Learning outcomes of the curricular unit (knowledge, skills and competences to be developed by the students)
1. Understand the fundamental concepts of Financial Auditing. 2. Understand the phases of Financial Auditing. 3. Understand the procedures to be adopted by the Auditor in the audit of Financial Statements.
Syllabus
1. Financial audit 1.1. Concept and objectives 1.2. Types of audit 1.3. Audit standards 2. Audit planning 2.1 Knowledge of the entity and its environment 2.2 Understanding of information (accounting) and internal control systems 2.3 Audit risk assessment 2.4 Audit planning 3. Internal control 3.1 Concept and objectives 3.2 Internal control componentes 3.3 Evaluation of internal control 4. Audit evidence 4.1. Concept and importance of evidence 4.2. Credibility of the evidence 4.3. Procedures for obtaining evidence 4.4. Selection of samples for obtaining evidence 4.5. Audit test 4.6. Evidence documentation 5. Audit of financial statements 5.1. Balance sheet 5.2. Statement of results 5.3. Statement of changes in equity 5.4. Statement of cash flows 5.5. Annex 6. Conclusion of audit and reporting (audit) 6.1 Finalization of audit 6.2 Legal Certification of Accounts 6.3. Audit Report
Demonstration of the syllabus coherence with the curricular unit's learning objectives
The programmatic content is consistent with the objectives of the course unit, chapter 1 provides the student to understand the fundamental concepts of Financial Audit. Chapters 2, 4 and 6 enable the student to understand the phases of Financial Auditing. Chapters 3 and 5 allows the student to understand the procedures to be adopted by the Auditor in auditing the Financial Statements.
Teaching methodologies (including evaluation)
The teaching method consists in exposing the international standards as well as the theoretical concepts of auditing, followed by a practical application using exercises. The method of evaluating knowledge in the curricular unit is through the performance of a work and a test. Students who obtain in the continued evaluation a grade of not less than 10 (ten) values will be exempt from examination. In the evaluation by exam there will be no oral test, and only students who in the written test will obtain a grade of 10 (ten) values will be approved. The weights for the two proposed tests for assessment are as follows: Work - 40% Test - 60% The note assignment than 16 (sixteen) values may be conditional to a defense by conducting an oral test, required by the teacher.
Demonstration of the coherence between the teaching methodologies and the learning outcomes
The methodology focuses on the analysis of concrete situations and the content analysis of the legal certification of accounts issued for Portuguese companies, particularly listed companies. Based on the auditing standards, practical cases related to the practice of auditing financial reporting are solved and the various stages and the process followed in planning the audit are identified.
Bibliography (Mandatory resources)
Alves, Joaquim José dos Santos (2015). Princípios e Prática de Auditoria e Revisão de Contas, 1ª Edição, Edições Silabo.
Arens, Alvin A.; Elder, RANDAL J.; BEASLEY, Mark S. (2005). Auditing and Assurance Services - An Integrated Approach, 10th Edition, Boston: Prentice Hall.
Costa, Carlos Baptista (2023). Auditoria Financeira: teoria e prática, 13ª Edição, Lisboa: Rei dos Livros.
