FACULTY OF INTERNATIONAL ECONOMICS AND ADMINISTRATION
DEPARTMENT of ECONOMICS
PROFESSIONAL AREA ECONOMICS

 

 Speciality: Finance and Accounting

Specialization: Financial Audit
 
Awarded qualification: Master in Economics
 
Level of qualification: Master
 
Length of programme: one year / one and half year / two years
 
Number of credits: 60 / 90 / 120
 
Field(s) of study (ISCED-F): 0411: Accounting and Taxation
 
Specific admission requirements: A degree with an average mark "Good" and an entry exam.
 
Specific arrangements for recognition of prior learning: The head of front office "Master’s degree programmes" and the technical assistant to the Master's degree program provide initial information about the application and enrollment: phone numbers - 052/359-525, 052/359-513; 052/359-639; e-mail: desislawak@gmail.com
Procedures:
- university diploma and a set of papers submitted duly and within the prescribed period;
- accession examination - a test;
- candidate ranking and enrollment;
 

• can apply online through the University's website - http://magister.vfu.bg/.

 
Qualification requirements and regulations, including graduation equirements*: The duration of study for: 
- Professional Bachelor’s degree holders in economic majors - 4 semesters for full-time and part-time courses - 120 credits.
- Bachelors’ degree holders in non-economic majors - 3 semesters for full-time and part-time courses - 90 credits.
- Bachelors’ degree holders in economic majors - 2 semesters for full-time and part-time courses - 60 credits. 

Part-time courses are 50% of the number of lectures and seminars for full-time trainees. 
 
Profile of the programme: The Master's degree program in Financial Audit is designed for a broad-based and specialized training and education of students with professional interests in economy, finance, accounting, business law, financial law, auditing, taxation, tax control and more. The education obtained is the basis for successful implementation in the field of audit. In the presence of the necessary regulatory requirements and internships and after passing the exams, according to the normative acts, the graduates of the Master's program "FINANCIAL AUDIT" may obtain the qualification of Certified Public Accountants. In connection with the latter, the curriculum of the specialty envisages a large part of the necessary disciplines under the Independent Financial Audit Act.
 
Programme learning outcomes: The curriculum and curricula provide in-depth and specialized broad-based training in finance, accounting and auditing, with a focus on EU finance; development of financial markets; financial statements; business combinations, investments and consolidated statements; analysis of financial statements, taxation and tax control, etc. During the course students acquire knowledge about the organization and methodology of financial audit, tax control, preparation of financial statements, internal audit, substantiation and suggestion of effective management decisions as a result of analysis and evaluation of economic conditions, required legal culture in the field of commercial law. The training in the profile disciplines is organized and carried out in accordance with the contemporary development of theory and practice in the relevant scientific field.
 
 
Programme structure diagram with credits *:

 

№	ECTS Code	Course Title	Lectures and seminars	Out-of-class workload	Number of credits
1	ECO1067	Micro and macroeconomics	60	120	6
2	FIN1036	Finance	60	120	6
3	INF1034	Information systems and technologies	60	120	6
4	SOC1094	Professional ethics and independence	60	120	6
5	FIN1163	Financial management systems	60	120	6
Total for semester I			300	600	30
1	ACC1134	Accounting	75	15	75
2	ACC3148	Globalization of accounting	30	60	30
3	LAW1152	Commercial Law	45	90	45
4	LAW3346	Labor and social security law	45	90	45
5	FIN3294	Taxation and tax control	45	90	45
6	FIN3090	Financial Control	30	60	30
7		Optional course IІ semester	30	60	3
Total for semester II			300	600	30
Total for year 1			600	1200	60
1	ACC3118	Financial Accounting	45	90	4,5
2	ACC3121	Financial statements	45	90	4,5
3	ACC3133	Analysis of financial statements	30	60	3
4	ACC3129	Audit approach and audit practice	45	90	4,5
5	FIN3295	Public Sector Audit	45	90	4,5
6		Optional course IІІ semester	60	120	6
7		Elective course IІІ semester	30	60	3
Total for semester IIІ			300	600	30
1	FIN3343	Risk management and internal control	45	90	4,5
2	FIN3229	Business combinations and consolidated	45	90	4,5
3		Optional course IV semester	30	60	3
4		Elective course IV semester	30	60	3
Total for semester IV			150	300	15
Total for year 2			450	900	45
Master's Thesis Defence				300	15
Total for the entire course of study :			1050	2400	120
Optional  courses, choose 4 from 8
1	FIN3217	EU finances	30	60	3
2	FIN3223	Commercial Bankruptcy	30	60	3
3	FIN3241	Independent financial audit	30	60	3
4	FIN3344	Portfolio management	30	60	3
5	ACC 3130	Audit of projects and audit related services	30	60	3
6	INF 3135	Accounting Software	30	60	3
7	ACC 3127	Management accounting	30	60	3
8	FIN3329	International payments	30	60	3
Elective courses, choose 2 from 6
1	FIN3313	Financial Mathematics	30	60	3
2	FIN3345	Financial dimensions of business risk	30	60	3
3	MAN3231	Master class	30	60	3
4	LAW 3252	Tax law	30	60	3
5	MAN 3391	Mergers and acquisitions	30	60	3
6	FIN3313	Financial Mathematics	30	60	3

* In Varna Free University, a credit equals 30 lessons, of which 10 contact hours (lectures and seminars) and 20 hours independent work.
The Curriculum is for a four-semester course of study.
The Curriculum for the three-semester course begins with the course "Accounting".
The Curriculum for the two-semester course begins with the course "Financial Accounting".
 
Mode of study: full-time, part-time
 
Examination regulations and grading scale: Each discipline ends with sitting a semester examination. During the process of study, tests, assignments and case studies are prepared and done. Some disciplines require the development of project assignments and reports. The precise evaluation criteria are indicated in the syllabi. It’s common to use the scoring system to evaluate the ongoing assessment and conduct semester exam as well as to determine the final grade. Postgraduates need to become familiar with the criteria and concrete evaluation methodology in the relevant discipline in advance.
 
Obligatory or optional mobility windows (if applicable): None
 
Work placement(s) (if applicable): None
 
Work-based learning: The cooperation of the Department with representatives from the fields of tax and customs control shall organize Practicum.
 
Occupational profiles of graduates: Graduates of the FINANCIAL AUDIT Master Program can work in management and executive positions in labor, official and bond relations in all sectors of the national economy and government: commercial companies; banks and non-banking financial institutions; insurance, insurance and not-for-profit enterprises and institutions; specialized audit firms; ministries, agencies, agencies, unions, public organizations, regional administrations, municipalities, budgetary enterprises, foundations; in the divisions of the tax administration and others. The main positions they can occupy and perform are from a very wide range: managers of companies, offices, departments and other structural units; auditors in the Court of Auditors, auditors in the Internal State Inspectorate, auditors in specialized audit companies in the field of independent financial audit, internal auditors of enterprises; chief accountants, accountants, financial managers, economists, financiers, experts, analysts and more.
 
Access to further studies: The students who have finished the Master’s degree program in Financial Audit  have the opportunity to continue their education in a PhD program in Accounting, Control and Analysis of Business Activity.
 
Head of Master’s Degree Programme: Assoc. Prof. Iva Moneva, PhD 
tel.: 0888/877152
e-mail: ivamoneva@abv.bg
 
Technical assistant: Desislava Kirova
tel.: 052/ 359-639
e-mail: desislawak@gmail.com