DID YOU KNOW?
In the current CHE University Ranking 2023/24, Munich Business School mainly achieves above-average ratings in all ranking categories.
Auditing is an auditing process in which independent professionals, known as auditors, review, analyze and evaluate a company's financial records.
The main objective is to ensure that the financial reports comply with legal requirements and accounting standards and that they give a true and fair view of the company's financial position.
Auditors play a crucial role in ensuring transparency, trust and integrity in the business world.
But how exactly can you become an Auditor?
Download Information Material
In our exclusive and non-binding information material, you can find out everything you need to know about:
The path to becoming an auditor generally involves several steps:
It is important to note that the exact requirements and process may vary depending on the country and jurisdiction. It is therefore advisable to check the specific regulations and requirements in the country or region in question.
DID YOU KNOW?
MBS is introducing a new Master's degree program in 2024, which will allow you to dive even further into the world of finance after your Bachelor's degree: Master International Business | Finance
The pursuit of a career in auditing requires not only a passion for numbers, but also specific qualifications and attributes. The ticket into this fascinating world requires a solid academic foundation, coupled with personal traits that successfully overcome the challenges of the industry. In this introduction, we take a look at the key requirements for an auditing degree that will lay the foundation for a successful professional journey. Here are the requirements needed to succeed in this dynamic field:
The following chart shows that International Finance is the No. 1 focus of the MBS Bachelor International Business program, with the highest demand.
There are various degree programs in Germany that focus on the subject of auditing. Here are some of the relevant courses:
It is important to note that the exact names and focus of the courses may vary depending on the university. Interested parties should check the specific curricula and content of the respective universities to ensure that the chosen apprenticeship matches their individual goals and interests.
At Munich Business School, you can study International Business in the Bachelor's program with a focus on auditing. This gives you the perfect mix of Business Studies knowledge and experience in finance etc. to shape your future according to your own ideas. These are the most important facts about studying at MBS:
6 Semesters + Bachelor Thesis
Bachelor of Arts, 210 ECTS
Annually in February and September
Bachelor International Business
German/English
995 EUR per Month
In presence at the campus in Munich
International Focus, Selectable Specializations & Business Projects
6 Focal Points including International Finance
What you will learn in an
Audit Study Program
| Accounting and Financial | Reporting In-depth knowledge of the principles of bookkeeping, accounting and financial reporting. |
|---|---|
| Tax Law | Understanding the tax regulations and principles that affect companies. |
| Business Law | Study of the legal framework that applies to companies, particularly in relation to financial transactions and company audits. |
| Business and Corporate Ethics | Dealing with ethical issues in the context of auditing and corporate management. |
| Risk Management | Identification, assessment and management of financial and business risks. |
| Internal and External Auditing | Learning methods and techniques for internal and external auditing of corporate processes and financial reports. |
| IT Systems and Data Analysis | Integration of information technology into the audit process, including data analysis and management. |
| International Accounting | Standards Familiarity with global accounting standards such as IFRS (International Financial Reporting Standards) and US GAAP (Generally Accepted Accounting Principles). |
| Auditing Practice and Techniques | Application of auditing methods, techniques and standards in the real business world. |
| Communication Skills | Develop the ability to clearly communicate audit findings to various stakeholders. |
By combining these areas of specialization, an auditing degree prepares alumni to act as competent auditors in the dynamic world of business valuation and control. An auditing degree program provides a broad range of skills and knowledge that are critical to reviewing and assessing the financial integrity of companies.
Studying Business Studies with a focus on auditing offers a broader foundation and flexibility compared to a degree program that focuses solely on auditing.
By choosing Business Studies as your major, you not only gain in-depth knowledge in the field of auditing, but also a more comprehensive understanding of the overall business context.
Financial Management Studies allows you to explore different subject areas such as Financial Management, Marketing, Corporate Management and Organizational Structures. This broader range of knowledge is an advantage in today's business world, as auditors are not only confronted with financial data, but also with company-wide processes and strategic decisions.
