Internal Audit and Controlling

2025/2026

Academic Year

ENG

Instruction in English

Delivered at:

Department of Finance

Course type:

Elective course

When:

2 year, 1 module

Instructor

Яскевич Елена Владимировна

Course Syllabus

Abstract

Risk management, internal control, and audit are fundamental disciplines for modern business professionals. This course is designed to provide basic knowledge and practical skills necessary for effective management of organizational risks and implementation of control systems. And both internal and external audit help the companies achieve their goals using a systematic and consistent approach to assessing and improving the effectiveness of risk management and internal control. The curriculum combines theoretical knowledge with practical applications, covering leading international standards and best practices in risk management, internal control and audit. As occupational fraud is inevitable in today's business world, students will learn to implement effective fraud prevention strategies and develop skills in detecting and mitigating various types of risks. The program also motivates students for obtaining professional certifications in risk management and audit if they find this direction promising for their career. Upon completion, participants will improve their analytical skills and strategic thinking abilities crucial for success in today’s dynamic business environment.

Learning Objectives

• The aim of the course is to provide students with the basic theoretical knowledge and practical skills in internal and external audit

Expected Learning Outcomes

• Demonstrate an innovative, open, and ethical mindset
• Use analytical skills and apply them to solve practical tasks
• Have an idea about the place and the role of internal and external audit in the system of an economic entity management
• Have basic practical skills in internal and external audit
• Get acquainted with evaluation of risks, development on internal controls, process and outcome of internal audit, fraud, organization of external audit, audit materiality
• Use the terms of audit, risks, controls and fraud
• Go through accounting processes and their risks
• Practice audit sampling, test of controls, audit procedures

Course Contents

• Risk management
• Internal control
• Internal audit
• Fraud prevention
• Organization of external audit
• Accounting risks, assertions, audit procedures

Assessment Elements

• Individual in-class test 1 on Risks and controls
  Individual in-class written test 1 on Risks and controls, 25%
• Individual in-class test 2 on Internal audit and fraud prevention
  Individual in-class written test 2 on Internal audit and fraud prevention, 25% of the total grade, open book
• In-class individual test 3 on external audit
  In-class individual written test 3 on external audit, 25% of the total grade, open book
• External audit case study with TeDo
  In class group case study on external audit with TeDo

Interim Assessment

• 2025/2026 1st module
  0.25 * External audit case study with TeDo + 0.25 * In-class individual test 3 on external audit + 0.25 * Individual in-class test 1 on Risks and controls + 0.25 * Individual in-class test 2 on Internal audit and fraud prevention

Bibliography

Recommended Core Bibliography

• 9781472727558 - - - ACCA Approved Study Text Paper F8 Audit and Assurance - 2015 - BPP Learning Media - https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=996685 - nlebk - 996685
• ACCA : audit and assurance (AA), , 2020
• ACCA approved. Practice & revision kit : paper F8. Audit and assurance, , 2017
• ACCA approved. Practice & revision kit : Paper P7. Advanced audit and assurance, , 2017

Recommended Additional Bibliography

• Accounting and Auditing. Бухгалтерский учет и аудит : учебно-методическое пособие / составители Н. С. Кресова, С. Э. Кегеян. — Сочи : СГУ, 2017. — 124 с. — Текст : электронный // Лань : электронно-библиотечная система. — URL: https://e.lanbook.com/book/147876 (дата обращения: 00.00.0000). — Режим доступа: для авториз. пользователей.

Authors

• Iaskevich Elena Vladimirovna
• SOLOVEVA EKATERINA EVGENEVNA