Скачать или смотреть Understanding Professional Standards I Live Class I Part 2

📘 ICAN Triple A – Chapter 2: The Regulatory Environment

Welcome to this in-depth lecture on Chapter 2: The Regulatory Environment under the ICAN Triple A subject (Advanced Audit and Assurance). This session is tailored to guide professional students preparing for the ICAN exam—especially those gearing up for the new 2025 syllabus beginning with the November diet.

🔍 What We Covered in This Lecture:

In this comprehensive review, we explored the regulatory landscape that governs audit and assurance services, emphasizing both the Nigerian and global perspectives. Whether you're a first-time candidate or a re-sitter, this class helps demystify the concepts and gives clarity on how to approach the exam.

🧩 Key Areas Discussed:
1. The Need for Regulation of Audit and Assurance Services
We examined why regulation exists in the public interest—to enhance trust, reliability, and transparency in financial reporting, particularly in the wake of corporate scandals.

2. Professional Standards
A deep dive into international and national standards including the roles of:

IFAC (International Federation of Accountants)

IESBA Code of Ethics

ICAN, FRCN, and NBAA
We also highlighted how ethical standards shape auditor conduct.

3. Corporate Governance
We discussed frameworks and codes such as:

OECD Principles

UK Corporate Governance Code

Nigerian Code of Corporate Governance (NCCG 2018)
This section addressed how governance impacts audit quality and independence.

4. Money Laundering
An introduction to Anti-Money Laundering (AML) frameworks, obligations of auditors, red flags, and risk-based approaches to compliance. Key laws such as the Money Laundering (Prohibition) Act and EFCC Act were discussed.

5. Consideration of Laws and Regulations (ISA 250)
We examined how auditors handle legal and regulatory compliance, including direct vs. indirect effects, reporting obligations, and how to respond when non-compliance is detected.

📌 Highlights from the 2025 Syllabus Updates:
More emphasis on audit data analytics and digital transformation

Cybersecurity and sustainability assurance considerations

Expanded content on risk and compliance regulation

Greater focus on global developments and harmonization of standards

📺 Why Watch This?
This lecture is not just an academic session—it's a strategic guide for future auditors and professionals looking to excel under the new ICAN syllabus. It helps bridge the theory with practice, offering real-world insight to prepare you both for the exam and your career.

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