Audit
Understanding Auditor Ethics and Liability
Ethical Principles, Threats, Safeguards, and Auditor Liability in Assurance Engagements
5 CPD credits on completion
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Certificate on completion
Downloadable resources
Self-paced learning
About This Course
Course Information
Auditors need to understand and apply the principles of establishing liability in a particular situation, as well as be able to discuss the ways in which liability may be limited.
Certificate on Completion
This course is made up of videos, questions and additional reading materials, and accounts for 5 units of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- Introduction to assurance (video)
- Introduction to assurance (quiz)
- Ethics: principles, threats and safeguards (video)
- Ethics: principles, threats and safeguards (quiz)
- Ethics: potential issues (video)
- Ethics: potential issues (quiz)
- Ethics: Quality control (video)
- Ethics: Quality control (quiz)
- Ethics: Example (video)
- Ethics: Example (quiz)
- Auditor liability (video)
- Auditor liability (quiz)
What You Will Learn
- Explain the three-way relationship in assurance engagements and distinguish between high-assurance and low-assurance engagements
- Identify the five fundamental ethical principles: integrity, objectivity, professional competence, confidentiality, and professional behaviour
- Recognise familiarity, self-review, self-interest, advocacy, and intimidation threats, and apply appropriate safeguards to each
- Describe confidentiality exemptions including legal duty, public interest, and money laundering reporting obligations
- Evaluate quality control procedures at both practice and individual assignment level, including hot and cold reviews
- Assess auditor liability to shareholders and third parties, including the role of duty of care, negligence, and third-party disclaimers
- Apply ethical principles to scenarios involving conflicts of interest, opinion shopping, and changes in professional appointment
Who This Course Is For
- Auditors and audit trainees who need to understand how ethical codes apply in practice
- Accountants involved in assurance engagements who want to strengthen their knowledge of threats and safeguards
- Finance professionals preparing for roles that involve audit quality control or client management
- Compliance officers responsible for anti-money laundering procedures within audit firms
Prerequisites
- A basic understanding of what external audit involves and the role of the auditor
- No prior knowledge of the ACCA code of ethics is required, as the course covers the principles from the ground up
Frequently Asked Questions
Course Details
CPD Credits5
CertificateYes
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CPD certificate on completion
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Self-paced learning
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