Second Semester


Course Objectives

In the past decades, a series of corporate scandals, such as Enron and WorldCom, have shook international markets, challenging both the role of businesses and external auditors. The need to regulate Auditing and Accounting is imperative at global level in order to restore confidence in the financial markets.

The course aims to study the main principles, concepts and techniques related to external audit, as well as to analyze the legal and ethical framework of auditing, in line with the International Standards on Auditing and the Ethical Code of Conduct. The overall purpose of the course is to help understand the social importance of external auditing, and to explain the nature and structure of the audit function. It also aims to present the audit process and the principles governing the audit practice.

Course Description

The course covers the following subjects:

  • Introduction to auditing and selection of auditors.
  • Development and conceptual framework of external auditing.
  • Auditors’ legal and professional duties.
  • Overview of the audit process, audit evidence and documentation.
  • Commencing and planning the audit.
  • Audit sampling and testing of financial statement assertions
  • Internal audit and corporate governance.
  • Auditing of Cash - Transactions.
  • Auditing and identification of falsified financial stateaments.
  • Audit programmes.
  • Completion of the audit process and auditors’ reports.

Suggested Textbooks

  • Σπαθής Χ. και Τσακλάγκανος, Α. (2017). Ελεγκτική. Τρίτη Έκδοση, Αφοι Κυριακίδη Εκδόσεις Α.Ε.
  • ACCA F8 Audit and Assurance study text 2018, BPP Learning Media (ή Kaplan Publishing).


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