Module Details

Module Code: LEGS7012
Title: Regulation and Ethics
Long Title: Regulation and Ethics
NFQ Level: Intermediate
Valid From: Semester 1 - 2016/17 ( September 2016 )
Duration: 1 Semester
Credits: 5
Field of Study: 3800 - Law
Module Delivered in: 2 programme(s)
Module Description: This module will introduce students to the regulatory framework governing the accountancy profession. The key legal rules, ethical guidelines and professional codes of practice which impact on the profession will be examined.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Explain the meaning of Ethics and identify potential ethical issues in the context of accountancy
LO2 Describe and contrast rules based and framework approaches to ethics
LO3 Explain the aims and fundamental principles of professional Codes of Practice in accountancy
LO4 Examine the role of regulatory bodies in the accountancy profession in Ireland
LO5 Describe the range of specific legal rules which regulate aspects of the work of professional accountants
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
No requirements listed
 
Indicative Content
Ethics and Professional Practice
The meaning of ethics. Ethical theories. The importance of ethics for the Accountancy profession. Examples of ethical dilemmas in practice. The consequences of unethical practices.
Approaches to Ethics
Rules based approaches - legal rules which seek to ensure ethical practice. The advantages and disadvantages of a rules based approach. The framework approach to ethical practice. The development of a principles based approach. The difficulties of compliance.
Codes of Practice
The function of a Code of Practice. The International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants. Codes of Practice of recognised accountancy bodies. Aims and fundamental principals. Implementation of codes through a disciplinary code. Disciplinary panels and tribunals within the professional accountancy bodies.
Regulatory Bodies
The regulatory framework for accountants in Ireland. The Irish Auditing and Accounting Supervisory Authority (IAASA) - membership, aims and functions. The nine recognised professional accountancy bodies - disciplinary procedures and sanctions
Legal Rules
Specific legal rules governing accounting. Legal rules governing incorporation. Operating as a sole trader or partnership. Professional negligence and negligent misstatement. Reporting obligations and money laundering legislation
Module Content & Assessment
Assessment Breakdown%
Coursework30.00%
End of Module Formal Examination70.00%

Assessments

Coursework
Assessment Type Short Answer Questions % of Total Mark 30
Timing Week 10 Learning Outcomes 1,2,3
Assessment Description
Exam based on mini case studies involving ethical issues. Candidates will be required to identify the ethical issue, select and apply aspects of a Code of Practice to resolve the issue.
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,3,4,5
Assessment Description
Formal end of semester examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Class based instruction Every Week 3.00 3
Independent & Directed Learning (Non-contact) Non Contact Independent research and reading Every Week 4.00 4
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Independent Learning Non Contact Independent reasearch and reading Every Week 5.00 5
Lecture Contact Class based instruction Every Week 2.00 2
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • CIMA. Fundamentals of Ethics, Corporate Governance and Business Law, 1st. Chapters 6,7, Kaplan, London, [ISBN: 9780857329615].
Supplementary Book Resources
  • Vaeni McDonald. (2015), An Introduction to Business Law, 2nd. Chapters 15,16, 17, Institute of Chartered Accountants Ireland, Dublin, [ISBN: 978191037433].
  • Iris Stuart, Bruce Stuart, Lars J. T. Pedersen. (2014), Accounting ethics, Chichester; John Wiley & Sons, [ISBN: 9781118542408].
  • Ken McPhail and Diane Walters. (2009), Accounting and business ethics, London [England] ; Routledge, 2009., [ISBN: 9780415362368].
  • Gordon Klein. (2015), Ethics in Accounting: A decision making approach, Wiley, London, [ISBN: 9781118928332].
This module does not have any article/paper resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 4 Elective
CR_BACCT_7 Bachelor of Business in Accounting 4 Elective