Accounting systems and internal control

The course provides insight into challenges related to the processing and entry of transactions and business events, including organization and management of the enterprise, business processes and internal control, with particular emphasis on organizational culture and management from a control perspective. The course also covers the organization, management and quality assurance of accounting activities and generally accepted accounting principles.

Course topics
Corporate governance, risk management and internal control
Organizational culture and internal environment / control environment
ICT in governance and reporting
Fundamental ICT security related to accounting systems
Quality assurance and improvement of governance and accounting routines and internal control
Organization, management and governance of the accounting function / external accounting
Generally accepted accounting principles

Knowledge
The student
- knows the main principles of good corporate governance,
- knows how ethical principles influence organizational behaviour
- has a knowledge of the purpose, the functions and the structure of accounting systems
- has a knowledge of the most important business processes and accounting procedures, including controls related to data capture, processing of accounting data and digital reporting
- has a knowledge of general controls and can reflect on organizational relationships linked with control of digital accounting processes
- has a knowledge of the reasons for outsourcing of accounts, the framework for external accounting and generally accepted accounting principles
- knows the differences between a healthy and an unhealthy organizational culture
- has a knowledge of how personal, organizational and external factors influence attitudes, behaviour and decisions as well as practices, and thus also operational risk
- knows how a code of ethics can be developed and used
- knows the requirements for security and controls in ICT systems

Skills
The student
- can identify, evaluate and understand risk from a management perspective, especially operational risk
- can apply methods for analysis and management of risk, that is, use of the COSO framework, emphasizing elements in the control environment/the internal environment (attitudes of the Board and management to risk and risk management, integrity, ethical values, skills development, organizational structure, delegation of responsibility and authority, etc)
- can apply rules about rights and obligations and the content of generally accepted accounting principles, including regulations on risk (regulations on risk management and internal control) and money laundering legislation
- can design measures to ensure effective internal control

General competence
The student
- can gain up-to-date knowledge within the above areas of knowledge and skill as well as knowledge of other areas within the discipline
- can convey key subject matter through relevant forms of expression
- can exchange points of view and experiences with other professionals and help to develop best practice
- can reflect on ethical issues in the discipline
- can see the course in a broader context from a societal perspective

Lectures. Students must work on their own and in groups with relevant literature, assignments and problem formulations presented in the lectures.