1. Introduction to the audit of financial statements. - Concept and key language of the audit. - The audit process. - Auditor and management responsibilities in the audit of financial statements. 2. Stages and development of an audit job: Preliminary engagement activities and planning. 3. Planning stages I: Risk assessment. Factors of the entity and its environment relevant to the detection of risks of material misstatements in the financial statements. a) Sectoral, regulatory, and other external factors. b) Nature of the company. c) Selection and application of accounting policies. Objectives, entity strategy, and related business risks that may result in material misstatements. d) Measurement and review of financial performance. 4. Internal Control Analysis. a) Control environment. - Communication and monitoring of integrity and ethical values. - Commitment to competence. - Attributes of entity governance (independence, experience, reputation, etc.). - Philosophy and operating style of management. - Organizational structure. - Allocation of authority and responsibility. - Operations. - Governance structure and ownership. - Types of investments made and planned. - Structure and form of financing. - Human resources policies and practices. b) Entity risk assessment process. - Identification of business risks relevant to financial reporting objectives. - Estimation of the significance of risks. - Assessment of their likelihood of occurrence. - Decision-making regarding actions to respond to these risks. c) Information systems, including related business processes relevant to financial reporting, and communication. d) Control activities relevant to the audit. e) Monitoring of controls. 5. Preliminary Analytical Review: Analytical procedures for assessing the risks of material misstatements in the financial statements, including ratio and trend analysis. 6. Evaluation of fraud risk factors and management's responsibility for fraud. Identification of intentional misstatements, which may be due to: - Fraudulent financial information. - Misappropriation of assets. 7. Determination of materiality in planning (precision level), in the execution of work by areas (tolerable error), and in the report. 7.1 Identification of balances, transactions, and information to be disclosed that are material to assess the risk of misstatements in the financial statements. 7.2 Identification of balances, transactions, and information to be disclosed that exceed the materiality threshold. 7.3. Risk summary matrix. Summary matrix of risks identified through the entity and environmental knowledge process. Assessment of these risks and their relation to possible misstatements in the assertions. Determination of significant risks. 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.

LEARNING ACTIVITIES FACE-TO-FACE CLASSES: REDUCED (WORKSHOPS, SEMINARS, CASE STUDIES): As a counterpart to lectures, in small groups (up to 45 students) teachers can carry out a more practical teaching in which different strategies can be implemented: problem-based learning, cooperative learning, workshops, seminars, etc.). Knowledge is built through interaction and work guided by the students and the teacher. STUDENT INDIVIDUAL WORK: This is the student's individual work outside the classroom and consists of self-study, solving exercises and problems, individual work, etc. METHODOLOGY PRACTICAL LEARNING BASED ON CASES AND PROBLEMS, AND EXERCISE RESOLUTION: In this case, the teacher poses a set of problems that the students must solve. This methodology is usually developed in small groups of students. INDIVIDUAL AND GROUP OR COOPERATIVE WORK WITH THE OPTION OF ORAL OR WRITTEN PRESENTATION: Students complete a project (or several) in a given time frame. INDIVIDUAL AND GROUP TUTORIALS TO RESOLVE DOUBTS AND QUERIES ABOUT THE SUBJECT.