Financial Auditing I

No requirements.

Expository and resolution and discussion of practical cases.

This curricular unit aims to provide students with theoretical and practical knowledge that will allow them to understand the framework of auditing in organizations, its need and importance for decision-making of different interest groups. It is also intended to provide knowledge about the access and exercise of the profession, the different stages of the audit, the procedures to be developed by the auditors and the audit report.

 At the end of the study, students should 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 techniques that will lead to obtaining the proof and issuing the opinion.

I – Introduction to financial auditing

1.1. Concept and objectives of a financial audit

1.2. Other types of audit

1.3. Evolution of financial audit

1.4. Need and limitations of an audit

II – The role of auditing in organizations

2.1. Its framework in the management of organizations

2.2. Entities subject to statutory audit

2.3. Auditor’s Responsibilities

III – The auditor

3.1. ROC qualification

3.2. Ethics and professional deontology

3.3. Professional organizations

IV – Auditing standards

4.1. Issuing bodies

4.2. Auditing regulations

V – Internal control

5.1. Concept and objectives of internal control

5.2. Internal control system components

5.3. The relationship of internal control with the audit work

5.4. Specific internal control procedures

5.5. Internal control reports

VI – The development of the financial audit work

6.1. The audit evidence

6.2. The working papers

6.3. Audit work phases

6.4. Audit reports

 VI – Audit sampling

7.1. Statistical sampling vs non-statistical sampling

7.2. Testing of controls

7.3. Substantive tests

NAO

Almeida, B. (2022 Manual de Auditoria Financeira – Uma análise integrada baseada no risco, 4ª Edição, Escolar Editora, Lisboa.

Assembleia da República. Lei n.º 140/2015, de 7 de setembro, Diário da República Série I nº 174 – Estatuto da Ordem dos Revisores Oficiais de Contas.

Assembleia da República. Lei n.º 148/2015, de 9 de setembro, Diário da República Série I nº 176 – Regime Jurídico de Supervisão de Auditoria.

Baptista da Costa, C. (2019) Auditoria Financeira – Teoria e Prática, Rei dos Livros, Lisboa, 12ª Edição.

Morais, G. e Martins, I. (2013) Auditoria Interna – Função e Processo; Editora Áreas, 4ª edição.

Baptista da Costa, C. e Alves, G. (2011) Casos Práticos de Auditoria Financeira, Rei dos Livros, Lisboa, 6ª Edição.

Inácio, H. (2013) Controlo Interno – Enquadramento teórico e aplicação prática, Escolar Editora, Lisboa.

The Institute of Internal Auditors (2017), Normas Internacionais Para a Prática Profissional de Auditoria Interna (Normas), disponível em https://na.theiia.org/translations/PublicDocuments/IPPF-Standards-2017-Portuguese.pdf