Module Details

Module Code: ACCT9012
Title: Fund Reporting and Risk Mgmt.
Long Title: Fund Reporting and Risk Management
NFQ Level: Expert
Valid From: Semester 1 - 2021/22 ( September 2021 )
Duration: 1 Semester
Credits: 5
Field of Study: 3440 - Accounting, Auditing and Accountability
Module Delivered in: 1 programme(s)
Module Description: In this module participants will examine the different basis on which investment funds prepare their financial statements and the financial statements themselves. Students will consider the various methods that can be used to evaluate investment fund performance and the issues therein. Some of the key regulatory pronouncements that determine how funds report and disclose their performance and their risk management will also be addressed. This will inform a more detailed investigation around risk management processes both at a fund level and an operational level.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Discuss the framework for reporting fund performance.
LO2 Interpret the salient aspects of financial reporting standards that are applicable to investment fund reporting.
LO3 Evaluate the financial statements of an investment fund.
LO4 Discuss how an investment fund and investment fund administration company can identify, measure and manage risk.
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
Basis of preparation
Basis of preparation of financial statements: US GAAP, I GAAP and FRS 102 & SORP.
Financial statements
Financial statements of an Investment Fund.
IFRS
IFRS – relevant standards: definitions, fair value measurement, disclosure (elements of IAS 32, 39, IFRS 7, IFRS 9 and IFRS 13).
Measuring fund performance
Measuring Fund Performance, key risk and performance indicators of a fund.
Framework
Risk Management Framework.
Regulatory aspects of risk management
Regulatory aspects of risk management and obligations.
Identifying and measuring risk
Identifying and measuring risk (including liquidity risk, market risk, mispricing risk, misallocation risk….).
Value at Risk
VaR – a quantitative measure of risk; application, assumptions and limitations.
Derivatives
Using derivatives to manage risk.
Module Content & Assessment
Assessment Breakdown%
Coursework100.00%

Assessments

Coursework
Assessment Type Other % of Total Mark 100
Timing n/a Learning Outcomes 1,2,3,4
Assessment Description
Assessment
No End of Module Formal Examination
Reassessment Requirement
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.

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 No Description Every Week 2.00 2
Independent Learning Non Contact No Description Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 2.00 2
Independent Learning Non Contact No Description Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Choudhry, M. and C. Alexander.. (2013), An Introduction to Value at Risk, 5th ed.. Chartered Institute for Securities and Investment.
  • Illustrative IFRS Financial Statements 2020 – Investment Funds Ireland, PwC, Ireland.
  • (2014), SORP of Financial Statements of UK Authorised Funds, The Investment Association, UK.
  • KMPG. (2020), Illustrative Financial Statements – Hedge Funds Ireland.
  • KMPG. (2020), Illustrative Financial Statements – Private Equity Funds, Ireland.
Supplementary Book Resources
  • Camilleri, E. and R. Camilleri.. (2017), Accounting for Financial Instruments: A Guide to Valuation and Risk Management, Taylor & Francis, UK.
  • Connolly, C.. (2018), International Financial Accounting and Reporting, 6th ed.. Chartered Accountants Ireland, Ireland.
Supplementary Article/Paper Resources
  • Conti, C. and A. Mauri.. Corporate Financial Risk Management: Governance and Disclosure Post IFRS 7, The Icfai University Journal of Financial Risk Management, 5(2), 2008, 20-27,
    https://ssrn.com/abstract=1141102
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BIFAD_9 Master of Business in Investment Fund Administration 4 Mandatory