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Level 6 Diploma in Accounting and Business

Comparative Analysis of Internal and External Audit

AB604 · Audit and Assurance — Week 3 of 16

CourseAB604
Week3 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Comparative Analysis of Internal and External Audit

  1. Reporting lines and governance relationships
  2. Statutory duties versus internal mandates
  3. Independence and objectivity criteria
  4. Reliance on internal audit work
  5. GOVERNANCE MANAGEMENT MEANING IN AUDIT & ASSURANCE - EXPERT WORK- COMMITTEE FUNCTIONS-DIRECTOR RESPO

What you will be able to do

  • 1.4 Outline the differences between internal and external audits.
  • 2.4 Evaluate the value of a statutory audit.

Activity

Start with this week’s video, then: Seminar, guided reading and a short written task: outline the differences between internal and external audits.

Study materials

Videos

  • GOVERNANCE MANAGEMENT MEANING IN AUDIT & ASSURANCE - EXPERT WORK- COMMITTEE FUNCTIONS-DIRECTOR RESPO · YouTube · Gbenga Olatunji · 14 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

  • ISA (UK) 200: Overall Objectives of the Independent Auditor (updated September 2025) · PDF · Frc, framework · for registered students
  • UK Corporate Governance Code 2024 · PDF · Frc, guidance; 19 pages · for registered students
  • Revised Ethical Standard 2024 (FRC) · PDF · Frc, framework · 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 2Week 4
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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