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Lecturer: Klaus Ruhnke


Learning Objectives

This module conveys the abilities which are required for carrying out audits (especially annual audits). The economic problems of auditing and their possible solutions are the main points of this module. Based on theoretical considerations especially regarding the risk model, the sessions will focus on the process of an annual audit as well as other assurance services. After completing this module, the students will have the necessary skills to produce and properly justify the audit opinion as well as to judge the opinion critically, enabling them to recognise and solve any problems appropriately. Emphasis is also placed on the determination of suitable pathways for auditing in complex and unstructured situations.


Economic problems of auditing and their methods of resolution (information as a core element of functioning markets, asymmetric information as a motivation for assurance services, the theoretical foundation of the audit process, access to the auditing profession, professional organisations, auditing norms and the consequences of violating them), the auditing process (risk models, taking on a contract and auditory planning, methods of obtaining audit confirmation using, client acceptance and planning an audit, methods of obtaining audit evidence, IT-audit, fraud and evaluation of the going concern assumption, decision making in auditing and reporting, quality control, further assurance services (systemisation, legally required and voluntary assurance services). The international (especially International Standards on Auditing) and relevant national auditing norms will be covered.





Forms of Teaching and Learning Classrooms Presence in Hours Forms of Active Participation Workload in Hours
Lecture, Tutorial 3 hours per week Discussion of selected issues, opinions on theses, discussion of tutorial assignment on the course content, working on case studies Lecture attendance 30

Preparation and studying of subject matter 45

Tutorial attendance 15

Preparation before and after the tutorials 30

Preparation and taking of exams 30


Language: German or English

Total workload: 150

Module duration: One semester

Module frequency: Every fall semester

Prerequisites: None, however participation in the module “Advanced Financial Accounting” or an equivalent module is strongly advised.