Here you will find information about the theoretical education that is in accordance with RI's new education and examination regulations. These regulations enter into force on July 1, 2018.
RI's new regulations are called The Swedish Inspectorate of Auditors’ Regulations (RIFS 2018:1) on the Auditor Exam.
To qualify to take the auditor exam, you must have received studied and received passing grades in ten compulsory subject areas. To improve your chances of passing the exam, you should also have studied nine other subject areas.
In order to clarify the competency profile and to prepare examinees for the exam, the trade association FAR collaborates with universities and colleges to develop learning objectives for both the required subject areas and for additional subject areas. This means that there are opportunities to study the additional subjected areas in a manner that integrates them with the required subject areas.
Compulsory Subject Areas
As part of your Bachelor’s degree or as a complement to it, you must have studied the following ten subject areas and received a passing grade:
1. general accounting theory and principles;
2. legal requirements and standards relating to the preparation of
annual and consolidated accounts;
3. international accounting standards;
4. financial analysis;
5. cost and management accounting;
6. risk management and internal control;
7. auditing and professional skills;
8. legal requirements and professional standards relating to statutory
audit and statutory auditors;
9. international auditing standards as referred to in Article 26;
10. professional ethics and independence.
The subject areas may have been integrated into other subjects. For example, they may have been included in courses relating to other topics.
Studies at a University, College, or Auditing Firm
You choose where you study each subject area. However, subject areas 1-5 must have been studied at a university or college. Subject areas of 6-10 must have been studied at an auditing firm, university, or college.
Auditing firms at which studies in subject areas 6-10 may be conducted include
- Swedish accounting firms (regardless of whether or not they are registered accounting companies) and
- firms which a competent authority in another state within the EEA (a state other than Sweden) has approved to carry out statutory audits, i.e., the state's equivalent of a registered accounting firm.
Training that has taken place at an auditing firm must have followed a training program that is approved by the Swedish Inspectorate of Auditors.
To be counted, all the abovementioned compulsory disciplines (1-10) must have been studied in a country within the EEA. This applies even if you have a foreign education equivalent to a Swedish Bachelor’s degree.
Additional Subject Areas
If you intend to take the auditor exam, you should also possess knowledge in the following nine subject areas. This knowledge is assessed in the auditor exam, insofar as it is relevant to auditing.
1. company law and corporate governance;
2. the law of insolvency and similar procedures;
3. tax law;
4. civil and commercial law;
5. social security law and employment law;
6. information technology and computer systems;
7. business, general and financial economics;
8. mathematics and statistics;
9. basic principles of the financial management of undertakings.