ØARR4400 Auditing Course description

The subject covers methodology of financial statement audits and conduct of external auditors based on professional standards.

The final assessment will be graded on a grading scale from A to E (A is the highest grade and E the lowest) and F for fail.

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We start the course with an introduction to basic theoretical elements needed to understand investment decision rules, corporate policy decisions and capital budgeting/valuation. Then, we move forward to the topic of investment under uncertainty, which provides the main theoretical and methodological insights on portfolio selection, the capital asset pricing model (CAPM model) and the cost of capital. This topic is covered in more depth in the ØABED3500; "Investments" course. The topic of Capital Structure builds on the cost of capital to provide a deep understanding of optimal corporate policy decisions, in regards to capital structure, investment and payout policy, in the presence of market imperfections. We also cover the interlinkages with operating decisions and other investment decisions of the firm by developing the intuition on working capital management, leasing and risk management. The last topic draws on all of the above to cover more advanced valuation with leverage and capital budgeting. This last topic provides the grounds for the ØABED3700/4100; "Valuation" course.

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After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence.

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Knowledge

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After completing this course, students will have

• advanced knowledge of key topics in corporate finance, including; theories, tools and methods within the field,
• deep understanding of the role of corporate finance in society and its interrelations with other disciplines.

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Skills

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After completing this course, students will be able to

• analyze existing theories, methods and interpretations within financial management and work with complex practical and theoretical problem solving,
• analyze and relate critically to various sources of financial information and use these to structure and formulate professional reasoning, and
• set the grounds to carry out an independent, limited research project under supervision (e.g., a sketch of the research proposal for the master thesis).

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General competence

After completing this course, students will be able:

• to apply their knowledge and skills (theory&tools) in new areas to carry out advanced work tasks and projects ("real life" setups),
• to convey extensive independent work as well as to work in teams,
• to communicate about professional issues, analyses and conclusions, both with specialists and to the general public, and
• be aware of new thinking and innovation trends in the field

No additional course-specific requirements.

After completing this course, the student should have the following learning outcome:

Knowledge

On successful completion of this course the student understands:

• the role of technological innovation with regards to consumption, economic growth and sustainable development, health and welfare
• the idea of digital citizenship, including digital rights and responsibilities, from a local, national and global perspective, both in general and in relation with their field of study
• the democratic principles behind e-inclusion and a universally designed society, both in general and with regards to their future professional practice
• the basics of information security, including precautions to guarantee safety and privacy for patients, clients and other technology users and stakeholders
• the basic ideas behind algorithms, and how their use may constrain or enable work processes and other aspects of everyday life the role that technology plays in professional practice within their profession or field of study.

Skills

On successful completion of this course the student can:

• understand the technological and societal aspects of a case in a specific domain
• discuss and present an overview of ethical challenges at the intersection of technology and society, including issues of integration, participation and multiculturalism
• give examples of how technology is used in the profession(s) related to their field of study, both at the national and the international level
• identify, respond to and limit the negative impact of unethical and harmful online behavior
• evaluate the possibilities and challenges of technological solutions used in the profession(s) relevant to their field of study and present those in a structured form
• retrieve information effectively and efficiently from a variety of online sources, critically assess its quality and credibility.

General Competence

On successful completion of this course the student can:

• be a valuable contributor to the design, planning and implementation of new technology
• be a positive agent of change in their own profession and field of study with regards to leveraging the potential of technology for individuals, organizations and the public sector
• participate in innovative processes involving new and emerging technologies and build skills in anticipating and adapting to technological change, and reflect on the human rights, legal, and ethical consequences of these processes
• actively engage with social, ethical and moral issues related to the development and implementation of technology
• reflect on technology use both within their field and from an interdisciplinary perspective
• communicate concepts and models related to technology use in a structured manner, both orally and in written form

The course uses a blended learning approach, with a combination of attendance-based teaching or guidance, and use of online material. The students will be working on interdisciplinary cases of direct relevance to their field of study.

There are weekly seminars throughout the semester, in addition to the online material.

The final assessment/examination is a portfolio assessment, which counts for 100% of the grade.

The portfolio will consist of a choice of three assignments from a set of assignments offered in the course.

The portfolio is assessed as a whole and given a single grade, but all three assignments must be passed in order for the portfolio to receive a grade E or higher.

All assignments should be written in either English or Norwegian.

For assignments that require working in groups, each group may consist of 2-5 candidates.