ACCA – Advanced Audit and Assurance (AAA)

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.

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.

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

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

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

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