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Accessibility statement

An image to illustrate Governance, audit and assurance module

Audit and assurance processes play a vital role in upholding business integrity. This module takes you into the role of an auditor to learn how they provide assurance that financial statements are a true reflection of business performance. You’ll explore how corporate governance mechanisms help create an effective system of checks and balances, and how external and internal audit functions work together. As you appreciate the credibility that auditors bring to the reporting process, you'll be able to explain different types of assurance engagements and audit opinions. Alongside this, you’ll study essential accounting theoretical principles and practical applications.

This module provides you with the competencies and skills required for carrying out audits in a professional environment. You’ll learn how audit processes work, how different types of data are examined and audited and how auditors execute audits of financial statements. The following topics will be covered.

Unit 1: An introduction to auditing and corporate governance

Unit 2: Audit planning and risk assessment

Unit 3: Internal control and internal audit

Unit 4: Audit evidence and procedures

Unit 5: Review and reporting

Unit 6: Emerging issues in auditing

This module forms part of the BSc (Hons) Accounting and Finance (R52) which has been granted exemptions by the Chartered Institute of Management Accountants (CIMA) towards its CGMA qualification.

You’ll get help and support from an assigned tutor throughout your module.

They’ll help by:

Online tutorials run throughout the module. While they’re not compulsory, we strongly encourage you to participate. Where possible, we’ll make recordings available.

Course work includes:

This module includes a remote exam you will take at home or another suitable location. The exam will be invigilated online by ProctorU, a service based outside the UK with whom you must agree to additional Terms of Service to study this module. Find out more about online invigilation.

You’ll have access to a module website, which includes:

You can study this module on its own or use the credits you gain towards an Open University qualification.

B351 is a compulsory module in our:

Governance, audit and assurance starts once a year – in October.

This page describes the module that will start in October 2026.

We expect it to start for the last time in October 2032.

As a student of The Open University, you should be aware of the content of the academic regulations, which are available on our Student Policies and Regulations website.

You must have successfully completed Financial accounting (B250) before you can register for this module. In addition, you'll be required to use a calculator and Excel spreadsheets.

The module begins with a review of prerequisite knowledge and skills. If you haven't studied accounting recently, this will help refresh your understanding and build confidence before moving into new material.

The OU strives to make all aspects of study accessible to everyone, and this Accessibility Statement outlines what studying B351 involves. You should use this information to inform your study preparations and any discussions with us about how we can meet your needs.

To find out more about what kind of support and adjustments might be available, contact us or visit our Disability support website.

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There may be extra costs on top of the tuition fee, such as set books, a computer and internet access.

If your income is not more than £25,000 or you receive a qualifying benefit, you might be eligible for help with some of these costs after your module has started.

The Open University Student Budget Accounts Ltd (OUSBA) offers a convenient 'pay as you go' option to pay your OU fees, which is a secure, quick and easy way to pay. Please note that The Open University works exclusively with OUSBA and is not able to offer you credit facilities from any other provider. All credit is subject to status and proof that you can afford the repayments.

You pay the OU through OUSBA in one of the following ways:

Joint loan applications

If you feel you would be unable to obtain an OUSBA loan on your own due to credit history or affordability issues, OUSBA offers the option to apply for a joint loan application with a third party. For example, your husband, wife, partner, parent, sibling or friend. In such cases, OUSBA will be required to carry out additional affordability checks separately and/or collectively for both joint applicants who will be jointly and severally liable for loan repayments.

As additional affordability checks are required when processing joint loan applications, unfortunately, an instant decision cannot be given. On average, the processing time for a joint loan application is five working days from receipt of the required documentation.

Read more about Open University Student Budget Accounts (OUSBA).

Studying with The Open University can boost your employability. OU courses are recognised and respected by employers for their excellence and the commitment they take to complete. They also value the skills that students learn and can apply in the workplace.

Over 30,000 employers have used the OU to develop staff so far. If the module you’ve chosen is geared towards your job or developing your career, you could approach your employer to see if they will sponsor you by paying some or all of the fees.

You can pay part or all of your tuition fees upfront with a debit or credit card when you register for each module.

We accept American Express, Mastercard, Visa and Visa Electron.

We know that sometimes you may want to combine payment options. For example, you may wish to pay part of your tuition fee with a debit card and pay the remainder in instalments through an Open University Student Budget Account (OUSBA).

Please note: your permanent address/domicile will affect your fee status and, therefore, the fees you are charged and any financial support available to you. The fee information provided here is valid for modules starting before 31 July 2026. Fees typically increase annually. For further information about the University's fee policy, visit our

Fee Rules

This module will next start in the 2026/27 academic year and will open for registration on the 25th of March.