Insegnamento a.a. 2026-2027

The course is structured around the following main topics:

• Statutory auditing framework and professional standards: role of the statutory auditor, audit objectives, professional responsibilities and regulatory context.  

• Audit process and methodology: planning, risk assessment, materiality, audit strategy and audit program.  

• Audit procedures on business cycles: procedures on the main operating cycles, including revenues, purchases and inventory.  

• Internal control systems and business risks: understanding and evaluation of internal controls, identification of financial, operational and compliance risks.  

• Audit evidence and professional judgment: collection and interpretation of audit evidence, documentation of audit work and formulation of audit conclusions.  

• Financial due diligence and advisory engagements: objectives, scope and tools of due diligence, analysis of quality of earnings, net financial position, working capital, normalized results and key transaction risks.  

• Practical cases and professional applications: discussion of business cases, incidents and group assignments aimed at applying audit and due diligence methodologies to professional practice. 

• Describe the objectives, principles and main phases of statutory auditing engagements.  

• Identify the key audit risks and internal control issues affecting the reliability of financial reporting.  

• Explain the main audit procedures applied to significant business cycles and financial statement areas.  

• Recognize the objectives, scope and main analytical tools of financial due diligence and advisory engagements.  

• Summarize the role of audit evidence, professional judgment and documentation in supporting audit and due diligence conclusions.

• Apply audit methodologies and procedures to practical business cases and selected financial statement areas.  

• Analyze financial, operational and compliance risks in audit and transaction-related contexts.  

• Evaluate the reliability of corporate financial information and the adequacy of supporting audit evidence.  

• Prepare preliminary audit and financial due diligence analyses in practice-oriented contexts, including professional conclusions on key findings.  

• Discuss audit and due diligence issues within a team, interacting effectively with other control and governance actors.

• Lectures
• Guest speaker's talks (in class or in distance)
• Practical Exercises
• Individual works / Assignments
• Collaborative Works / Assignments
• Interaction/Gamification

The teaching experience includes face-to-face lectures aimed at presenting the theoretical and methodological foundations of statutory auditing, financial due diligence and advisory engagements. 

The course also includes practical exercises, case discussions and incidents to be carried out in class with the lecturer. These activities allow students to apply the concepts discussed during the course to practical situations, including audit planning, risk assessment, audit procedures on selected business cycles, evaluation of audit evidence and identification of key due diligence findings. 

The learning experience may be enriched by guest lectures and external contributions from professionals and experts, with the aim of exposing students to audit practice, due diligence engagements, corporate transactions, risk management and advisory activities. 

Students are also involved in individual and group assignments focused on the topics covered during the course. Since auditing and due diligence engagements are typically carried out by multidisciplinary professional teams, these activities are designed to develop technical analysis, problem-solving, teamwork and communication skills.

Attending students

With the purpose of measuring the acquisition of the above-mentioned learning outcomes, the assessment of attending students is based on three components:

1. Individual assignments - 20% of the final grade.

Individual assignments are aimed at verifying the students’ ability to apply audit concepts and procedures to practical questions and selected business situations. They contribute to assessing the ability to identify audit issues, interpret financial information and formulate concise professional conclusions.

2. ​​​​​​​Group assignment - 20% of the final grade.

The group assignment is focused on a practical audit, due diligence or advisory case. It is aimed at verifying the students’ ability to analyze corporate financial information, identify financial, operational and compliance risks, prepare preliminary audit or due diligence analyses and present professional conclusions. The assignment also assesses teamwork, communication and problem-solving skills in a professional context. During the development of the assignment, groups may be supported by professionals from the auditing and advisory sector. Detailed instructions are made available on the course website.

3. Written examination - 60% of the final grade. 

The written examination consists of open-ended and/or closed-ended questions and practical cases. It is aimed at assessing the students’ knowledge of statutory auditing principles and methodologies, their understanding of audit procedures and due diligence tools, and their ability to apply professional judgment to practical audit and transaction-related issues. Attending students may take the exam through two partial exams, provided that a passing grade is achieved in both assessments. Alternatively, they may take one general written exam.  

Not-attending students

They are not required to complete individual or group assignments. Their assessment is based on a final written examination, which accounts for 100% of the final grade. Not-attending students are not allowed to take the exam through two partial exams. The written examination is structured to assess the same learning outcomes as those applicable to attending students, with reference to the textbooks and exam materials. It includes open-ended and/or closed-ended questions and practical cases aimed at verifying the students’ knowledge of audit methodologies, due diligence tools and their ability to apply such knowledge to professional contexts.  

The main reference material for the course is:

• International Standards on Auditing (ISA) 

Students wishing to deepen their understanding of the course content may also consult the following textbooks:

• Auditing and Assurance Services (Alvin A. Arens, Randal J. Elder, Mark S. Beasley) 

• Auditing & Assurance Services: A Systematic Approach (William F. Messier Jr., Steven M. Glover, Douglas F. Prawitt) 

• Modern Auditing: Assurance Services and the Integrity of Financial Reporting (William C. Boynton, Raymond N. Johnson) 

• Auditing: A Practical Approach (Robyn Moroney, Fiona Campbell, Jane Hamilton) 

• Principles of International Auditing and Assurance (Rick Hayes, Hans Gortemaker, Philip Wallage) 

Additional teaching materials are made available on the course website, including lecture slides, supplementary readings, practical cases, incidents, assignment instructions and sample examination materials.