MODULE HANDBOOK

2019-20

ACCO1145:

CORPORATE GOVERNANCE, ASSURANCE

AND AUDIT
Contents
1. Welcome to the Module......................................................................................................... 2
2. Key Contacts......................................................................................................................... 4
3. Key Module Specification Details..........................................................................................5
4. Enquiry-Based Learning and Research-Led Teaching..........................................................6
5. Employability Skills Gained................................................................................................... 7
6. Key Dates.............................................................................................................................. 7
7. Schedule of Teaching and Learning Activities.......................................................................8
8. Assessment Tasks................................................................................................................. 9
9. Re-Sit Assessments............................................................................................................ 10
10. Reading Lists................................................................................................................... 11
11. Glossary of Terms............................................................................................................ 11
12. Other Details.................................................................................................................... 11

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1. Welcome to the Module
Welcome to the module: Corporate Governance, Assurance and Audit (ACCO1145). The ethics
of firms and governments has attracted media interest. Barclays is remembered for rigging the
LIBOR rate and therefore trading at an advantage over its customers and competitors. Hewlett-
Packard (HP) scandal is another example that involved subsidiaries who were involved in bribes
to government officials to win public contracts.

The global financial crisis has further brought to light the problems in ethics. This crisis had a
widespread impact on shareholders, businesses, financial institutions, governments, and other
local and global organisations. This economic downturn has partly been blamed on the failure of
corporate governance and regulation among financial institutions. The failure has meant that
institutions need experts with knowledge about corporate governance and regulation.

Overall, this course will help us to apply the theory of accounting and finance to the world around
us. It will provide a background on the history and nature of corporate governance in the UK and
around the world and discuss current issues on the subject. We will also examine audit systems
as a way of regulating institutions.

As your course leader I can be contacted for any queries you have concerning the course.

Patricia Ntozi-Obwale (Patti)

Email : [email protected]

This handbook provides essential information that you will need during your undertaking of this
module. It is not intended to be exhaustive, but should help you to see at a glance key
information about the module such as the aims and learning outcomes, the proposed schedule
of delivery, assessment details, reading list and any additional resources that will be needed by
you. Please ensure that you familiarise yourself with its contents.

The university will do all that it reasonably can do to provide educational services to support your
learning. Sometimes circumstances may mean that we cannot provide such educational
services or that the university has to withdraw or change aspects of this module and/or student
services detailed in the information you have been provided with by the university. This might be
because of, for example:

 industrial action by university staff or third parties;

 the unanticipated departure or absence of key members of university staff;
 acts of terrorism;
 the acts of any government or local authority;
 academic changes within subject areas; or
 where the numbers expected on a module are so low that it is not possible to deliver an
appropriate quality of education for students enrolled on it.

In these circumstances, the university will take all reasonable steps to minimize the resultant
disruption to those services and to affected students, for example by making reasonable

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modifications, but to the full extent that it is possible under the general law, the university
excludes liability for any loss and/or damage suffered by any applicant or student as a result of
these circumstances.

The modifications we make may be to:

 the content and syllabus of modules, including in relation to placements;

 the timetable, location and number of classes;
 the content or method of delivery of your module;
 the examination process; and
 the timing and method of assessment

Many of the changes that we make are in response to feedback from students and are intended
to improve the experience of students and student outcomes.

In making any changes, the university will aim to keep significant changes to the minimum
necessary and will notify and where reasonably possible also consult with you in advance about
any significant changes that are required.

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2. Key Contacts
The list below summarises the contact details of key individuals relevant to this module.

Module Leader: Patricia Ntozi-Obwale Location: QA259

Email: [email protected]
Tel: 020 8331 9895
Office hours: Friday 4-5pm

photo
Module Lecturer: Andrew Gambier Email: [email protected]
External Examiner: Dr. Judith Wylie

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3. Key Module Specification Details
Department: Accounting and Finance
Number of Credits: 15
Term of delivery: Term 2
Site of delivery: Greenwich Maritime site

Pre-requisites/Co-requisites: None

Aims:

Accountability of those in charge of corporate governance is a key aspect of today’s expected

ethical corporate behaviour. The “UK code of Corporate Governance’, which is an important ele-
ment of accountability, will be discussed on this module. Assurance and Audit, will form a major
part of this module. This is a key function to ensure credible external reporting (external audit)
and optimum and effective internal control over day-to-day and corporate governance policy op-
erations. Assurance services cover many other fields, including non-financial audit, VFM audit,
environmental audit and verification services. The module will aid the student to a broader per-
spective of any organisation’s interconnected systems and controls.

