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ACCA – Advanced Audit and Assurance (AAA)

The Advanced Audit and Assurance optional exam


London Governance & Compliance Academy

Summary

Price
£475 inc VAT
Or £52.78/mo. for 9 months...
Study method
Distance learning, self-paced
Duration
4 hours
Qualification
ACCA Diploma in Accounting and Business (RQF Level 4)
Regulated qualification What's this?

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Overview

The Advanced Audit and Assurance exam is designed to reflect the challenges auditors will face in their professional life. You will be required to analyse, evaluate, and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.

The syllabus starts with the legal and regulatory environment including money laundering, and professional and ethical considerations, including the Code of Ethics and professional liability. This then leads into procedures in practice management, including quality control and the acceptance and retention of professional engagements.

The syllabus then covers the audit of financial statements, including planning and evidence gathering. It then covers the completion, evidence evaluation and review and reporting on an audit of historical financial information. The next section moves onto other assignments including prospective financial information, due diligence, and forensic audit as well as the reporting of these assignments.

The penultimate section covers current issues and developments relating to the provision of audit-related and assurance services.

The final section of the syllabus contains outcomes relating to the demonstration of appropriate digital and employability skills in preparing for and taking the AAA examination. This includes being able to access and open exhibits, requirements and response options from different sources and being able to use the relevant functionality and technology to prepare and present response options in a professional manner.

Qualification

ACCA Diploma in Accounting and Business (RQF Level 4)

Regulated by Ofqual

Course media

Description

On successful completion of this subject, you should be able to:

  • Recognise the legal and regulatory environment and its impact on audit and assurance practice.
  • Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.
  • Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments.
  • Identify and formulate the work required to meet the objectives of audit assignments and apply the International Standards on Auditing
  • Evaluate findings and the results of work performed and draft suitable reports on assignments.
  • Identify and formulate the work required to meet the objectives of non-audit assignments.
  • Understand the current issues and developments relating to the provision of audit-related and assurance services.
  • Demonstrate employability and technology skills.

Who is this course for?

The ACCA qualification is ideal for people who want a career in finance and business.

Requirements

The Advanced Audit and Assurance (AAA) exam is part of the Strategic Professional Level of the ACCA qualification. No exemption for this subject.

Career path

The ACCA qualification is ideal for people who want a career in finance and business.

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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At reed.co.uk courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on reed.co.uk, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.