The aim of this course is to train students in the practical application of financial statement auditing. Students will understand the complete audit process, from risk-based planning to the issuance of the final audit report. They will develop skills to analyze the business environment, assess internal control systems, identify risks of material misstatement, and design appropriate audit responses. Additionally, students will acquire competencies to detect fraud risk factors and issue a professional opinion on the true and fair view of the financial statements.

1. Introduction to the audit of financial statements. 2. Stages and development of an audit job: Preliminary engagement activities and planning. 3. Planning stages 4. Internal Control Analysis. 5. Preliminary Analytical Review 6. Evaluation of fraud risk factors and management's responsibility for fraud. I 7. Determination of materiality 8. Auditor's response to assessed risks. 9. Reports: Opinion on whether the financial statements present a true and fair view of the company's financial position.

The course is organised in theoretical and practical sessions. Theoretical sessions are designed to provide the basic concepts needed to solve the accounting problems analysed. Practical sessions are used to discuss exercises and practical cases where basic theorical concepts need to be applied. Students should revise the concepts analysed in every theoretical session and solve the proposed exercises and/or practical cases before they are discussed in the classroom.