Learning Outcomes:

On successful completion of this course you will be able to:

1. Critically understand the underlying theories of Corporate Governance

2. Analyse Corporate Governance reforms in the UK with critical examination of their
application and relevance and discuss topical areas in Corporate Governance
3. Examine the international dimension of Corporate Governance in the US, Europe, and
elsewhere in the world and make comparisons with the UK system.
4. Evaluate the role of institutional Investors in UK Corporate Governance

5. Assess the vital role of internal audit in corporate governance; particularly entity wide
risks and controls

6. Critically examine the audit risk approach to audit

7. Evaluate the role of audit evidence and discuss the nature of Audit review and Reporting

8. Evaluate the concepts of auditing to other areas of verification, certification and compli-
ance

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 4. Enquiry-Based Learning and Research-Led Teaching
Enquiry-Based Learning (EBL)

Defined as ‘an approach based on self-directed enquiry or investigation in which the student
is actively engaged in the process of enquiry facilitated by a teacher. EBL uses real life
scenarios (for example, from case studies, company visits, and project work) and students
investigate topics of relevance that foster the skills of experimental design, data collection,
critical analysis and problem-solving’.

This module will examine multiple case studies of the practices in companies and
Government codes. Students will analyse these further for their report and group presentation.

Research-Led Teaching (RLT)

An element of Enquiry Based Learning links to RLT, which involves faculty introducing
students to their own research where it is relevant to the curriculum being taught as well as
drawing on their own knowledge of research developments in the field, introducing them to the
work of other researchers. RLT sees students as active participants in the research process,
not just as an audience. This is achieved by discussing such developments in lectures and
classes, and setting reading lists including recent research publications at the frontier of the
field. The definition of a diverse assessment regime at the programme level (incorporating an
expectation of familiarity with, and use of, such publications in assignments) and the inclusion
of projects at every level of the programme is also fundamental to achieving these objectives.

Teaching and Assessment on this module will be highly dependent on research in the topic
areas of corporate governance, assurance and audit. Students will be expected to include
recent and relevant research work as evidence in their report and group presentation.

BAME/ Inclusive

Learning is designed to ensure that the curriculum is inclusive and that the diversity of the stu-
dent body is taken into account. This module is taught by staff from diverse backgrounds who
both appreciate the need for inclusivity. The module provides examples relating to experi-
ences in various contexts with awareness about the need to be inclusive of students from
BAME. We emphasise on clear language in lecture materials and all handouts, presentations
and all course lectures are accessible via Moodle. Assessment guidance is also given in
good time to help students adopt to the assessment style.

International

This module is delivered only at the University of Greenwich.

 Cases from various countries in other parts of the world are provided in the lecture.
Students are encouraged to write their individual report on a scenario from any part of
the world if they would like to.
 The teaching team has staff from different international backgrounds who have trav-
elled and can share their experiences.

5. Employability Skills Gained

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ACCO1145 is relevant to all students undertaking the Masters in the Accounting and Finance
Department given its applicability to all employees whether in business, government and the
general public. For instance, Directors and Non-Executive Directors of a business should be
educated about the codes of corporate governance to comply with them. Governments, on the
other hand, should consider the strengths and weaknesses of these codes for further
improvement and their relevance. In recent years we have had students from various countries
of the world, including some working with the Government who have found this course of
importance and have thoroughly enjoyed the debates. Finally, the general public and all
stakeholders of a business such as shareholders, creditors, debtors, and customers should be
aware of the policies that Governments have put in place to meet the interests of the general
public.

This course will enable you to develop cognitive skills by providing opportunities to examine
and resolve ethical dilemmas and problems independently. You will also have opportunities to
make sensible assumptions in real life scenarios; reflect on the skills you have gained and on
the impact of the solutions you have proposed to ethical and governance problems.