In addition, a Business Studies degree with a focus on auditing opens up more career opportunities. It allows alumni to not only work as auditors, but also gain a foothold in other areas such as Financial Management, Risk Management or Business Consultancy. This versatility can be particularly useful when personal interests change over time or when it comes to positioning oneself flexibly on the job market.
In addition, many Business Studies programs offer the opportunity to integrate internships and real-world applications in various industries, resulting in a hands-on approach to learning. These practical experiences can help deepen the understanding of the applicability of accounting concepts in different business contexts.
Overall, a Business Studies major with a concentration in auditing provides a balanced and well-rounded apprenticeship that prepares alumni well for the challenges of auditing while expanding their career opportunities.
Munich Business School not only offers you Business Studies, but also focuses on international business so that you can pursue your chosen profession anywhere in the world after graduation. The Bachelor International Business at MBS offers many highlights such as semesters abroad, internships, business projects, plenty of opportunities for networking and much more. At Munich Business School, you can expect small study groups, dedicated teachers and award-winning programs. But even more importantly, we value you as a person. Here, you are not an anonymous member, but the driving force that motivates us every morning. As a small, private university, we take time for your concerns and offer you a tailor-made study experience. Our lecturers have extensive practical experience and teach you skills that really count. In addition to sound business knowledge, we also promote values and skills that will give you an understanding of sustainability and social responsibility as a future Auditor and prepare you optimally for a wide range of professions.
MBS offers students a number of advantages that are made possible by the structure of a private University of Applied Sciences. You will benefit from this during your studies at MBS:
Professors with Experience in Business & Specialists as Guest Lecturers
Small Class Sizes & Support through e.g. Master Top-up-Program
Finance and Management
Broad Business Studies & specialized Knowledge through focal points
Topics from all over the world & many Networking Opportunities
An auditing degree prepares students to work as auditors who review companies' financial reports to ensure accuracy, completeness and regularity. The exact process may vary depending on the university and degree program, but here are typical elements:
Foundation course: The foundation course lays the foundation in business subjects such as accounting, finance, controlling and corporate law.
Specialization subjects: In the further course of their studies, students specialize in subjects that are specific to auditing, such as external accounting, auditing techniques, internal auditing and tax law.
Practical phases: Many degree programs include practical phases or internships to give students an insight into the practical application of what they have learned. Here they can often gain their first experience in the field of auditing.
Data analysis and information technology: In view of the growing use of data analysis in auditing, many degree programs also integrate courses on information technology and data analysis.
Bachelor's/Master's thesis: The course often concludes with a Bachelor's or Master's thesis, in which students carry out their own research project and apply the knowledge they have acquired.
After successfully completing the Bachelor's degree in Auditing or a related degree program, students are awarded the academic degree Bachelor of Science (B.Sc.) or Bachelor of Arts (B.A.). A Master's degree in auditing leads to the degrees Master of Science (M.Sc.) or Master of Arts (M.A.).
Alumni of an auditing degree program are well positioned to work in accounting firms, tax consulting firms, corporate internal audit or other areas of the financial services industry.
It is advisable to research the specific curriculum and requirements of each university to get a more accurate picture of what is expected in a particular auditing program.
The International Business Bachelor program at MBS is not only much more than just learning specialist knowledge, but also a forward-looking program. If you want to look at international business administration in a holistic context, then you've come to the right place. During your Bachelor of Arts in International Business, our lecturers will support you in becoming a responsible business person who not only has professional competence, but also essential soft skills, a broad cultural understanding and a strong personality. We firmly believe that success will only be achieved by those who see international business and management in a holistic context, taking into account social developments, political, historical and global contexts.
