Course title

State Audit

Code

 517

Professor

Prof. Zorica Bozhinovska Lazarevska, Ph.D.

Course objectives (competences):

Upon completion of course instruction and successful passing of the examination, students should be competent for:

• To understand the key aspects of the engagement of state auditors;
• To focus on a more detailed acquaintance with the professional regulation in the state audit (Lima Declaration, Mexico Declaration, INTOSAI Audit Standards and INTOSAI Code of Ethics) and their implementation in the domestic audit practice;
• To gain knowledge about the engagements in the field of performance auditing as a special type of audit engagement with all key phases of its implementation;
• To acquire knowledge that can serve as a solid basis in the preparation of exams for acquiring professional titles in the field of audit profession (certified auditor, certified internal auditor, state auditor, etc.);
• To prepare and actively participate in national and international research projects in the field of state audit.

Course content:

1. Definition, role and importance of the state audit in modern economies;
2. Legal regulation of the state audit in the Republic of Macedonia – Law on State Audit;
3. Professional regulation in the state audit – Declaration of Lima, Mexico Declaration, INTOSAI Audit Standards and INTOSAI Code of Ethics;
4. Planning the audit process;
5. Fundamental concepts of audit: materiality, audit risk and audit evidence;
6. Conducting the audit engagement;
7. Internal controls;
8. Reporting of the conducted audit;
9. Performance Audit;
10. State Audit in the Republic of Macedonia – conditions and perspectives.