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Level 7 Diploma in Accounting and Finance

Emerging Assurance Horizons and Regulatory Reforms

AF705 · Strategic Audit — Week 11 of 16

CourseAF705
Week11 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Emerging Assurance Horizons and Regulatory Reforms

  1. Sustainability, climate, and ESG reporting assurance (ISSA 5000)
  2. Non-financial information audit frameworks
  3. Post-crisis audit market reforms and joint audits
  4. Strategic impact of emerging reporting standards on firm governance
  5. Presentation of "The Role of the Board in a Sustainability Era” Board ESG Pulse Check Study
  6. IMM in Practice: Practices, Standards, and What’s Next

What you will be able to do

  • 1.1 Assess the historic and current auditing regulatory environment.
  • 5.1 Assess current developments in auditing.
  • 5.2 Assess the importance of the current developments in audit processes.

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

  • Presentation of "The Role of the Board in a Sustainability Era” Board ESG Pulse Check Study · YouTube · INSEAD · 35 min · for registered students
  • IMM in Practice: Practices, Standards, and What’s Next · YouTube · Saïd Business School, University of Oxford · 63 min · for registered students
  • Perspectives series: The state of assurance for sustainability disclosure · YouTube · IFRS Foundation · 44 min · for registered students
  • ICAEW Insights In Focus: Where next for audit and governance reform? · YouTube · ICAEW · 35 min · for registered students

Further resources

  • The Impact of Corporate Sustainability on Organizational Processes and Performance · PDF · NBER, article · for registered students
  • G20/OECD Principles of Corporate Governance 2023 · PDF · Oecd, framework; 53 pages · 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 10Week 12
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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