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Level 7 Diploma in Accounting and Finance

Legal and Statutory Responsibilities of Auditors

AF705 · Strategic Audit — Week 3 of 16

CourseAF705
Week3 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Legal and Statutory Responsibilities of Auditors

  1. Companies Act statutory duties and obligations
  2. Auditor appointment, resignation, and removal procedures
  3. Auditor liability, tort, and duty of care
  4. Evaluating legal compliance on audit quality

What you will be able to do

  • 2.1 Explain the legal and professional requirements when completing an audit.
  • 2.2 Evaluate the importance of the legal and professional requirements on the performance of an audit.

Activity

Seminar, guided reading and a short written task: explain the legal and professional requirements when completing an audit.

Study materials

Videos

  • ICAEW Insights In Focus: The BEIS White Paper - how do we measure audit quality? · YouTube · ICAEW · 33 min · for registered students

Further resources

  • Companies Act 2006 · Reading · legislation.gov.uk, legislation · for registered students
  • ISA (UK) 200: Overall Objectives of the Independent Auditor (updated September 2025) · PDF · Frc, framework · for registered students
  • Annual Review of Audit Quality 2026 (FRC) · PDF · Frc, report · 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
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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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