Auditing I

Introduction

This course examines the critical function of assurance services and internal control systems in maintaining the integrity and efficiency of financial markets. Addressing the challenges of information asymmetry, it provides a comprehensive analysis of financial statement auditing, covering the full audit lifecycle—from strategic planning and risk assessment to the evaluation of evidence and final reporting.

Students also analyze internal control frameworks from both management and auditor perspectives, emphasizing the company’s responsibility for establishing robust governance, transparency, and accountability mechanisms.

A central theme of the course is the auditor’s professional mandate. It rigorously explores responsibilities under the International Standards on Auditing (ISA) and Norwegian regulations, focusing on professionalism as an ethical identity defined by integrity, independence, and duty. Furthermore, the course integrates a modern societal perspective by addressing the strategic integration of sustainability. This includes assessing climate-related risks and their impact on materiality and financial reporting, ensuring students understand how environmental limits and long-term resilience factor into the audit process.

Course content

• The demand for assurance and professionalism
• Ethics, liability, and auditor responsibilities
• Internal control and corporate governance
• Audit planning, materiality, and risk assessment
• Audit evidence
• Application of the audit process to business
• Completing the audit and reporting

Disclaimer

This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.