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Level 7 Diploma in Accounting and Finance

Evolution of Auditing Regulation

AF705 · Strategic Audit — Week 1 of 16

CourseAF705
Week1 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Evolution of Auditing Regulation

  1. Historical corporate failures and regulatory responses
  2. International Standards on Auditing (ISAs) framework
  3. Statutory role of oversight bodies
  4. Cross-border regulatory harmonisation
  5. 12. Misbehavior, Crises, Regulation and Self Regulation
  6. Organisational audit and control - ACCA Strategic Business Leader (SBL)

What you will be able to do

  • 1.1 Assess the historic and current auditing regulatory environment.

Activity

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

Study materials

Videos

  • Organisational audit and control - ACCA Strategic Business Leader (SBL) · YouTube · OpenTuition · 24 min · for registered students
  • The Audit Report: What does Modernising Corporate Reporting mean for auditors? · YouTube · ICAEW · 29 min · for registered students
  • What does Modernising Corporate Reporting mean for auditors? · YouTube · ICAEW · 29 min · for registered students

Further resources

  • UK Corporate Governance Code 2024 · PDF · Frc, guidance; 19 pages · for registered students
  • G20/OECD Principles of Corporate Governance 2023 · PDF · Oecd, framework; 53 pages · for registered students
  • Financial Accounting, ch. 6: Why Should Decision Makers Trust Financial Statements? · PDF · Saylor Academy, textbook chapter; pp. 175–206 · 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: Evolution of Auditing Regulation
  • Week 2: Ethics and Professional Conduct in Assurance
  • Week 3: Legal and Statutory Responsibilities of Auditors
  • Week 4: Financial Statement Preparation and Audit Linkages
  • Week 5: Strategic Audit Planning and Business Organisation
  • Week 6: Audit Risk Identification and Assessment
  • Week 7: Audit Risk Mitigation and Response Design
  • Midterm: Midterm evaluation
  • Week 9: Audit Monitoring and Engagement Quality Control
  • Week 10: Technological Disruptions in Strategic Auditing
  • Week 11: Emerging Assurance Horizons and Regulatory Reforms
  • Week 12: Applying Strategic Audit 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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