Course code Ekon3249
Faculty Faculty of Business, Management and Economics
Credit points, number of lectures
Credit points ECTS Credit points Total number of auditorium hours Number of lecture hours Number of seminars and practical work hours Number of student independent work hours
4 6 64 32 32 96
E-courses 2EKO3968: Auditing I
Course annotation The aim of the study course is to introduce to students theoretical basics of audit, to provide an insight into standards that are published by International Federation of Accountants International Auditing and Assurance Standards Board (IFAC IAASB), and also into the norms and regulations of audit in the Republic of Latvia, to introduce to students the aims, methods, planning and documenting of audit. Develop an in-depth understanding of the work of auditors in the process of financial statements audit and develop skills in various methods and techniques in the audit of financial statements, audit planning, documentation, and the acquisition of evidence through practical seminars and independent work.

Course responsible lecturer Ramona Rupeika-Apoga
Results After successful completion of the course, students can show:
1. understanding of the specific requirements and concepts of the audit sector;
2. understanding of the role and application of audit risk analysis in practice;
3. skills in applying different audit methods and techniques for analyzing the information presented in the financial statements;
4. Understanding the role and use of the Code of Ethics for Professional Accountants in the accounting and auditing sector and the profession of accountant and auditor;
5. skills in applying audit methods and techniques in examination of accounting estimates;;
6. knowledge and skills in carrying out an examination of individual balance sheet items and profit and loss account.

7. Able to independently analyze the activities of different industries by applying methods of economic information processing;
8. assess risks in the audit of financial statements, using regulatory standards and regulatory enactments;
9. Ability to independently apply various in practice the use of audit methods and techniques;
10. continuously analyze and study financial statement data and information provided and draw conclusions accordingly using the audit methodology.


11. Competences will be assessed in the practical work and examination.
Course plan No Theme Provided hours
1. Audit services market in Latvia. L2, S2
2. Code of Professional Ethics of accountants. L4, S2
3. The objective and general principles of auditing financial reports. L4, S2
4. Audit planning. L4, S2
5. Risks in audit. L4, S2, P2
6. Audit evidence. L4, S2
7. Use of other person 's work in audit. L4, S2
8. Final documents of auditing. L2, S2, P2
9. Auditor`s report. L4, S2
10. Presentation of papers prepared by students. P10

L - lecture, S - seminar,
P - practical work
Requirements for obtaining credit points Visiting of lectures is not obligatory,
Visiting of seminars is obligatory
Mid-term assessment:
1. 2 in-between tests + 2 tests (30%),
2. Self-dependent (home) works (3) (20%),
Final assessment:

Written course test – exam (50%).
Study programmes Economics
Accounting, Analysis and Audit