Our Bachelor in International Business is characterized by its compact structure. It comprises six to seven semesters of study and concludes with a Bachelor's thesis. During your studies, you will complete at least three internships both in Germany and abroad and spend one or two semesters abroad to put your theoretical knowledge into practice and expand your international network. You can study this program either entirely in English in the English Track (100% English) or even bilingually in the Bilingual Track (70% German/30% English) to prepare you for global challenges.
The studies at MBS focus on the international market. A large part of the course content is taught in English and MBS students come from all over the world.
Internationality is also expressed through the semester abroad. Students spend the last semester at one of our more than 60 partner universities around the world.
Students work on a business project for a real company. In doing so, they apply the theoretical knowledge gained during their studies in practical applications.
The following diagram shows all the specializations you can choose in the Bachelor International Business program at Munich Business School. This includes Finance, which is called International Finance.
The financial market has international ramifications. In this context, companies and financial institutions are looking for competent specialists who have comprehensive knowledge in the areas of controlling, corporate finance and asset management and can apply this knowledge in an international context. The main objective of this specialization is to introduce students to the methods and tools of international finance in the 21st century. This includes aspects such as value-oriented investment assessments, financing decisions, international trade finance and the assessment of risks in a global environment.
What career prospects does this choice of specialization open up?
The knowledge acquired in the field of financial valuation and strategic financial management opens up excellent career opportunities, both in companies and in valuation and investment companies as well as in the financial industry:
If you have any further questions or need more information, you are welcome to contact our student advisory service.
Application
In order to qualify for admission to the business administration and bachelor studies at Munich Business School, you must first meet certain requirements regarding previous schooling and language skills. MBS offers several application rounds and recommends that you submit your application early as the number of places is limited.
There are three admission pathways to the Bachelor’s program at Munich Business School:
Munich Business School also offers a Pre-Bachelor program in International Business as the ideal preparation for bachelor’s-level study.
English Proficiency
Applicants for the Bilingual Track must proof their English language skills by passing one of the following language tests:
Note: If the test is also used to apply for a visa, please check the requirements of the respective embassy in advance.
Test results can only be accepted if achieved within the last two years. If you are unable to obtain your test results before handing in your MBS application, please advise us of your planned test date.
The English proficiency test can be waived by applicants having completed their schooling in English (i.e. US High School Diploma, IB Diploma).
English Proficiency
If you apply for the English Track, you must proof your English language skills by passing one of the following language tests:
Note: If the test is also used to apply for a visa, please check the requirements of the respective embassy in advance.
Test results can only be accepted if achieved within the last two years. If you are unable to obtain your test results before handing in your MBS application, please advise us of your planned test date.
The English proficiency test can be waived by applicants having completed their schooling in English (i.e. US High School Diploma, IB Diploma).
You would like to change university and continue your studies at Munich Business School? We offer Bachelor students the possibility of a transfer to the 2nd or 3rd semester. Previous knowledge in the fields of business administration and management, business law, accounting, mathematics and economics is required. Equivalent study and examination achievements, which have been acquired in an economics program in the basic studies, are counted towards the first two semesters of the bachelor's program at MBS up to a total of 60 ECTS.
Pre-Check of your academic achievements
For a non-binding pre-check of your academic achievements, please submit your curriculum vitae, an official grade confirmation as well as the official module descriptions of the courses you have already completed (with details on ECTS number per course, learning content, number of hours, type of final achievement and learning outcomes). The administrative fee for the Pre-Check is 60 euros. In case of a subsequent application to MBS, the application fee is waived.
Admission requirements
Application deadlines for transfer students
If you have any further questions, please do not hesitate to contact our student advisory service.
Application Documents
Online Application
Application Fee
Please transfer the application fee of 60 Euro to:
Munich Business School GmbH
Account 1020132229
Deutsche Kreditbank (Bank Code 120 300 00)
BIC: BYLADEM1001
IBAN: DE23120300001020132229
or via PayPal: paypal@munich-business-school.de
Application Rounds
Upon receipt of the application fee, the Admission Office checks your documents and invites you to a personal interview. You will receive your feedback within three days. Since the number of study places is limited, we recommend an early application. Your application is possible up to one year in advance. You will then submit your school leaving certificate and proof of English language skills by the start of your studies at the latest.
