From the examiner and I
Use this as your guiding light throughout your AAA (P7) course, whether you take it using our online classroom or at your local college.
Ok here goes...
Textbook knowledge is NOT the answer
Simple regurgitation of textbook knowledge is never sufficient.
You must show how that knowledge applies to the requirement and the scenario
Watch closely how I approach the past paper questions in the online classroom
AA (F8) knowledge is important
This means a good knowledge of substantive procedures, audit risks and audit reports is vital.
Don't worry though in the online classroom we take you through it all with no assumed knowledge
Know how to plan an audit
Understand the risks of this particular audit and explain why they are an issue and make recommendations as to how to overcome them
Make sure you support your answer, use numbers to show they are material risks
Have an answer 'CHECKLIST'
What ISAs are relevant? (no need to know numbers and names)
Do I need to consider accounting treatment?
What are the key issues/risks?
What is my recommendation / advice and have I supported this choice?
Ok that's all from me (and the examiner) for today
Hope all is going well - and you're enjoying the online classroom