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Level 6 Diploma in Accounting and Business

Foundations and Objectives of Internal Audit

AB604 · Audit and Assurance — Week 1 of 16

CourseAB604
Week1 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Foundations and Objectives of Internal Audit

  1. Corporate governance role
  2. Monitoring internal control systems
  3. Operational efficiency appraisal
  4. Fraud detection and risk mitigation
  5. CIMA P3 Auditing and fraud
  6. CIMA P3 Corporate governance

What you will be able to do

  • 1.1 Explain the reasons for an internal audit.
  • 1.2 Outline internal audit principles.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: explain the reasons for an internal audit.

Study materials

Videos

  • CIMA P3 Auditing and fraud · YouTube · OpenTuition · 50 min · for registered students
  • CIMA P3 Corporate governance · YouTube · OpenTuition · 35 min · for registered students
  • CIMA BA4 Internal and external audit · YouTube · OpenTuition · 30 min · for registered students
  • CORPORATE GOVERNANCE ICAN REASONS FOR BOARD COMMITTEES, NEED, NATURE, AUDIT IN CORPORATE GOVERNANCE · YouTube · Gbenga Olatunji · 26 min · for registered students

Further resources

  • Corporate Governance, ch. 6: Oversight, Compliance, and Risk Management · PDF · Saylor Academy, textbook chapter; pp. 107–120 · for registered students
  • UK Corporate Governance Code 2024 · PDF · Frc, guidance; 19 pages · for registered students
  • Principles of Accounting, Volume 1: Financial Accounting, ch. 8: Fraud, Internal Controls, and Cash · PDF · OpenStax, textbook chapter; pp. 495–536 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 2
Course chat

Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

Open this week in the portal
Course plan
  • Week 1: Foundations and Objectives of Internal Audit
  • Week 2: Internal Audit Principles and Techniques
  • Week 3: Comparative Analysis of Internal and External Audit
  • Week 4: The Auditing Regulatory Environment and Statutory Value
  • Week 5: Professional Ethics and Auditor Conduct
  • Week 6: Contemporary Developments in Audit Practice
  • Week 7: Audit Risk Analysis
  • Midterm: Midterm evaluation
  • Week 9: Minimising and Managing Audit Risk
  • Week 10: Audit Processes and Evidence Gathering
  • Week 11: Audit Finalisation, Reporting, and Regulatory Impact
  • Week 12: Applying Audit and Assurance in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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