FAE Elective Information

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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

 

 

 

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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