As the assessment is a substantial written element you will enhance your written
communication skills emphasising clear formatting, spelling and grammar within a clear, well-
reasoned narrative.

a. Practical and Professional Elements

You will also become aware of and develop the attitudes and professional behaviors
required of accountants, auditors, bankers, financial advisers and investment managers. You
would be able to reflect on your own job-readiness regarding professionalism and ethical
values.

b. Organisational Awareness

You will further develop your knowledge of the consequences of the decisions taken by
businesses and key organizations and understand the environment in which they operate by
researching current ethical, corporate governance and auditing issues, trends and scandals.

6. Key Dates
2019/20 Term Dates

Please note that dates may differ depending on when you start your programme of study, and
where you are studying. Please refer to https://docs.gre.ac.uk/rep/sas/term-dates for full details,
and details of University closure dates.

Welcome Week 16th September 2019 20th September 2019

Term 1 23rd September 2019 13th December 2019
Examination Period 06th January 2020 10th January 2020
Term 2 13th January 2020 03rd April 2020
Examination Period 27th April 2020 15th May 2020
Resit Examination Period 20th July 2020 24th July 2020

7. Schedule of Teaching and Learning Activities

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The module will use formal lectures to enable students to obtain the necessary knowledge
required. In addition, learning will take place through interactive seminars, using case studies,
internet material, videos and radio broadcasts. Seminars will be used for students to develop
and demonstrate their evaluation and critical understanding of Corporate Governance,
Assurance and Audit in modern corporations.

Sessions
Wk Session Title and Description Reading to complete
18 Theories of Corporate Governance (Patti) Solomon, Chapter 1
17th Jan
19 Corporate Governance Reform in the UK (Patti) Solomon, Chapter 3
24th Jan
20 International Corporate Governance (Patti) Solomon, Chapters 7,8
31st Jan
21 The Role of Institutional Investors in Corporate Solomon, Chapter 5
7th Feb Governance (Patti)

22 Internal Control Systems and Procedures (Andrew) Hayes, Dassen,

14th Feb Schilder and Wallage,
Chapter 1-2-3
Course work submission date on Monday 17th Feb
(70% mark)
23 Nature of Audit, Framework and Regulation (Andrew) Hayes, Dassen,
21st Feb Schilder and Wallage,
Chapter 7-8

24 Audit Planning and Risk Assessment (Andrew) Hayes, Dassen,

28th Feb Schilder and Wallage,
Chapter 9-10

25 Audit Review and Reporting (Andrew) Hayes, Dassen,

6th Mar Schilder and Wallage,
Chapter 9-10
Guidance on Group Presentation
26 Group Presentations (30% of total mark)
13th Mar Group Presentations
27 Coursework and Presentation feedback session (drop
20th Mar in session)
28 Coursework and Presentation feedback session (drop
27th Mar in session)
29 Coursework and Presentation feedback session (drop
3rd Apr in session)

8. Assessment Tasks

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The overall pass mark for this module is 40%

Assessment Schedule

Assessmen Length Weight Learning Submissio Anonymous Anticipated Header

t Title towards Outcomes n Submission Return Sheet
Module Date Required? Date number
grade
Individual 70% 3000 25.02.20 3 weeks Individual 70%
Coursework words Coursework
Essay (an Essay (an
anonymous anonymous
submission) submission)
Group 30% Minimu 13.03.20 3 weeks Group 30%
Presentation m of 15 Presentation
and Slides slides and Slides

1. Return of marked work with feedback will normally be given up to 15 working days after the due date
indicated. In exceptional circumstances where you experience a delay in receiving this then you will be
informed by the tutor.
2. The timetable for examinations will be available closer to the examination period.

Assessment Details

Individual Coursework Essay (70% of final mark) for 25th February 2020
Consider a case study of one listed company on a stock market of your choice and present a 3000 word
essay discussing its position on corporate governance. You will explain the practice of corporate
governance in the company and its level of compliance to corporate governance recommendations.
Discuss any weaknesses in corporate governance that you identify.
In your answer please ensure that your essay has a strong academic foundation including theory,
empirical evidence and references. If you use material from case studies or company websites remember
that these need to be properly quoted and referenced just like all other sources.

