AFM2104: Assurance, Risk and Reporting
Aims
To develop students’ understanding of the critical aspects of managing an assurance engagement (including audit engagements): acceptance, planning, managing, concluding and reporting.
To enable students to prepare complete single entity financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS® Standards).
Students will also be required to explain accounting and reporting concepts and the application of IFRS® Accounting Standards and IFRS® Sustainability Standards to specified single entity scenarios.
Teaching methods
Teaching activities
| Category | Activity | Number | Length (HH:MM) | Student Hours (HH:MM) | Comment |
|---|---|---|---|---|---|
| Scheduled Learning And Teaching Activities | Lecture | 30 | 02:00 | 60:00 | |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 01:00 | 06:00 | |
| Guided Independent Study | Assessment preparation and completion | 117 | 01:00 | 117:00 | |
| Guided Independent Study | Independent Study | 117 | 01:00 | 117:00 | |
| Total Hours | 300 | ||||
Teaching rationale and relationship to Learning Outcomes
Structured lecture material is used to provide the basic framework, demonstrate techniques and explain concepts and theory. Some lectures will include worked examples to develop problem-solving and technical skills which students can then practice. These are supported by small group seminars, workshops, student reading of texts and directed learning where students can practice questions to help them prepare for the final assessment.
Assessment methods
Exams
| Type | Length (mins) | Semester | When set | Percentage | Comments |
|---|---|---|---|---|---|
| Digital Written Examination | 180 | 2 | A | 60% | Open book |
Other assessments
| Type | Semester | When set | Percentage | Comments |
|---|---|---|---|---|
| Coursework | TBC | TBC | 40% |
Formative assessments
| Type | Semester | When set | Comments |
|---|---|---|---|
| Digital Written Examination | 2 | M | Mock Exam 180 mins |
Assessment rationale and relationship
This is examined using the ICAEW external examinations to obtain the accreditation. There are no alternative assessments. Accreditation requires in-person invigilated assessments by virtue of this module forming part of the ICAEW "Golden Four" assessments. It must be completed on the ICAEW software.