On April 2, 2024, third-year students of specialty 072 “Finance, Banking, and Insurance,” within the educational program “Banking”, groups BS-11 and BS-11-2, had a unique opportunity to deepen their knowledge in the discipline “Bank Control Organization” (lecturer by Liudmyla Zakharkina).
As part of the educational process, particularly studying the current topic of the discipline “Key Issues in the Organization of Financial Statement Audit in Banks,” a public, practice-oriented lecture on the important and relevant topic of “Materiality in Auditing” was organized by lecturer Liudmyla Zakharkina.
The event featured Karolina Kurochkina, a senior auditor from the renowned audit company LLC “Crowe Erfolg Ukraine,” as the speaker. She shared her extensive experience and professional knowledge. During the lecture, students had the opportunity to learn about the key aspects of materiality in auditing, its role in defining the overall audit strategy, planning, and reviewing the level of materiality in the process of conducting a financial statement audit.
The lecture covered a wide range of issues, including:
• The essence of the concept of materiality in auditing. ISA 320.
• Determining the level of materiality and its impact on the overall audit strategy.
• Methods for reviewing and adjusting the level of materiality during the audit.
• The relationship between materiality and audit risk, and how it affects the selection of key indicators in financial statements.
• The role of materiality in forming the audit conclusion and communication with management.
Focusing on the practical aspects of auditing allowed students not just to theoretically study the material but to understand its application in real-world conditions and determine how materiality affects the quality and reliability of the audit conclusion.
First-year students of specialty 072 “Finance, Banking, and Insurance,” educational programs “Finance” and “Banking”, groups F-31, BS-31, also joined the event as part of their study of the discipline “Corporate Finance” (lecturer by Larysa Hrytsenko).
This event not only enriched students with new knowledge but also contributed to the development of their professional skills, opening up prospects for a future career in auditing.
Special thanks to Karolina Kurochkina for an informative lecture and collaboration!