Marking Criteria for Individual Coursework Marks

allocated
to criteria:
Focus 20
Does the essay set up a clear essay question to address? Does the essay stay within
and fulfil the topic parameters?
Synthesis 20
Does the essay bring together the literature in a significant manner that addresses an
essay question?
Soundness 20
Does the essay indicate a comprehensive understanding of the topic area and literature
discussed?
Clarity of structure 10
Is the essay well organised and logically constructed to achieve synthesis while being
mindful of the needs of the reader?
Mechanical Soundness 10
Is the essay clearly written, spell checked and grammatically sound?
Referencing 20
Is their academic integrity with correct referencing?

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 Group Presentation (30% of final mark) for 13th March 2020
Consider a case of a single company that encountered problems with their audited accounts. Undertake
an in-depth analysis of the company and auditors to examine the reasons, both internal and external, that
may have led to the failures in audit.
Alternatively,
Choose an audit topic that has been discussed in class and examine it in detail looking at academic
literature, theory and any merits or demerits.
Groups of 2 to 3 students should present to the class giving each student a 5-minute slot therefore giving
member of the team a chance to speak. A minimum of 15 slides should be considered. These slides will be
submitted on Moodle by 3pm on 13th March 2020.
The presenters should consider use of the audit theory learnt in the lectures and show an understanding
of the academic literature on the subject area. Knowledge of audit theory should also come across in the
presentation.

Marking Criteria for Presentation Marks

allocated
to criteria:
Focus 20
Does the presentation set up a clear question to address? Does the presentation stay
within and fulfil the topic parameters?
Synthesis 20
Does the presentation bring together the discussion in a significant manner that
addresses the question?
Soundness 10
Does the presentation indicate a comprehensive understanding of the topic area and
literature discussed?
Clarity of structure 10
Is the presentation well organised and logically constructed to achieve synthesis while
being mindful of the needs of the listeners?
Mechanical Soundness 10
Are the slides clearly written, spell checked and grammatically sound?
Referencing 10
Is their academic integrity with correct referencing in slides?
Audibility and ability to Convince Audience 10
Are the presenters audible and clear for the audience to follow? Do they speak in such a
manner that is convincing to the listeners?
Participation 10
Does every member of the group get involved in presentation

9. Re-Sit Assessments
The Progression and Award Board (PAB) will determine whether students who have failed items
of coursework or exams will be permitted to complete re-sits. These normally take place in
July/August. If your results letter advises you that you have been given a re-sit opportunity you
will need to check the portal for details of the assessment element(s) that you will need to
complete and for the timings of re-sit examinations.

For non-exam re-sits (e.g. coursework, essay, presentation, group work assessments), please
consult the relevant Module’s Moodle page for instructions on what is required of your re-sit
assessment. The due date will be Wednesday 8th July 2020.

The resit coursework will follow the same question and guidelines given in Section 8 above
under Assessment Tasks.

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 You should be aware that there is no automatic right to take re-sits; this is at the discretion of the
PAB and dependent on the scale of failure and your overall profile. If you are offered a re-sit
opportunity which you do not take up, you will be recorded as having a non-submission; you will
not keep the original grade for that item if you are told by a PAB that they want you to re-sit.

10. Reading Lists

Author Title Publisher ISBN

Jill Solomon Corporate Governance and Wiley 9781118449103
Accountability (paperback)
9781118699263 (e-book)
978111869249
(e-book)
Hayes, Dassen, The Principles of Auditing – An FT
Schilder and Introduction to International
Wallage Standards on Auditing

11. Glossary of Terms

Pre-requisites/Co-requisites This describes the learning you are expected to have
completed before starting the module or the learning (or
other modules) that you should be undertaking alongside it.
Aims These define the overall educational purpose of the module
Learning Outcomes These are subject specific statements that define the
learning that will be assessed during this module
Assessment Weight This refers to the proportion of the overall result for the
module that is based on your performance in each of the
assessment tasks

12. Other Details

The majority of information relevant to you while you study at the University has been brought
together into your programme handbook. Please refer to your programme handbook for any
further information you might require including:

 Deadlines and extenuating circumstances,

 Plagiarism and referencing,
 Who to go to for advice or if you are concerned,
 How to provide us with feedback,
 Key administrative procedures.

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