General Information

90ECTS Credit Program disaggregated in:

• 20 ECTS Credits of Internship
• 64 ECTS Credits of Compolsory Subjects
• 6 ECTS Credit of Master Thesis

Contains the following Modules:

• Auditing and Accounting 40 ECTS Credits
• Rating and financial environment 24 ECTS Credits
• Master Thesis 6 ECTS Credits
• Internship 20 ECTS Credits

Brief description of the modules or subjects, their temporal sequence and skills associated with each of the modules or subjects

MODULE	MATTER	SUBJECT	CREDITS	SEMESTERS	DEPARTMENT
Auditing and Accounting	Auditing	Auditing of statements I: Legal Framework and Standards Auditing.	3 ECTS	1º	EFC II (Accounting)
Auditing and Accounting	Auditing	Auditing of statements II: Working Papers	2 ECTS	1º	EFC II (Accounting)
Auditing and Accounting	Accounting	Financial Accounting	7 ECTS	1º	EFC II (Accounting)
Auditing and Accounting	Accounting	Software Applications	4 ECTS	1º	EFC II (Accounting)
Rating and financial environment	Legal	Business Law	4 ECTS	1º	Business Law
TOTAL 1st SEMESTER			20 ECTS

 

TOTAL 2nd SEMESTER		Internship	20 ECTS	2º
Auditing and Accounting	Auditing	Auditing of statements III: Developing an Auditing of annual accounts	6 ECTS	3º	EFC II (Accounting)
Rating and financial environment	Financial Economics	Finance and investment rating	6 ECTS	3º	EFC III
Rating and financial environment	Financial Economics	financial Mathematics	4 ECTS	3º	EFCI
Rating and financial environment	Financial Economics	business Statistics	4 ECTS	3º	statistics

 

TOTAL 3rd SEMESTER			20 ECTS
Auditing and Accounting	Auditing	Auditing of statements IV: future cash flows accounting valuation areas. Risks to be managed by companies or groups. Technical Auditing Standards. International Standards	7 ECTS	4º	EFC II (Accounting)
Auditing and Accounting	Accounting	Consolidación de estados financieros	4 ECTS	4º	EFC II (Accounting)
Auditing and Accounting	Accounting	Accounting in the Public Sector	3 ECTS	4º	EFC II (Accounting)
Auditing and Accounting	Accounting	Accounting for Management	2 ECTS	4º	EFC II (Accounting)
Auditing and Accounting	Accounting	Análisis financiero	2 ECTS	4º	EFC II (Accounting)
Rating and financial environment	Legal	business taxation	3 ECTS	4º	Applied Economics VI
Rating and financial environment	Generating business value of Auditing	Generation of value in Auditing and consultancy services companies	3 ECTS	4º	EFC III

 

 

Internship Program

ECTS CREDITS: 20
TEMPORARY UNIT: 2nd Semester
Participating companies  in the Internship Program:

• BDO
• Deloitte
• Ernst & Young
• KPMG
• Mazars

Content

• an internship in audit firms
• performing tasks assisting the staff
• acquire experience in the audit
• promote employability 

Prerequisites

• Have complimented 75% of the credits.
• Rating system
• Was graded according to the RD 1125/2003 of 5 September.

Training activities (two types)

• Personalized tutorials or group (200h) and fieldwork in audit firms (300h)
• The virtual campus will serve as a medium for communication with the tutor.

Evaluation

• Assessment of the tutor of the audit: 60%
• Tutor of the University: 40%

Master Thesis

Students, in groups of up to 5 members, simulate the audit of annual accounts. Under the proposed case, the financial information of a business entity and other information it deems necessary will be included (accounting records, chart of accounts, bylaws, articles of incorporation, annual accounts and management report prepared by the Board, etc..) .

Each student group is assigned two teachers. One of them will be monitoring and guiding the work of the groups. The other one will act as the financial officer (CFO) of the audited company. All of the additional information needed throughout the audit process should be required to CFO. This will act as a real work situation, ie, will meet with the auditors and they will send you the requested information. It can also happen that certain information requested is not available, for example, if the entity does not carry a minute book for the meetings of the Board or has not impairment testing.

The appointed supervisor of the group must establish the timetable and the process building of each team. Also in each team there will be a student-coordinator that will be incharge of insuring the flawless communication of the team and the auditing process itself.

the main actions to be taken by the group:

1. Obtaining a general understanding of the client"s business and the industry to which it belongs.
2. System Analysis  of internal control, relevant questionnaires preparation and execution of compliance testing required.
3. Prepare and argue the audit strategy for each of the areas or significant processes identified in the initial phase of the work.
4. Calculation of materiality for purposes of the audit.
5. Draft the planning memorandum justify the sample size and the way / method of obtaining and preparing work programs areas.
6. Develop a general summary that compares with the annual audited accounts and the basis for the analytical tests.
7. Spread the areas to be analyzed by each member of the team and appoint a coordinator, considering the interaction of the areas and creating a system to share the working papers of the other members (there will always be necessary documentation for variaty of areas and competing points of view)
8. Perform substantive and analytical evidence in the work program, graduating the scope thereof in accordance with the results of internal control. (The supervising teacher may reduce sizes to smaller than necessary for reasons of timetable)
9. Development in each member of the audit team must reference the documentation used and incorporated into the working papers, in the numbered references and symbols of the work program. Also the inclusion of cross-references between the various papers will be appropriately . The goal is to have accurate figures documented all considered significant in the context of the annual accounts evidence. The errors that may be detected in each area are transferred to a common sheet adjustments, reclassifications and lack of information / breakdown, for further evaluation of their effects on important report. The sheet template settings delivered with the initial documentation.
10. Develop a memorandum of the same conclusions, once the audit is complete.
11. Calculate the number of materiality for purposes of the report and proceed to the preparation. The report is digitally signed on all pages by the coordinator.
12. Develop an additional memorandum that reveal the internal control weaknesses, identified as a result of audit procedures performed and recommendations to the client for improving the internal control environment.
13. Present and deliver the papers sorted.

Evaluation

• Planification (30%)
• Quality and Clarity of the Paperwork (40%)
• Conclusions (20%)
• Audit report and internal control report based on the findings (10%)