Vorarlberg University
of Applied Sciences

Information on individual educational components (ECTS-Course descriptions) per semester

Audit, Fraud Prevention and Risk Management

Degree programme	International Business Administration
Subject area	Business and Management
Type of degree	Bachelor Full-time Winter Semester 2024
Course unit title	Audit, Fraud Prevention and Risk Management
Course unit code	025008052212
Language of instruction	English
Type of course unit (compulsory, optional)	Elective
Teaching hours per week	2
Year of study	2024
Level of the course / module according to the curriculum
Number of ECTS credits allocated	3
Name of lecturer(s)	Martin FITZ

Requirements and Prerequisites

None

Course content

Introduction to good corporate governance with a view to the various tools for this.
Introduction to risk management, especially operational risk (across business areas and sectors).
Overview of possible types of fraud as well as how to recognise and combat them by means of an internal control system (ICS).
Introduction to internal auditing for the targeted review of structures and processes as well as for the promotion and optimisation of efficiency and effectiveness.
Overview of external audits and the institution of auditing.

Learning outcomes

Industry, business model, size of the business - these are just a few of the factors that influence a company's vulnerability to risk and the need for effective risk management and fraud prevention. Good corporate governance can develop into a competitive advantage; in any case, it is often a prerequisite, for example, for obtaining certain contracts. Internal and external audits are gaining in importance in almost all industries, and the instrument of auditing is of great importance to legislators and capital markets. For students of all specialisations, this subject offers important basics for ensuring that companies are managed as "safely" as possible.

Students develop the skills to implement the basics of good corporate governance and thus recognise potential for success in the areas of risk management, fraud prevention and (internal) audit in the current economic, political and technical environment. Furthermore, they develop a fundamental understanding of the management of operational risks, the detection and prevention of fraud in its many forms and the use of audits of internal and external origin to safeguard and optimise business processes and results.

The students show an understanding of the sense and benefits of good corporate governance, they understand why risk management reduces losses and improves reputation, which forms of fraud they have to reckon with and how they can prevent them through suitable internal control measures. How auditing and financial statement auditing can promote greater security and ongoing optimisation of the organisation and processes is also an essential part of the course.

The understanding is supplemented by working through current case studies, practical experience as well as best practice examples. The students are sensitised to pay attention to good governance in their organisations and to protect them from damage by implementing risk management, fraud prevention and internal and external audit.

Students learn to use the tools of risk management, to assess the effectiveness of risk management and to contribute to an improved risk culture. They are aware of the main red-tagged warning signs of fraud that can occur at all levels of staff and management. They are able to prevent fraud by appropriate means.

Planned learning activities and teaching methods

Interactive course with lecture, case studies, exercises in individual and group work, presentations and homework.

Assessment methods and criteria

Pre-assignment, participation during the seminar in the form of contributions and short presentations (individual or group assignments), post-assignment, individual weighting as determined by the instructors, announcement at the beginning of the semester

Comment

None