Università Roma Tre

Nature, functions and limits of auditing
Purpose and subject of the audit. Setting up the revision work. General principles of the audit. Limitations. Audit and similar services.
The Internal Control System
Nature, functions and characteristics of the Internal Control System. The reference models. COSO (Committee of Sponsoring Organizations). Risk assessment models. Enterprise Risk Management: an integrated approach to risk management. Elements of Compliance Management and Risk Management. Elements of Internal Auditing. CoSo Report: ERM and ESG-related risks. Relations between the auditor and the other corporate bodies.
Fundamental elements of the statutory audit
The reference legislation for the statutory audit of accounts. The principles of national and international revision. The legislation on the financial statements and on the group consolidated financial statements. The Consob guidelines. The audit methodology: the operational cycle approach as a reference model in the verification of company information. The internal administrative-accounting control system. The verification of the main business operating cycles.
The concept of significance: measurement; acceptable errors. Quantitative limits of proposed adjustments and reclassifications.
The work documentation.
The responsibility for the statutory audit of accounts. The risks associated with the corporate audit.
Audit evidence of the audit and verification procedures.
The quality of the statutory audit.
The organization of the activity of the auditor. Accounting audit and IT systems. Audit sampling.
Specific details of the statutory audit: business continuity; related parties; accounting estimates and fair value measurements.
Audit procedures
General outline of the audit procedure. An understanding of the company and its operating context. The assessment of the risks of significant errors.
Cash on hand. Financial assets and liabilities. Credits. Inventories left over. Tangible fixed assets. Intangible assets. Investments. Commercial debts. Debts for loans. Accruals and prepayments. Termination indemnity. Derivative financial instruments. Taxes. Provision for risks and charges. Events subsequent to the year end date. Net assets. Income Statement. Financial statement.
The audit report.
Additional duties assigned to the independent auditors.

Testi consigliati
U. MARINELLI, Revisione contabile. Principi e note metodologiche, Giappichelli, Torino, ultima edizione.

Materiale didattico supplementare
Principi di revisione ISA Italia: documenti n. 200 – 210 – 220 – 240 – 250 – 250B – 260 – 265 – 300 – 315 – 320 – 330 – 402 – 450 – 500 – 501 – 510 – 520 – 530 – 540 – 550 – 560 – 570 – 580 – 600 – 610 – 620 – 700 – 701 – 702 – 705 – 706 – 710 – 720 – 720B – Principio internazionale controllo della qualità ISQC (Italia)1
(https://www.revisionelegale.mef.gov.it/opencms/opencms/Revisione-legale/principiRevisione/elencoPrincipiInternazionali/). Codice civile – D.Lgs. 58/1998 Parte IV, Titolo III e Parte V, Titolo I.
“Norme di comportamento del Collegio Sindacale”, a cura del C.N.D.C.E.C., 2015, in (www.CNDCEC.it/AreaIstituzionale/Studi).
“Linee Guida per l’organizzazione del Collegio Sindacale incaricato della revisione aziendale”, a cura del C.N.D.C.E.C., 2012, in (www.CNDCEC.it/AreaIstituzionale/Studi).

Materiale didattico di supporto distribuito dal docente.