Module Title:Commercial/Corporate Law for Accountants
Language of Instruction:English
Credits: 10
NFQ Level:7
Module Delivered In No Programmes
Teaching & Learning Strategies: Formal lectures will be supplemented by discussion and group work, based on simulated scenarios and case studies. The module will be supported by on-line learning materials with an emphasis on self-directed independent learning.
Module Aim: On completion of this module students will be equipped with an overview of Commercial/Corporate Law, its application and relevance to members of the accounting profession, or providers of auditing services, in their interactions with business entities, integrating the Ethical and Regulatory environment in which they operate.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Distinguish, interpret, develop and apply aspects of the law of relevance to accountants relating to the structuring of business entities, the regulatory and best practice governance frameworks within which they operate, and the fostering of ethical cultures in the profession.,
LO2 Demonstrate and apply knowledge of company officers of key significance for accountants, including directors, the statutory auditor, and the company secretary, and demonstrate an appreciation of the division of power between the board and shareholders.
LO3 In the context of the accounting profession, explain the circumstances of appointment, rights and duties of receivers, liquidators and examiners and the effect of their appointment on key stakeholders.
LO4 Discuss and apply the main sources of employment law in Ireland of relevance to business entities interacting with the accounting profession, in the context of our membership of the EU.
LO5 Assess and critically evaluate aspects of commercial law of relevance to the accounting profession including the law of agency, and appreciate the distinction between the different types of credit and security and their relevance to business entities.
LO6 Distinguish between the different types of Capital, its maintenance and distribution in the context of the interaction of business entities with the accounting profession.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
7265 LAWS H1302 Business Law
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
No requirements listed
 

Module Content & Assessment

Indicative Content
Overview of Statutory Frameworks and ethical standards for Accountants
Types of Entity Structure – Corporate, Partnerships, Sole Trader. Methods and means of Regulation (Rules based and Principles based) and Enforcement of Business entities and the Accounting Profession in Ireland/EU.
Aspects of Commercial Law
Introduction to the Law of Agency; consequences of agency relationship, liability of agent, authority of agent, Commercial Agents (CAR) Introduction to Credit Facilities and Corporate Borrowing, Types of Security interests; real, possessory, liens, pledges, charges, personal guarantees, letters of comfort, retention of tile security arrangements.
Financial Regulation for entities interacting with Accountants
Capital Maintenance- Corporate Borrowing, Company Securities , Preparation, Regulation, and Filing of Accounts/Financial Statements, Filing, Audit and Audit Committees, maintenance of registers. Distribution of Capital.
Corporate Governance for Accountants
Shares and Shareholder Rights, Directors duties, compliance statements, Enforcement, Meetings. Company Secretaries – qualifications, duties, powers, Auditors- Financial Statements, qualifications, appointment and remuneration of auditor, auditors’ rights and duties The Role of the Board, Audit Committees and Risk Management, Small and Micro companies Abridged Financial Statements. Balance of Control
Role of Accounting profession in Insolvency
Receivership – role of receiver, qualifications, duties and powers. Examinership – role of examiner, qualifications, examiners’ duties and powers, role of independent expert. Liquidation – role and qualifications of liquidator, Principal duties of liquidators, Liquidators’ powers, Types of Liquidation – Members’ Voluntary Liquidation, Creditors’ Voluntary Liquidation, Compulsory Liquidation.
Employment Law for Accountants
Contract of Employment, Statutory regulation, Adjudication of Disputes (WRC), Ending the Employment relationship, Employment Equality.
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%
No Continuous Assessment
No Project
Practical
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Practical/Skills Evaluation MCQ/Problem Solving Scenario 5,6 30.00 n/a
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam n/a 1,2,3,4,5,6 70.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 6.00
Independent Learning Every Week 12.00
Total Hours 18.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 3.00
Independent Learning Every Week 15.00
Total Hours 18.00