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FAE Elective Information

Below outlines some of the key content delivered within each Elective. We also prepared a recording which will enable you to decide which Elective will help you as succeed in your in career as a Chartered Accountant. The Competency Statement 2020/21 (available soon) will provide a more in-depth breakdown of the topics focused on within each course.

Advanced Auditing and Assurance

Objective

The purpose of this course is to equip students with the necessary skills to manage audit assignments in conjunction with the Audit Engagement Partner.

Topic Summary

Engagement Management
Planning
Fieldwork
Reporting
Fraud, Laws and Regulation
Engagements other than audits usually performed by auditors

Learning Outcomes

On successful completion of this module students will have the ability to develop and clearly evidence:

Understanding of the objectives of audit reporting and the correct approach to arriving at reliable audit opinions
Proficiency in those technical subjects/knowledge areas that are relevant to the profession of auditor
Knowledge of the parameters and application of ethical standards and practices as they apply to the profession

In addition, candidates will demonstrate their ability to put into practice appropriate technical, ethical and reporting methods, practices and procedures in a variety of business situations and sectors.

Advanced Taxation (NI & ROI)

Objective

The purpose of this course is to provide students with a broader understanding of the framework in which taxation operates, to equip students with the necessary skills to advise on the taxation implications of decisions which trigger a potential capital taxation liability (from the perspectives of both transferor and transferee), to discuss the main VAT implications of specified key business decisions and to explain the interaction of applicable taxes in a given situation

Topic Summary

Lifecycle of Business and Capital Taxes Planning
International Taxation and Framework Taxation
VAT

Learning Outcomes

Lifecycle of a Business and Capital Taxes Planning

On successful completion of this module, students will have the ability to:

Advise clients on the structure and funding of their business
Review taxation implications of business decisions triggering a potential liability to Capital Taxes, from both the individual and corporate perspectives
Advise clients on optimising the tax outcomes of business decisions

International Taxation and Framework for Taxation

On successful completion of this module students will have the ability to:

Discuss and advise on the mechanisms available for the avoidance of Double Taxation
Advise on and manage the conduct of HMRC enquiries and investigations / Advise on and manage the conduct of a Revenue Audit

VAT

On successful completion of this module, students will have the ability to:

Discuss the main VAT implications of a property transaction and advise accordingly
Advise clients on the VAT outcomes of a change of ownership of a business

Advisory

Objective

The purpose of the course is to provide students with the skills necessary to fulfil the role of Chartered Accountant in an advisory role within an international business context.

Topic Summary

International Business - Strategy, Culture, Governance and Organisation
Decision Making in an International Context
International Treasury Management
Management Accounting and Performance Measurement
Leadership and Soft Skills

Learning Outcomes

On successful completion of this module students will have the ability to:

Assess the impact of international business on an organisation’s strategy, culture, governance and organisation
Provide good quality analysis to support decision-making in relation to international business opportunities
Advise on international treasury management issues
Understand management accounting and performance management in an international context and suggest ways of improving systems
Understand the functional effects of leadership on the culture of an organisation and the characteristics required to lead an organisation

Financial Services

Objective

The purpose of the course is to provide students with the skills necessary to fulfil the role of Chartered Accountant within the context of financial services.

Topic Summary

The Financial Services Environment
Business Lending – Credit Risk Assessment
Investment Funds
International Trade Risk Management Strategies and Products

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Learning Outcomes

On successful completion of this module students will have the ability to:

Provide an overview of the financial services sector and current developments therein
Demonstrate an understanding of business lending and how to analyse credit risk
Demonstrate an understanding of the investment funds industry and the legal and regulatory framework within which the industry operates
Understand the risks associated with international trade and advise on various risk management strategies and products

Public Sector

Objective

The purpose of the course is to provide students with the skills necessary to fulfil the role of Chartered Accountant within a public sector environment.

Topic Summary

Sources of Finance Available to Public Service Organisations
Financial Planning and Strategy Development in the Public Sector
Application of Tools and Techniques to Support Strategy Development and Delivery of Objectives

Learning Outcomes

On successful completion of this module students will have the ability to:

Discuss and evaluate the specific sources of finance available to public service organisations including grants, taxes, aid and charging
Discuss, analyse and evaluate the issues surrounding financial planning and strategy development in the public services and the role of finance manager in public service organisations
Discuss, evaluate and apply practical tools and techniques that support strategy development and delivery of objectives for public service organisations, including managing demand, effective business cases and appropriate performance management

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