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ACCA – Audit and Assurance (AA)

The Audit and Assurance syllabus is essentially divided into five areas.


London Governance & Compliance Academy

Summary

Price
£425 inc VAT
Or £70.83/mo. for 6 months...
Study method
Distance learning, self-paced
Duration
3 hours
Qualification
ACCA Diploma in Accounting and Business (RQF Level 4)
Regulated qualification What's this?

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Overview

The Audit and Assurance syllabus is essentially divided into five areas. The syllabus starts with the nature, purpose and scope of assurance engagements, including the statutory audit, its regulatory environment, and introduces governance and professional ethics relating to audit and assurance.

It then leads into planning the audit and performing risk assessment. The syllabus then covers a range of areas relating to an audit of financial statements including the scope of internal control and the role and function of internal audit. These include, evaluating internal controls, audit evidence, and a review of the financial statements. In addition to final review procedures, the syllabus concentrates on reporting, including the form and content of the independent auditor’s report.

Finally, the syllabus contains outcomes relating to the demonstration of appropriate digital and employability skills in preparing for and taking the AA examination. This includes being able to interact with different question item types, manage information presented in digital format 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

Syllabus structure

    • Audit framework and regulation

    • Planning and risk assessment

    • Internal control

    • Audit evidence

    • Review and reporting

    • Employability and technology skills

Main Capabilities

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

    • Explain the concept of audit and assurance and the functions of audit, corporate governance, including ethics and professional conduct.

    • Demonstrate how the auditor obtains and accepts audit engagements, obtains an understanding of the entity and its environment, assesses the risk of material misstatement (whether arising from fraud or other irregularities) and plans an audit of financial statements.

    • Describe and evaluate internal controls, techniques and audit tests, including IT systems to identify and communicate control risks and their potential consequences, making appropriate recommendations. Describe the scope, role and function of internal audit.

    • Identify and describe the work and evidence obtained by the auditor and others required to meet the objectives of audit engagements and the application of the International Standards on Auditing (ISAs)

    • Explain how consideration of subsequent events and the going concern principle can inform the conclusions from audit work and are reflected in different types of auditor’s report, written representations and the final review and report.

    • 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 Audit and Assurance (AA) exam is part of the Applied Knowledge Level of the ACCA qualification. If you are graduated with a degree accredited by ACCA you are exempt from this subject.

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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.