Course ID 17SA44
  • Finance and Banking
Number of classes 2+2
Semester 4
Status Core
The objective of the course is to acquire knowledge in the field of financial statement audit, as a prerequisite for expressing an auditor's opinion on the truthfulness and objectivity of financial statements. Students will became aware of the audit standards and the importance of the professional ethics of the auditor.
After successfully mastering the course, students will be able to:
• define and explain the role and purpose of auditing;
• carry out appropriate audit procedures;
• to express appropriate opinion based on the audit evidence in audit report form.
Theoretical training
• Introduction to financial statement audit;
• Theoretical basis for auditing;
• Professional ethics audit;
• Materiality and audit risk;
• Evidence in auditing;
• The audit process;
• Assessment of the reliability of internal controls;
• The impact of information and communications technology on the audit process;
• Implementation of an audit sample;
• Audit of financial statement positions;
• Final audit;
• Audit reports;
• Internal audit;
• Audit of the consolidated financial statement.
Practical training
• Case studies;
• Research study;
• Discussions.
Andrić, M., Krsmanović, B., & Jakšić, D. (2012). Revizija – teorija i praksa. Bečej: Proleter.

Hayes, R., Schilder, A., Dassen, R., & Wallage, P. (2002). Principi revizije (Međunarodna perspektiva). Banja Luka: Savez računovođa i revizora Republike Srpske.

Međunarodna federacija računovođa. (2007). Međunarodni standardi i saopštenja revizije, uveravanja i etike. Beograd: Savez računovođa i revizora Srbije.

Knapp, M. (2013). Auditing cases. Australia: Cengage learning.
Lectures, interactive practical work, team work
Assessment (maximum number of points 100)
Exam Requirements 55 points Final exam 45 points
Attendance 5 Written exam 45
Ongoing assessment 30 Oral exam  
Class participation 10  
Case study 10    



Practice classes