Legal issues for auditors

Introduction

The course covers important legal issues that an auditor is expected to be familiar with.

Course content

The course addresses the following topics:

Legal method

• Key concepts
• Legal sources and principles
• The legislative process
• The legal application process

Auditing law

• The auditor's role and the purpose of the audit
• Audit obligation
• Acceptance and continuation assessments
• Confidentiality
• Reporting obligations, including obligations under the Money Laundering Act
• Independence
• The content of the audit and good auditing practice
• Sanctions against the auditor

Insolvency law

• Single prosecution, debt negotiations and bankruptcy
• The bankruptcy process
• The conditions for opening bankruptcy
• Right of seizure in relation to debtor and third parties
• Repudiation and the effects of repudiation
• Contractual obligations, including the right to stop

Accounting law

• Purpose of the annual accounts
• The Accounting Act and generally accepted accounting principles
• Quality requirements, main elements and measurement models
• Basic accounting policies
• Classification and presentation
• Fixed assets and revenues
• Annual Report

Bookkeeping law

• Bookkeeping obligation and purpose
• Basic principles
• Documentation and storage
• Specification of financial reporting