ACCA Advanced Audit and Assurance ^INT

What you will learn in AAA

The aim of the syllabus is 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 Advanced Audit and Assurance (AAA-INT) syllabus further develops key skills introduced in Audit and Assurance at the Applied Skills level.

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 management 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 on to other assignments including prospective financial information, due diligence and forensic audit as well as the reporting of these assignments.

The next section covers current issues and developments relating to the provision of audit related and assurance services.
The professional skills section of the syllabus links to all others and provides a range of professional skills which the candidate must demonstrate in the exam. These professional skills will make candidates more employable, or if already in work, will enhance their opportunities for advancement.

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. These skills are specifically developed by practicing and preparing for the AAA exam, using the learning support content for computer-based exams available via the practice platform and the ACCA website and will need to be demonstrated during the live exam.

On successful completion of this exam, candidates should be able to:

A. Recognise the legal and regulatory environment and its impact on audit and assurance practice

B. Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework

C. Assess and recommend appropriate quality management policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments

D. Identify and formulate the work required to meet the objectives of audit assignments and apply the International Standards on Auditing

E. Evaluate findings and the results of work performed and draft suitable reports on assignments

F. Identify and formulate the work required to meet the objectives of non-audit assignments

G. Understand the current issues and developments relating to the provision of audit-related and assurance services

H. Apply a range of professional skills in addressing requirements within the Advanced Audit and Assurance exam, and in preparation for, or to support current work experience

I. Demonstrate employability and technology skills