Principles of Governance and Audit

The aim of this paper is to develop and examine your detailed understanding of the components of corporate governance and auditing, including the evaluation of the risk of misstatement in financial statements and evidence procedures used in audit practice, and your ability to apply this knowledge to practical scenarios and situations.

Learning outcomes:

1. Justify the need for good governance within companies and other organisations and relate that to the assurance provided by the auditor
2. Present the components of a modern external audit from acceptance of a new client to drafting the audit opinion
3. Determine business risks and audit risks associated with specific audit assignments
4. Apply audit principles and theory to develop a detailed audit plan for items within the financial statements; and
5. Apply audit principles and theory in the preparation of reports to management, shareholders and those charged with governance.

In addition to comprehensive syllabus targeted material our Learning & Practice Workbook offers:

• Exam focus - we have taken account of recent exams, guidance the examiner has given and the assessment methodology
• Help to study in the way that best suits your learning style and the time you have available
• Assistance with creating a personal study plan
• A way to review your progress through Fast forwards, Exam focus points, Chapter roundups and Quick quizzes
• Exam question bank containing AIA exam-standard questions with answers