Ateneo - UPO

The course is designed to impart comprehensive knowledge in auditing and accounting, focusing on the correct application of civil law and tax regulations for evaluating and implementing internal controls within companies. Special attention is also given to assurance in crisis situations. In the second part, the course delves into the accounting and information systems of public administrations. This knowledge is crucial for various professionals both inside (e.g., Chief Financial Officers, managers, directors) and outside (e.g., banks, consulting firms, audit firms, supplier businesses) of public institutions. The course includes exercises, case studies, and discussions with experts to support learning.
Students are also invited to the third edition of the conference "Women at the Top" organized by the professor, and to the first edition of the conference "Liquidation Value of Companies in Crisis" organized by the professor, to which were invited Dr. Andrea Panizza, President of APRI, Dr. Mauro Bini, President of the OIV Management Committee, Dr. Alessandro Turchi, Chartered Accountant, member of the ODCEC Business Crisis Commission of Milan, Dr. Francesco Bavagnoli, Chartered Accountant and Associate Professor at DISEI, Dr. Andrea Rivolta, Chartered Accountant, Marina Spiotta, Lawyer and Associate Professor at DISEI, Dr. Stefano Ambrosini, Lawyer, Full Professor at UPO, Dr. Mauro Nicola, President of ODCEC Novara.

The references for the first part of the course are:
- L.P.P.: Livatino, Pecchiari, Pogliani, Principi e metodologie di auditing, EGEA, Milan, 2007, Chapters 1-9.
- CNDCEC: Quagli A., Danovi A., Riva P., Principi di attestazione dei piani di risanamento (2024).
- Riva P.: Slides prepared by the professor, available on Moodle and in the classroom.

The references for the second part of the course are:
-Borghi A., Pozzoli S.: Revisore degli Enti Locali, Wolters Kluwer, Milan, 2016, Chapters 1-2-4-6-7-8-9-14-17.
-Maggi D.: Materials provided by the professor.
Further information is available on the course's webpage on the e-learning portal (D.I.R.).

The course is worth 4 credits, corresponding to 30 hours of classroom teaching. Overall, approximately 20 hours are dedicated to teaching (DE) and 10 hours to interactive teaching (DI), with flexible proportions within each lesson.

It has the aim to provide auditing and assurance skills. The issue will be addressed by providing the general reference model shared by doctrine and practice as consistent with the ISA (International Standard on Auditing). Then it will analyze the traditional accounting system in public companies such as:
1. the main features of the accounting system of public companies;
2. the annual financial statement’s principles; 3. the budget cycle in company municipal and provincial (weather, operations management , summary of accounting period );
4. the audit: the principles of the revision, the techniques, the role of auditors in public companies.

In order to pass the examination, it is necessary to hold the basic knowledge of the business economy (double – entry method, financial statements and its construction). It is therefore necessary to have passed the examination of “Economia aziendale” and “Ragioneria”.

For the purposes of the learning process, decisive to overcome the exam, will be theoretical lessons, interactive exercises and workshops with experts and operators in the sector. The activities required consist in the study of the lessons and the implementation of teamwork necessary to improve and deepen the subjects covered in the lectures. This will be presented by students and evaluated by the professor.

Course attendance is optional but recommended as case studies will be presented, experts invited to speak and workshops conducted. All the above activities facilitate learning. Only for the first part of the course, the frequency of the three seminars in syllabus and two additional seminars chosen from the professor’ proposal at the beginning of the course and conference scheduled for December (Date and details will be communicated in the classroom) will be entitled to 1 point to be added to the final vote. Likewise, the two teamwork which will be proposed by the professor during the course will be able to permit, after the positive assessment of the work, the achievement of further 2 points (1 for each work) to be added to the final vote. At the end of the course, for those who are interested in audit, there’s the possibility to evaluate a stage in professional offices and auditing firms, indicating their availability to the professor. Finally, students that would like to draft their own thesis in audit and assurance can ask to professor to participate at the research activity of the OCRI - Crisis and Business Recovery Observatory, of the Universities of Bergamo, Bocconi, UPO and Milan SAF. The professor will be available to students weekly on Monday at 01:00 pm. You can also contact professors and lecturers after class, and by email at: patrizia.riva@uniupo.it.

Students with physical disabilities, Learning Disabilities or Special Education Needs can request specific services and tools via the Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti, consulting the University webpage: https://www.uniupo.it/en/services/services-students-physical-or-learning-disabilities
Students with disabilities, learning disabilities or special education needs, once they have contacted the University Staff, can refer to the tutor in charge of the course to define the examination modalities, concerning academic aspects.

