.2. The importance to the various interest groups

2.3. The audit function

2.4. The framework in the various public sector bodies

III – Audit Modalities

IV – The auditor

4.1. Definition and profile of the auditor

4.2. Auditor independence

4.3. professional ethics

4.4. Professional organization of auditors

V – Auditing Standards

5.1. Standard concept and the advantage of standardization

5.2. Auditing and other standards related to the audit object

5.3. Application of standardization in the development of an audit work

5.4. The importance of accounting standards in a financial audit

VI – Sampling Techniques

6.1. Universe or population, sample and sampling concepts.

6.2. Non-statistical sampling.

6.3. Statistical sampling.

VII – Internal control and risk

7.1. Concept, objectives and types of internal and risk control

7.2. The importance of the internal control system

7.3. Internal control limitations

7.4. Errors, Frauds and Irregularities

7.5 Practical issues of internal control and risk

VIII – The development of the audit work

8.1. The audit evidence

8.2. the working papers

8.3. Audit work phases (planning, execution, reporting)

IX – Auditor’s reports

NAO

ALMEIDA, Bruno; Financial Audit Manual. Escolar Publisher; 4th edition: 2022;

COSTA, Carlos Baptista; Financial Auditing – Theory and practice; King of Books, 13th edition; 2023;

PINHEIRO, Joaquim; Internal Audit; A Practical Handbook for Internal Auditors, King of Books; 13th edition, 2013;

MORAIS, Georgina and MARTINS Isabel; Internal Audit – Function and Process; Editora Areas; 4th edition; 2013.

Articles:

Several articles in the recommended technical magazines of the specialty.

Other recommended bibliographies:

Statute of the Board of Chartered Accountants and the Legal Supervision Regime arising from Law No. 99-A/2021 of December 31st.

International Standards on Auditing – IFAC’s ISA’s

International Standards on Auditing – IPPF – IIA Global

COSO – Corporate Risk Management – Integrated with strategy and performance – June 2017

SITES TO CONSULT ON THE INTERNET:

www.oroc.pt; www.theiia.org; www.ifac.org; www.aicpa.org; www.aeca.es; www.cnc.min-financas.pt; www.europa.eu.int; www.intosai.org; www.oroc.pt