course description for Specialized Auditing (Banking, Insurance, NGOs, Multinationals) – typically offered in Year 4, Semester 8 of a BBA in Auditing:

Specialized Auditing (Banking, Insurance, NGOs, Multinationals)

Course Code: BBA-AUD 501
Credit Hours: 3
Semester Offered: Year 4 – Semester 8

Course Description

This course focuses on auditing specialized organizations including banks, insurance companies, non-governmental organizations (NGOs), and multinational corporations. Students will explore the unique regulatory environments, accounting standards, internal controls, and risk management frameworks that apply to these entities. The course emphasizes practical auditing procedures and case studies, preparing students to handle audits in complex, regulated, or global business settings.

Course Objectives

By the end of the course, students should be able to:

1. Understand the specific auditing requirements for banking, insurance, NGOs, and multinational organizations.

2. Evaluate internal controls, risk management, and compliance frameworks in specialized sectors.

3. Apply auditing standards and procedures to complex or regulated entities.

4. Analyze financial statements and records specific to these organizations.

5. Prepare audit reports reflecting sector-specific findings and recommendations.

6. Appreciate ethical and professional challenges in specialized auditing environments.

Learning Outcomes

Upon completion, students will be able to:

• Conduct audits tailored to the operations of banks, insurance firms, NGOs, and multinationals.

• Assess sector-specific risks and regulatory compliance requirements.

• Design and implement audit procedures in specialized financial and operational environments.

• Identify fraud and ethical concerns unique to specialized organizations.

• Present professional audit reports and recommendations for sector-specific scenarios.

Key Topics

1. Auditing Banks

   • Regulatory frameworks and central bank requirements

   • Loan portfolio assessment, interest income verification, and liquidity controls

2. Auditing Insurance Companies

   • Insurance accounting standards (premium recognition, claims, and reserves)

   • Risk management and internal control in insurance operations

3. Auditing NGOs and Non-Profits

   • Fund accounting and donor compliance

   • Internal controls over grants, donations, and project funds

   • Reporting and accountability to stakeholders

4. Auditing Multinational Corporations (MNCs)

   • International financial reporting and consolidation issues

   • Transfer pricing, foreign currency transactions, and global compliance

   • Auditing global supply chains and subsidiaries

5. Sector-Specific Fraud and Ethical Considerations

   • Fraud schemes in banking, insurance, NGOs, and MNCs

   • Ethical challenges and professional judgment

6. Case Studies and Practical Applications

   • Sector-specific audit case studies

   • Preparing audit reports for specialized entities

   • Risk assessment and recommendation exercises

Teaching Methods

• Lectures and interactive discussions

• Case study analysis of specialized entities

• Practical audit simulations and exercises

• Group projects on sector-specific audits

Assessment Methods

• Case Study Reports & Simulations: 40%

• Assignments: 20%

• Midterm Examination: 10%

• Final Examination / Project: 30%

???? Recommended Textbooks & References

1. Arens, A. A., Elder, R. J., & Beasley, M. S. – Auditing and Assurance Services: An Integrated Approach

2. Knechel, W., van Staden, C., & Sun, L. – Audit Evidence and Reporting

3. Deloitte / PwC / KPMG – Audit Guides for Banking, Insurance, and NGOs

4. ACFE – Fraud Examiners Manual

5. IFAC / IAASB – International Standards on Auditing (ISA)