The exam consists of a written test consisting of open-ended questions and exercises. To pass the exam, students must demonstrate knowledge and understanding of at least the fundamental concepts, and must be able to present them clearly and demonstrate a reasonable ability to summarize. A broader knowledge and understanding of the program content, which in particular allows students to establish connections between the various topics covered, will lead to a higher grade. To achieve a high grade, students must be able to independently utilize their knowledge and understanding of the course content to engage in an in-depth discussion of the most critical aspects of the topics covered and to present their conclusions clearly and logically.
The written exam can be taken in two ways:
1. Students who have attended the course lectures have the opportunity to take two self-assessment tests. Each test will focus on the program of the first module and the program of the second module, respectively. The second self-assessment test may only be taken if the first has been passed with a grade of 18/30 or higher. Passing both written tests will result in a final grade (determined as the weighted average of the two tests). The grade must be recorded in one of the three exam sessions during the winter session, under penalty of forfeiture. With reference to the grade obtained in the first self-assessment test (Professor Riva module), attendance at the three scheduled seminars, two additional seminars chosen from those proposed by the instructor at the beginning of the course, and the conferences scheduled for December (date and details will be announced in class) will be awarded two points to the final grade. Similarly, completing the two group projects proposed by the instructor during the course, subject to a positive evaluation of the work, will earn an additional two points to the final grade.
2. Taking a general exam. Students who fail one of the two midterm exams, or who choose the general exam, will be required to take a written exam covering the entire course syllabus.
The exam will be evaluated according to the following criteria:
Not suitable: deficiencies and/or inaccuracies in the knowledge and understanding of the topics; limited analytical and synthesis skills; frequent generalizations; limited critical thinking and judgment; topics presented incoherently.
18-20: barely sufficient knowledge and understanding of the topics, with possible generalizations and imperfections; sufficient analytical skills and independent judgment; topics frequently presented with a lack of coherence and using non-technical language.
21-23: routine knowledge and understanding of the topics; correct analytical and synthesis skills; sufficiently coherent logical argumentation; appropriate/technical language.
24-26: fair knowledge and understanding of the topics; good analytical and synthesis skills; arguments presented rigorously.
27-29: comprehensive knowledge and understanding of the topics; remarkable analytical and synthesis skills; good independent judgment; topics presented rigorously and using technical language.
30-30L: excellent level of knowledge and in-depth understanding of the topics; excellent analytical and synthesis skills and independent judgment; arguments expressed originally and using appropriate technical language.
Erasmus students
Erasmus students are encouraged to contact the instructors by email.
OVERALL ASSESSMENT
The written exam can be taken at the end of the module (in October 2026). The grade obtained in this module (4 credits) and the grade obtained in the second module taught by Professor Maggi (2 credits) will contribute to the final grade based on the credits awarded for each part.

During the course, the following issues will be discussed:
First part (Prof. Riva)
1. introduction and methodology of the review;
2. the relevance of the appropriate arrangements.
3. auditor’s independence: the ethical dilemma;
4. the audit methodology applied to the financial statements; the reliability requirements of the information system;
5. organizational system requirements means the internal control system;
6. the cycle/ process approach;
7. the revision risk model;
8. the significance of errors;
9. The stages of the revision work. The planning and revision program. Testimony
10. the working papers used by the auditing firm (testimony by professionals);
11. The assurance. the audit carried out by the attestator of the plans of the companies in crisis. the principles of attestation (first part).
12. The assurance. the audit carried out by the attestator of the plans of the companies in crisis. the principles of attestation (second part).
13. the audit carried out by the certifier and the commissioner of plans of companies in crisis. Testimony.
14. Group Work Presentation - Final Exercise.
15. Group Work Presentation - Final Exercise.

Second part (Prof. Maggi)
1. purpose, object and method of the financial accounting system;
2. The system of functioning of financial accounts;
3. the input and expenditure phases;
4. residues, economies, diseconomies;
5. the administrative result and its application;
6. the local authorities’ budget;
7. the budget balance;
8. audits procedure and statements to the budget;
9. the consumptive financial statements;
10. audits procedure and statements to the consumptive financial statements.

GENDER INTEGRATION
The course focuses on gender mainstreaming. To create concrete opportunities for discussion on gender equality, testimonials from women who serve as partners in leading audit firms are planned.

KNOWLEDGE AND UNDERSTANDING
Minimum pass level: Sufficient knowledge of the assertion audit model underlying the principles-based audits that evaluate the auditor's performance.
Intermediate/advanced level: Good/excellent knowledge and understanding of audit methodologies and phases, audit working papers, and assurance activities. Furthermore, good knowledge of the preparation, management, and auditing of local government financial statements.
ABILITY TO APPLY KNOWLEDGE AND UNDERSTANDING
Minimum pass level: Sufficient ability to apply the main audit and financial accounting methodologies and procedures to the analysis of simple business and local government cases, identifying the main risks and relevant elements for audit purposes, as well as the use of simple working papers.
Intermediate/Advanced Level: Good ability to apply acquired methodologies and procedures to the analysis of sufficiently complex business and local government cases, identifying risks, assessing the significance of errors, verifying financial statements, and preparing and appropriately using working papers.
JUDGMENT SKILLS
Minimum pass level: Acquisition of sufficient judgment in selecting and using the most suitable methodologies and tools for analyzing the main risks and issues related to auditing, accounting control, and financial management of local governments.
Intermediate/Advanced Level: Acquisition of satisfactory judgment in selecting and independently using auditing and control methodologies, procedures, and tools, including in relation to risk assessment, the significance of errors, the internal control system, financial statements, and financial management results.
COMMUNICATION SKILLS
Minimum pass level: Sufficient ability to communicate clearly and rigorously, in writing, the main analyses and assessments relating to auditing, accounting control, and the accounting and financial management of local authorities.
Intermediate/Advanced level: Good knowledge of the grading of audit opinions and the ability to communicate clearly and rigorously, both in writing and orally, analyses, assessments, and logical-deductive approaches relating to corporate auditing, accounting control, and the financial management of local authorities.
LEARNING SKILLS
Minimum pass level: Sufficient ability to independently use reference texts, regulations, notes, and digital resources to understand and apply the main auditing methodologies and financial accounting rules, as well as to analyze the main financial statements and audit documentation.
Intermediate/advanced level: good autonomy in exploring issues related to corporate auditing and financial accounting of local authorities and in applying the acquired knowledge to the analysis of sufficiently complex cases and situations, including through the use of working papers.