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Accessibility statement
Qualification dates
StartEnd
03 Oct 2026Mar 2027
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
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.
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:
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.
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.
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