Exam Practice Pack
Click to practice section based questions
- The concept of audit and other assurance engagements
- External audits
- Corporate governance
- Professional ethics and ACCA’s Code of Ethics and Conduct
Planning and risk assessment
- Obtaining, accepting and continuing audit engagements
- Objective and general principles
- Assessing audit risks
- Understanding the entity, its environment and the applicable financial reporting framework
- Fraud, laws and regulations
- Audit planning and documentation
Internal control
- Internal control systems
- The use and evaluation of systems of internal control by auditors
- Tests of controls
- Communication on internal control
- Internal audit and governance and the differences between external audit and
Audit evidence
- Assertions and audit evidence
- Audit procedures
- Audit sampling and other means of testing
- The audit of specific items
- Automated tools and techniques
- The work of others
Review and reporting
- Subsequent events
- Going concern
- Written representations
- Audit finalization and the final review
- The Independent Auditor’s Report
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Introduction to Financial Reporting (FR)
Purpose of the syllabus
The aim of the syllabus is to develop knowledge and skills in the understanding of the Auditing practices, along with many other areas which are crucial for auditing.
The syllabus
The broad syllabus headings are;
A | Audit Framework and regulation |
B | Planning and risk assessment |
C | Internal controls |
D | Audit evidence |
E | Review and Reporting |
F | Employability and technology skills |
The Exam
The syllabus is assessed by a three-hour computer-based examination.
The examination consists of:
| Number of marks |
Section A – three 10-mark case based questions. Each case has five objective test questions worth 2 marks each | 30 |
Section B – One 30-mark question and two 20 marks questions | 70 |
Time allowed | 3 hours |
Total Marks | 100 |