Yes it is possible to take advantage but not very necessary
Hello. So an MBA in Finance program is for roughly about 102 credits ( 1 credit represents 10 hours) . A full Audit course would therefore be for about 3 or 4 credits thus representing 30 to 40 hours .
A financial audit is usually the subject matter of accountants. Hence it should be left to people with accountancy degrees. The MBA Finance should focus on management of funds, capital structures and other managerial functions of finance.
The question by Salim Ali Shamsher is about management audit or internal audit whereas Dinesh Kumar has answered on financial audit which is a different topic.
Yes it could be argued that internal audit should be included on an MBA curriculum on the grounds that internal audit can be more closely related to the management function, risks and controls. If MBA graduates understand how internal audit can be harnessed to better manage the organisation's limited resources, that could be a meaningful enhancement to their education. I attach a few short papers below which help to illustrate this.
In this way, internal audit differs significantly from the audit of financial statements which is what Dinesh Kumar seems to be referring to. This is a misconception of the role of internal audit. Clearing up this commonly held misconception would be another reason to include internal audit in the MBA curriculum.
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Yes, a management audit is included in the MBA course. Internal audit is a different sector. Audit either external or internal will see the financial statement of the company. A financial statement is taught in the MBA course.
Internal audit is a different sector. Audit either external or internal will see the financial statement of the company
Management audit/ internal audit is not within the purview of finance. Finance course should concern itself with sources and applications of fund.
A financial audit is usually the subject matter of accountants. Hence it should be left to people with accountancy degrees. The MBA Finance should focus on management of funds, capital structures and other managerial functions of finance.
Auditing courses require very good accounting knowledge. Moreover they are pretty specialized and probably are not of high demand from the majority of MBA students. So to my mind this course should not be included in the main curriculum. Compulsory courses on MBA program should give "a helicopter view" of the company so MBA participants could think of how to improve performance indicators and overall efficiency of the company. In this case Management Accounting course serves a different goal and should not be included in the main curriculum. At the same time if you have minors or elective courses, then it can be included there in case some of the MBA students are interested in it.
No. I agree with Tatiana’s answer.
A few hours maybe one on the process of the audit; steps what to look for etc etc could be useful.
As per my experience as Chief Executive Officer of a Development Bank in Nepal and s student of Finance (MBA), I suggest to be clear audit is different from the source and usage of funds. Finance planners are not associated with the checking of income and expenses. You should teach capital structure management,, management of funds, managerial functions of finance. But if you want to teach sociology to them that'll also be beneficial to the student to handle the sociological aspect of the people associated with them. I am mentioning sociology because of my experience of training on social mobilization to the credit group. In the group mobilization sociology must.
Financial discipline is a cornerstone of the success of any organization, management can not take it as granted that the finance department itself would always do the right thing Therefore MBA course could be incorporated with a partial module covering the high-level requirements of Auditing.
I am a media specialist, sorry I do not have information about the administration major
Management audit is a general management activity and thus could be relevant to the Finance function that will provide and manage funds for decision makers. I do not see the relevance of internal audit as a full course. However, if management audit will be a full course then it may be more relevant to be viewed as part of Management Information System- measurement and control.
The lots of part or diversification in the Audit terms. Those are Program Audit, Financial Audit, Social Audit, In-depth Audit, Access Audit, etc. All of them can be Internal or External Audit. It depends on the nature of work, demand from the implementation partner as well as the donor Part. So Any faculty can include the subject. But the course can complete through fieldwork, on the job training, Internship mode for a time being. Students can submit the report as well as a presentation to the course head or supervisor after the fieldwork.
Teaching management audit/internal audit to MBA(Finance) students is not suggested because they are going to be managers and not accountants in the firm. But, yes, a rough idea of how it's done is required so that they can better understand when internal audits actually happened in their firm.
This course is offered as unit in Accounts, hence it should remain that way considering many who practice auditing end up as Accountants or finance managers later.
Auditing is part of the Accounting and Finance world. Since MBA programs are open to all backgrounds, my answer to this question will be "yes." MBA graduates should know about the audit process, cycles and opinions, because that`s what they will be facing when they go into the real business life.
I share the opinion of Cenap Ilter and his possitive answer to this question. I think that students in a MBA (Major Finance) must know Auditing courses, specially those mentioned: Management Audit and Internal Audit. Both courses are very useful for a Manager who has to deal daily with financial resources and its technical information.
Exactly so because management audit is one of such indispensable courses for every MBA graduate. This will increase their grit and competence for effective practice as internal auditors
I feel it is not necessary yo include it as a major in finance. But can be done as an elective if someone wishes.
In my opinion a full course might be too much for an MBA, but identifying the most important aspects/concepts and incorporating that into an MBA course might breach the gap.
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