This Advanced Level course enables students to apply technical knowledge, analytical techniques and professional skills to resolve compliance and business issues that arise in the context of the preparation and evaluation of corporate reports and from providing audit services. Students will be required to use technical knowledge and professional judgement to identify, explain and evaluate alternatives and to determine the appropriate solutions to compliance issues, giving due consideration to the needs of clients and other stakeholders. The commercial context and impact of recommendations and ethical issues will also need to be considered in making such judgements.
On completion of this course students will be able to:
This module assumes and develops the knowledge and skills acquired in the Financial Accounting and Reporting module and in the Audit and Assurance module. Background knowledge based upon the strategic elements of the Business Planning: Taxation, Business Strategy and Financial Management modules will also be required in evaluating the business and financial risks of reporting entities.
The regulations relating to auditing and corporate reporting will have international application and are therefore based upon IFRSs and ISAs (UK). Knowledge of specific national standards will not be tested.
Ethical codes will be those issued by IESBA and ICAEW. The ethical implications will be at both the organisational level and for individuals, particularly with respect to the accountant in business.
Method of assessment
The Corporate Reporting module will be assessed via a computer based assessment of 3.5 hours. Each exam will contain questions requiring integration of knowledge and skills, including ethics. Students will be allowed to take any written or printed material into the exam, subject to practical space restrictions. The exam will consist of three questions. Ethical issues and problems could appear in any of the three questions.
Each ICAEW Advanced classroom course will comprise a teaching phase, followed by a revision phase culminating in a timed final mock exam that is marked with detailed individual feedback.
All course materials will be provided, including ICAEW mandatory materials and Vale FT course notes.