| Course title | Internal Audit |
| Course code | Ekon5036 |
| Credit points (ECTS) | 3 |
| Total Hours in Course | 81 |
| Number of hours for lectures | 12 |
| Number of hours for seminars and practical classes | 12 |
| Independent study hours | 57 |
| Date of course confirmation | 21/01/2012 |
| Responsible Unit | Institute of Economics and Finance |
| Course developers | |
| Dr. oec., doc. Romēna Šulca |
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| There is no prerequisite knowledge required for this course | |
| Course abstract | |
| Students require knowledge, skills and reflection abilities including the aspects of: Standards for the professional practice of internal auditing, Code of Ethics. Students require theoretical knowledge: terms "internal audit" and "internal control”, thus revealing the broad theoretical discussions, insights and reviews. The main units of analysis are set: definitions of terms, their common and diverse elements; historical development and peculiarities nowadays; advantages of both systems, different models, approaches and methods. A comparative examination of the internal and external auditor. | |
| Learning outcomes and their assessment | |
| After completing the course student will have:
• knowledge on a theoretical risk management guidelines and their role in business process running. Provide knowledge of the risk management process insurance that involves the identification and assessment of risks, selection of the most appropriate risk management measures that comply with the company's risk appetite and risk of government supervision process reviewing the ongoing activities, separate evaluations or combination of both. • Skills - understand that in the market economy conditions, business management and finance inevitably involves risks, which creates the future situation of uncertainty and the possible errors in the company's management decisions. • Competence – acquired theoretical knowledge, practical skills and an understanding that risk management is set of methods, techniques and measures, which to a certain extent can help to predict risks and develop measures to eliminate or reduce their negative effects. |
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| Compulsory reading | |
| 1. Bruna I. Enterprise Internal Audit and Control. Riga: University of Latvia, 2010. p. 166 p.
2. Mālderis G. Grāmatvedība, revīzija, audits. Rīga: Biznesa augstskola Turība, 2008. 140 lpp. 3. Sawyer J.D., Dittenhofer A.M., Scheiner H.J. Sawyer’s Internal Auditing. Altamonte Springs, Florida: The Institute of Internal Auditors, 2005. 1446 p. 4. Sobel P.J. Auditor’s risk managment guide. Intergrating Auditing and ERM. CPA, CIA. Chicago: CCH, 2007. 657 p. |
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| Further reading | |
| 1. Brūna I. Uzņēmumu iekšējā kontrole. Rīga: Latvijas Universitāte, 2004. 82 lpp.
2. Iekšējā audita profesionālās prakses starptautiskie standarti [tiešsaiste]: Rīga: Iekšējo auditoru institūts [skatīts 03.03.2010.]. Pieejams: http://www.iai.lv 3. Šulca R. Latvijas pašvaldību iekšējā audita sistēmas attīstības iespējas. Promocijas darbs. Rīga Jelgava: Latvijas Lauksaimniecības Universitāte, 2010. 237 lpp. 4. Allika I.,Baltača B.,Dunska M. u.c. Ekonomikas un finanšu vārdnīca. Rīga, Norden AB, 2003. 514. lpp. |
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| Periodicals and other sources | |
| 1. Internal Auditor. ISSN 0020-5745. Publ. by Institute of Internal Auditors, Altamonte Springs. 2. Grāmatvedība un Ekonomika. ISSN 1691-1172. | |