Diploma in Governance, Risk and Taxation

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:

The Tax and Law module content will vary based on your location — further information can be found in the documents and module descriptions below.


Business Reporting (BR)

The BR module builds on the knowledge and skills learned in Financial Accounting, particularly around recording financial transactions and preparing limited company financial statements. There is a focus on the International Financial Reporting Standards (IFRS) regulatory framework and the application of the requirements of the (examinable) standards to the preparation of financial statements. Students will be required to explain how financial information has been determined and to demonstrate how accounting concepts are applied in line with the requirements of IFRSs. They will also be required to analyse and interpret the content of financial statements and use these to advise users and aid decision making. The role of integrated reporting (IR) is explored, as is green and sustainability accounting.

Assessment: Online examination, three hours, objective questions and preparation of single and consolidated accounts

Governance and Risk Management (GRM)

The GRM module covers the essential principles and practices involved in the effective governance of business and public sector organisations. This includes the key principles typically contained in governance codes and the requirements of ethical behaviour. There is a focus on risk management, including the role of internal control systems and internal audit, as well as an introduction to the counter fraud measures associated with good governance. Students will be introduced to the key considerations in, and the different options for, designing an organisation's structure and managing human resources effectively.

The module also covers the main features of performance management systems, the sources of information for them and the importance of balancing financial and non-financial performance measures as part of the effective strategic governance of organisations. The GRM module has links with all other modules of the PAQ, particularly to the Strategy Development, Audit and Assurance, Financial Management and the Implementing Business Change modules.

Assessment: Online examination, three hours, multiple choice, objective and scenario-based questions

Tax and Law (T&L)

UK students

The T&L module for UK students covers the policy-making structures, principles of law and the tax calculations that apply to many organisations operating in the private and public sector across the world. There is a focus on UK tax legislation and the administration and calculation of the main taxes that students encounter. Comparisons are drawn between the UK tax system and the approaches applied in a number of other countries. Students will also study the essential features of commercial and business law in relation to contracts, employment, companies, partnerships, financing and insolvency, and are encouraged to consider the specific arrangements in countries familiar to them. The module builds on the knowledge gained in Financial Accounting and the ethics e-learning. It also provides links to other modules including Governance and Risk Management and Strategic Public Financial Management.

International students

The module for international students introduces the underlying principles of legal and taxation systems, including the use of public private partnerships to deliver public services. Rather than focusing on a single country's legal or tax system, you will study key concepts and develop the ability to critically analyse different forms of legal and taxation systems. The module covers key international aspects of law and taxation, including the role of supranational bodies in setting policies and the importance of international cooperation in addressing corruption. Students will analyse the potential contribution of tax and law to the achievement of the UN's sustainable development goals including, but not limited to, action on climate change.

Assessment: Online examination, three hours, multiple choice, objective questions and computational scenario