Scholarships
MBS offers partial scholarships to committed prospective students. In order to apply for one of the limited scholarships, please submit a personal statement with your application for a study place. In this statement you convincingly justify your interest in the scholarship program. You can find further information at Scholarships and Financing.
MBS offers application rounds on a monthly basis. You pick one round for your application.
The next application deadlines for a program start in 2024/2025:
Round May: Application deadline May 15 with personal interviews in May/June
Round June: Application deadline June 15 with personal interviews in June/July.
Round July: Application deadline July 15 with personal interviews in July/August.
Round October: Application deadline October 15 with personal interviews in October/November.
Round November: Application deadline November 15 with personal interviews in November/December.
Round December: Application deadline December 15 with personal interviews in December/January.
The personal interview (approx. 45 minutes) consists of three parts:
You will receive the results of the interview within one week. If you are accepted, the Admission Office will send you your personal study contract. The place of study is then reserved for three weeks. To secure your place of study, you return your signed contract to MBS by e-mail or mail and make a deposit.
Upon acceptance of the study place, you will be required to pay an enrollment fee of 690 Euro (for international students: 1,490 Euro) and a deposit of 1,990 Euro. The latter is offset against the payment installment of your semester fee.
If you are a Non-EU national, you are required to apply for a student visa in order to start your studies in Germany. To obtain a visa invitation letter from Munich Business School, please take the following steps:
1. Hand in your signed study contract and a copy of your passport details page.
2. Transfer the one-time enrollment fee and the deposit of 1,990 Euro. The deposit will be deducted from the first semester tuition installment.
Munich Business School offers attractive scholarships. These are 10 - 50% for the 1st and 2nd Bachelor semester. The application for one of the scholarships is made together with the application for a study place. Further information can be found under "Scholarships and financing".
The program is also aimed at pre-bachelor students.
"Subjects with hard skills and soft skills are appropriately balanced, there are important courses such as finance but equally important courses such as agile management or resilience management. Depending on your focus, you can dive deep into different areas."
E. on StudyCHECK
The salary of an accountant can vary greatly and depends on a number of factors, including experience, qualifications, region, company size and industry. In general, however, it can be said that auditors usually earn well, especially if they have advanced qualifications and extensive professional experience.
Here are rough averages for the salary of auditors in Germany, based on different levels of experience:
It is important to note that these are general estimates and that individual salaries may vary. In addition to a base salary, bonuses, benefits and other compensation components may play a role.
It is advisable to consult up-to-date information from salary surveys, industry associations or recruitment consultancies for more accurate and specific data, as the salary situation may change over time.
The Munich Business School in Numbers
There are a variety of careers in auditing that offer different specializations and career paths. The following careers can be found in a variety of industries and organizations, including accounting firms, corporations, government agencies and non-profit organizations. Exact career progression often depends on individual interests, skills and qualifications. Here are some of the common careers in auditing:
| Auditor | Auditors audit and evaluate the financial records of companies to ensure that they comply with legal regulations and standards. |
|---|---|
| Tax Advisor | Tax advisors support companies and individuals in tax matters. They advise on tax optimization, prepare tax returns and help with tax compliance. |
| Internal Auditor | Internal auditors work within an organization and review internal processes to ensure efficiency, compliance and risk management. |
| Forensic Accountant | These professionals investigate financial irregularities, fraud or other legal matters within an organization. |
| Risk Manager | Risk managers identify, assess and manage financial and business risks within an organization. |
| Compliance Expert | Compliance experts ensure that a company complies with all relevant laws and regulations, whether in the area of financial reporting or other business-related areas. |
| Corporate Finance Consultant | These consultants assist companies with mergers, acquisitions, capital raising and other financial transactions. |
| IT Auditor | IT Auditors review an organization's information technology systems to ensure security, integrity and efficiency. |
| Business Valuation Consultant | These professionals assess the value of companies, whether for tax purposes, mergers or other strategic decisions. |
| Audit Service Provider | This includes companies that provide audit and consulting services, whether in the form of auditing firms or specialized consulting firms. |
The following auditor tasks are not the only ones you can master with confidence after studying auditing. These three key professions within this field offer different perspectives and challenges:
Tasks: You will support companies and individuals in tax matters. This includes preparing tax returns, advising on tax optimization options, interpreting tax laws and representing clients in dealings with tax authorities. They also help develop tax strategies to minimize the tax burden.
