Diploma in Financial Management and Audit

Gain the knowledge and skills required to progress your professional accountancy career

Developed in partnership with industry experts and employers, this qualification offers a wide range of transferable skills that can be applied to many different finance and accounting contexts. It provides students with a nationally-recognised qualification in professional accounting and audit, and is suitable for those who:

  • aspire to become a senior manager in accounting or audit
  • work in a finance or audit management role
  • wish to develop and progress in their career and studies

Download the Diploma in Financial Management and Audit specification


Audit and Assurance (AA)

The AA module provides an introduction to the duties of auditors and the frameworks in which they operate. Referring to and building on the knowledge gained in the ethics e-learning, it explores the application of ethical principles to audit work. It considers the key regulatory, ethical and professional arrangements and the contribution of audit to good governance.

Assessment: Online examination, two and a half hours, objective and scenario-based questions

Download the Examinable ISAs annex for Audit and Assurance

Business Planning and Financial Management (BPFM)

The BPFM module explores the complex and inter-related environment in which an organisation operates and how to manage an organisation's finances within the context of that environment. Students will learn how to evaluate the alternative courses of actions available, from short-term financing of working capital to longer-term investments. Investment appraisal is explored and there is a focus on discounted cashflows techniques.

Recent developments such as blockchain, cryptocurrencies and artificial intelligence are introduced in this module before being discussed in more detail in the Diploma in Governance, Risk and Taxation.

Assessment: Online examination, two and a half hours, objective and scenario-based questions

Developing Strategy and Data Analysis (DSDA)

The DSDA module explores the ways organisations develop the strategies that drive their actions. Models are introduced to assess an organisation's existing strategic position, taking into account the external environment to identify opportunities and threats, and the internal environment in terms of resources and capabilities to assess its strengths and weaknesses. The impact stakeholders and stakeholder analysis have on strategic development is covered, as is the nature of stakeholder value – their business, economic, public and social value.

The models used to generate and select strategic options are considered, and there is a focus on the role of innovation in strategy development, the ethical considerations in strategy evaluation and choice and the importance of digital strategies and the different forms of entrepreneurship. The module is particularly linked to the Implementing Business Change, Governance and Risk Management, Financial Management and Strategic Public Financial Management modules.

Assessment: Online examination, two and a half hours, pre-seen case study