FACULTY OF BUSINESS
Accounting and Auditing Program
BA 443 | Course Introduction and Application Information
Course Name |
Internal Controls and Internal Audit
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
BA 443
|
Fall
|
3
|
0
|
3
|
6
|
Prerequisites |
None
|
|||||
Course Language |
English
|
|||||
Course Type |
Required
|
|||||
Course Level |
First Cycle
|
|||||
Mode of Delivery | - | |||||
Teaching Methods and Techniques of the Course | Problem SolvingCase StudyQ&ALecture / Presentation | |||||
Course Coordinator | ||||||
Course Lecturer(s) | ||||||
Assistant(s) |
Course Objectives | This course provides essentials of internal controls and internal audit processes based on COSO Framework and International Standards for the Professional Practice of Internal Auditing (ISPPIA). The course is divided in two parts where part I provides insights on internal controls within corporate governance structures, and part II provides an understanding of internal audits. After completing this course, the students will be able to analyse an organisation with a focus on risk exposure and internal control - proposing how the internal auditing process should be designed. |
Learning Outcomes |
The students who succeeded in this course;
|
Course Description | The first part of the course reviews corporate governance and risk management topics and links them to internal controls. Components of internal control, principles of each component and management’s responsibilities related to internal control over financial reporting are all based on COSO Framework. The second part of the course is devoted to internal audit topics such as audit strategy, audit approach, fraud investigation, ethical codes for internal auditors and the stages/components of internal audit field work including planning, interviewing, testing, working papers and reporting. |
|
Core Courses | |
Major Area Courses | ||
Supportive Courses | ||
Media and Management Skills Courses | ||
Transferable Skill Courses |
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
Week | Subjects | Related Preparation |
1 | Introduction to Internal Auditing | Chapter 1 |
2 | The International Professional Practices Framework: Authoritative Guidance for the Internal Audit Profession | Chapter 2 |
3 | Governance and Internal Audit | Chapter 3 |
4 | Risk Management | Chapter 4 |
5 | Business Processes and Risks | Chapter 5 |
6 | Internal Control | Chapter 6 |
7 | Information Technology Risks and Controls | Chapter 7 |
8 | Risk of Fraud and Illegal Acts | Chapter 8 |
9 | Mid-Term Exam | |
10 | Managing the Internal Audit Function | Chapter 9 |
11 | Audit Evidence and Working Papers | Chapter 10 |
12 | Audit Sampling | Chapter 11 |
13 | Conducting the Assurance Engagement Procedures | Chapter 12-13 |
14 | Communicating Assurance Engagement Outcomes and Performing Follow-up Procedures | Chapter 14 |
15 | The Consulting Engagement | Chapter 15 |
16 | Review of the Semester |
Course Notes/Textbooks | Internal Auditing: Assurance and Consulting Services by Kurt F. Reading, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Criss Riddle, 3rd Edition, 2013, The Institute of Internal Auditors Research Foundation |
Suggested Readings/Materials |
EVALUATION SYSTEM
Semester Activities | Number | Weigthing |
Participation |
1
|
5
|
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | ||
Portfolio | ||
Homework / Assignments |
1
|
25
|
Presentation / Jury | ||
Project | ||
Seminar / Workshop | ||
Oral Exams | ||
Midterm |
1
|
30
|
Final Exam |
1
|
40
|
Total |
Weighting of Semester Activities on the Final Grade |
3
|
60
|
Weighting of End-of-Semester Activities on the Final Grade |
1
|
40
|
Total |
ECTS / WORKLOAD TABLE
Semester Activities | Number | Duration (Hours) | Workload |
---|---|---|---|
Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
0
|
|
Study Hours Out of Class |
14
|
4
|
56
|
Field Work |
0
|
||
Quizzes / Studio Critiques |
0
|
||
Portfolio |
0
|
||
Homework / Assignments |
1
|
26
|
26
|
Presentation / Jury |
0
|
||
Project |
0
|
||
Seminar / Workshop |
0
|
||
Oral Exam |
0
|
||
Midterms |
1
|
15
|
15
|
Final Exam |
1
|
25
|
25
|
Total |
170
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
#
|
Program Competencies/Outcomes |
* Contribution Level
|
||||
1
|
2
|
3
|
4
|
5
|
||
1 | To be able to acquire theoretical and practical knowledge and skills in the area. |
|||||
2 | To be able to approach problems with an analytical and holistic viewpoint. |
|||||
3 | To be able to gain knowledge about both national and international accounting and auditing standards. |
X | ||||
4 | To be able to communicate the findings and solutions to the accounting and auditing problems in written and oral formats. |
X | ||||
5 | To be able to critically evaluate the performance of accounting and other related management information systems, and organizations. |
X | ||||
6 | To be able to develop innovative and creative approach to real-life business issues. |
|||||
7 | To be able to integrate knowledge gained in the main areas of accounting and auditing through a strategic perspective. |
|||||
8 | To be able to act in accordance with the scientific and ethical values in studies related to accounting and auditing. |
|||||
9 | To be able to demonstrate both leadership and team-work skills through being an efficient and effective team member. |
|||||
10 | To be able to have an ethical perspective and social responsiveness when evaluating and making business decisions. |
X | ||||
11 | To be able to collect data in the area of business administration and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1). |
|||||
12 | To be able to speak a second foreign at a medium level of fluency efficiently. |
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13 | To be able to relate the knowledge accumulated throughout the human history to their field of expertise. |
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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