Why it's interesting: They have a impact on the financial health of their clients by optimizing tax burdens and helping with legal requirements. The profession is dynamic and requires constant training due to changing tax laws and regulations. You will have the opportunity to work closely with businesses and individuals to develop customized tax solutions.
Tasks: You review internal business processes and systems to ensure the efficiency, compliance and risk management of an organization. This includes identifying opportunities for improvement, reviewing internal controls, assessing risks and reporting to management.
Why it's interesting: They have a holistic view of how a company operates and help to optimize the efficiency and effectiveness of business processes. By identifying risks, they can proactively help to avoid potential problems. The profession offers the opportunity to work in an interdisciplinary environment and collaborate with different departments to support the company's goals.
Tasks: These people specialize in auditing and evaluating the financial records of companies. They ensure that reports comply with legal standards and provide independent assurance on the accuracy of a company's financial information. This includes analyzing balance sheets, income statements, cash flow statements and other relevant financial data.
Why it's interesting: This profession offers the opportunity to work in a variety of industries and companies. The work requires not only financial expertise, but also critical thinking and judgment. Auditors play a crucial role in ensuring the transparency and trustworthiness of company information.
DID YOU KNOW?
After an MBS Bachelor's or Master's degree, you can also take up all these professions abroad without any problems.
Yes, it is possible to become a chartered accountant without having completed a degree. However, most auditors are equipped with a degree in business administration, economics or a similar subject. Alternatively, degrees in accounting or finance may also be relevant. To become a chartered accountant without a degree, individuals usually need to have extensive professional experience and qualifications, such as an apprenticeship as a tax clerk or comparable further training. It is important to note that the exact requirements may vary depending on the country and region.
Degree courses in Business Studies, Economics or comparable subjects are particularly suitable for a career in auditing. A Bachelor's degree in one of these subjects often forms the basis for entry into auditing. To specialize further and reach advanced positions, a Master's degree in auditing or a related field can be beneficial. It is important to ensure that the chosen degree program offers relevant modules in accounting, finance and auditing technology.
At Munich Business School, you can study International Business in the Bachelor's and Master's degree programs with corresponding specializations. In addition, Munich Business School will be offering the new Master International Business | Finance program from 2024.
The duration of the auditor exam can vary depending on the country and examination regulations. In Germany, it usually takes several years to become a certified public accountant. After studying, several years of professional practice follow, followed by two years of part-time exam preparation. The actual auditor examination consists of several parts, including written and oral examinations. In total, it can take around six to eight years until all requirements are met, and the auditor exam is completed.
Auditors are tasked with reviewing the financial records of companies and ensuring that they comply with legal standards and accounting principles. They analyze balance sheets, income statements and other financial data to ensure accuracy, completeness and regularity. They can also advise companies on improving their internal controls, risk management processes and general business practices. The role of auditors helps to ensure transparency and trust in the financial reporting of companies.
The costs for the auditor exam vary depending on the country, examination regulations and examination institute. In Germany, different fees are charged for the individual examination sections. The total costs are made up of registration fees, examination fees and any material costs. As a rough estimate, the total costs for the entire exam preparation and the individual exam sections can amount to several thousand euros. It is advisable to consult the current fee schedule of the respective examination institution in order to obtain precise information on the costs of the auditor exam.
