Internal audit and control, insolvency, climate-related risks and ethical issues

What this note covers

1. Internal control: the safety net behind every set of accounts
2. Internal audit: an ongoing, independent check on the controls
3. Planning, goals and managing risk: the accountant's wider role
4. Insolvency under the Corporations Act 2001: three different pathways
5. Order of priority of distribution: a worked liquidation example
6. Climate-related risks, opportunities and Scope 1, 2 and 3 emissions
7. Ethical issues: naming the specific problem, not just "dishonesty"
8. How this topic is examined and what separates a top response

8 sections · 12 key terms & formulas · 6 common mistakes