The regulatory environment drives an entity's financial reporting and external audit requirements. Finance professionals in management accounting should gain a full understanding of the regulatory environment in which their organisation operates and how to apply the requirements of laws, standards, and guidelines.
Learning Objectives
• Identify the major regulators and the need for regulation of financial reporting.
• Identify other regulatory bodies and their roles in the standard-setting process.
• Identify the need for and approaches to corporate governance.
• Identify the need for and types of internal controls.
Major Topics
• Major regulators
• Other influencing bodies and considerations in the regulatory environment
• Corporate governance principles
• Internal control
