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Level 6 Diploma in Accounting and Business

The Auditing Regulatory Environment and Statutory Value

AB604 · Audit and Assurance — Week 4 of 16

CourseAB604
Week4 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

The Auditing Regulatory Environment and Statutory Value

  1. International Standards on Auditing (ISAs)
  2. National legal framework and Companies Act duties
  3. Agency theory and stakeholder confidence
  4. Limitations of statutory audit assurance
  5. Agency theory | What agency theory is in corporate governance | Agency theory explained | The agency
  6. Webinar - Implementing Section 172 of the UK Companies Act 2006

What you will be able to do

  • 2.1 Review the current auditing regulatory environment.
  • 2.4 Evaluate the value of a statutory audit.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: review the current auditing regulatory environment.

Study materials

Videos

  • Agency theory | What agency theory is in corporate governance | Agency theory explained | The agency · YouTube · Gbenga Olatunji · 23 min · for registered students
  • Webinar - Implementing Section 172 of the UK Companies Act 2006 · YouTube · ThreeTicks · 25 min · for registered students
  • ICAEW Insights In Focus: The BEIS White Paper – why do we need audit and corporate governance ref... · YouTube · ICAEW · 34 min · for registered students

Further resources

  • ISA (UK) 200: Overall Objectives of the Independent Auditor (updated September 2025) · PDF · Frc, framework · for registered students
  • Companies Act 2006 · Reading · legislation.gov.uk, legislation · for registered students
  • UK Corporate Governance Code 2024 · PDF · Frc, guidance; 19 pages · 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 3Week 5
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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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