Auditing (MRR220)

This course is an introductory course in auditing at the master's level. It covers the audit process, International Standards of Auditing (ISAs), and the fundamental role of the auditor in the capital markets system.

Course description for study year 2023-2024. Please note that changes may occur.


Course code




Credits (ECTS)


Semester tution start


Number of semesters


Exam semester


Language of instruction

English, Norwegian


This course provides an understanding of an external auditor’s regulatory environment and a framework for developing the skills necessary to work as an auditor, including:

  • the ability to apply the knowledge from this course to developing technical skills in related areas,
  • the ability to analyze relevant professional, research and ethical issues, and
  • demonstrate the ability for critical thinking and reflection.

An auditor is expected to be able to understand how professional problems, processes, decisions, and ethical dilemmas are influenced by stakeholder interests, regulators at both the national and international level and social values, and to review evidence, evaluate its relevance and make decisions that are consistent with the regulatory requirements of the profession. These issues are discussed throughout the course.

An auditor must also posess problem-solving skills that can be used to make decisions in a general business setting. We emphasize these skills during the course.

The course MRR220 may be taught in English or Norwegian. The written exam can be answered in either English or Norwegian.

Learning outcome

Upon successful completion of this course, the student should be able to:


  • Demonstrate good insight into the fundamental role of the auditor in the capital markets system, including insights into societal and stakeholder expectations for auditors
  • Demonstrate a good understanding of the audit process from a global perspective and the role of Norwegian and international regulators in shaping the professional responsibilities of the auditor
  • Demonstrate thorough knowledge of the importance of internal control systems in the audit process, including an understanding of how control systems should be documented and tested


  • Understand and be able to use International Standards of Auditing (ISAs)
  • Utilize key audit concepts, including classes of transactions, account balances and audit assertions
  • Assess the risk of material misstatement in the financial statements, including the risk of fraud
  • Plan the audit process, including identifying risks and controls, determining materiality and defining an audit strategy to be used during an audit
  • Develop a good understanding of how evidence is obtained, evaluated, and used to provide a basis for evaluating whether financial statements have been prepared according to the applicable financial reporting framework
  • Demonstrate an understanding of the audit procedures used by an auditor to conduct an audit
  • Demonstrate insight into how an auditor concludes an audit and determines the appropriate audit opinion for the audit report

Required prerequisite knowledge



Form of assessment Weight Duration Marks Aid
Written exam 1/1 4 Hours Letter grades English-Norwegian dictionary

Coursework requirements

Compulsary assessments

Course teacher(s)

Course coordinator:

Kathrine Hagalid Wold

Course teacher:

Kathrine Hagalid Wold

Study Program Director:

William Gilje Gjedrem

Method of work

The subject has lectures with integrated problem solutions and discussions. Students must participate actively in these activities in order to get the full benefit from the lectures. Students are expected to spend approximately 280 hours completing this course.

Open for

Admission to Single Courses at UiS Business School
Master of Science in Accounting and Auditing Business Administration - Master of Science

Course assessment

There must be an early dialogue between the course coordinator, the student representative and the students. The purpose is feedback from the students for changes and adjustments in the course for the current semester.In addition, a digital course evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.


The syllabus can be found in Leganto