AA Textbook Syllabus
Chapter 1
What the Examiner Wants
This is vital
Chapter 2
Syllabus A. Audit Framework And Regulation
A1. Concept of Audit & Assurance Engagements
- A1a. General Principles1:45
- A1b. Development of assurance engagements
- A1c. Accountability, Stewardship and Agency1:33
- A1d. Assurance Engagements1:43
- A1e. 5 Elements of Assurance engagements1:09
- A1f. Types of assurance engagement
- A1g. Levels of Assurance1:22
- A1g. True and Fair & Reasonable Assurance5:46
A2. External Audit
- A2a. Regulatory Environment for External Audits
- A2b. Mechanisms for Regulating Auditors
- A2c. Appointment of the Auditor1:37
- A2c. Auditor Removal1:28
- A2d. Duties / Rights of the Auditor5:50
- A2e. Limitations of external audits
- A2f. The development and status of ISAs
- A2g. The relationship between ISAs and national standards
A3. Corporate Governance
- A3a. Corporate Governance & Auditing
- A3b. International Codes of CG (OECD)
- A3cd. Good Corporate Governance3:10
- A3e. Audit Committees7:08
- A3f. Internal Controls & Risk Management
- A3f. Responsibilities for systems and controls1:50
- A3f. Communicating with those charged with governance1:59
A4. Professional Ethics
- A4a. Fundamental Principles2:23
- A4b. What is meant by a conceptual framework of accounting
- A4b. Threats5:18
- A4b. Typical threats6:47
- A4b. More threats
- A4c. Safeguards4:30
- A4d. Independence & Confidentiality1:03
Chapter 3
Syllabus B. Planning And Risk Assessment
B1. Obtaining and accepting audit engagements
- B1a. Professional ethics and the new audit engagements2:07
- B1b. Preconditions for an audit
- B1c. New engagement process2:49
- B1d. Engagement letter1:56
- B1e. Principles & Purpose1:37
- B1f. Definitions for Quality Control
- B1f. Elements of a QC system5:13
- B1f. Engagement Performance1:40
- B1f. Assigning the Audit Team
- B1f. Individual level of Quality Control
B2. Objective and general principles
All subject exam questionsB3. Assessing audit risks
All subject exam questionsB4. Understanding the entity and its environment
- B4a. How to get Initial Understanding2:21
- B4a. Risk Assessment Procedures
- B4a. Risk assessment Procedures - sexy diagram
- B4b. Analytical Procedures in Planning3:46
- B4c. Key ratios used in analytical procedures
B5. Fraud, laws and regulations
- B5a. Definitions
- B5a. Fraud & Misstatement Effects
- B5b. Management and Auditor Responsibilities1:47
- B5b. Investigating Misstatements
- B5b. Reporting Fraud and Error
- B5c. Responsibilities of management and auditors2:53
B6. Audit planning and documentation
- B6a. Why Plan an Audit?1:58
- B6b. Contents of the Plan1:11
- B6c. Audit Strategy vs Audit Plan
- Bd/Be/B6f. Difference between Interim and Final audit
- B6g. Importance of Documentation
- B6h. Contents of Documentation
- B6i. Keeping Working Papers
Chapter 4
Syllabus C. Internal Control
C1. Internal control systems
All subject exam questionsC2. The use and evaluation of internal control systems by audito
- C2a. How Auditors Record Systems
- C2b. How Auditors Identify Deficiencies
- C2c. Evaluation of Internal Controls
C3. Tests of control
- C3a. Application & General IT controls
- C3b. Revenue (Sales Cycle)
- C3b. Purchases
- C3b. Payroll
- Inventory System continued
- C3b. Bank & Cash
- C3b. Capital expenditure
C4. Communication on internal control
C5. Internal audit and corporate governance
- C5a. Is there a need for Internal audit?1:36
- C5b. Best practice for Internal Audit2:49
- C5c. Internal v External Audit0:55
C6. Scope of Internal Audit
- C6a. Scope and limitations of Internal Audit
- C6b. Outsourcing
- C6b. Outsourcing internal audit2:10
- C6c. Value for Money1:31
- C6c. Best value assignments1:38
- C6c. IT & Financial assignments
- C6d. Operational assignments
- C6e. Internal Audit Reports
Chapter 5
Syllabus D. Audit Evidence
D1. Financial statement assertions and audit evidence
- D1a. The Assertions Explained3:19
- D1b. Using Assertions
- D1c. Quality and Quantity of Evidence3:34
- D1d. The relevance and reliability of audit evidence
D2. Audit procedures
- D2a. Procedures for obtaining evidence
- D2b. Analytical procedures4:04
- D2c. Auditing Accounting Estimates0:47
- D2d. Smaller Entity Evidence
- D2e. Control v Substantive Tests3:24
D3. Audit sampling and other means of testing
- D3a. Definition & need
- D3b. Statistical or non-statistical?
- D3c. Methods of Sampling
- D3d. Misstatement or deviation
D4. The audit of specific items
- D4a. Receivables - The Assertions
- D4a. Receivables - Direct Confirmation7:14
- D4a. Receivables - Other Evidence1:06
- D4a. Receivables - Prepayments
- D4a. Revenues - Substantive procedures
- D4b. Inventory - and the Assertions
- D4b. Inventory - The Physical Count
- D4b. Inventory - Possible Count Weaknesses
- D4b. Inventory - Valuation
- D4b. Inventory - Cut-off
- D4c. Payables - Trade
- D4c. Payables - Accruals
- D4e. Payables - Provisions
- Da/D5b. Payables - Non-current Liabilities
- D4d. Bank & Cash
- D4e. Non-current Assets - Tangible
- D4e. Non-current Assets - Intangible
- D4g. Share capital, reserves and directors’ emoluments
D6. The work of others
- D6a/b/d. Why Rely on Experts?1:46
- D6b. Why Rely on Internal Audit?1:49
- D6c. Using service organisations
D7. Not-for-profit organisations
Chapter 6
Syllabus E. Review And Reporting
E1. Subsequent events
- Ea/E1b. Purpose of a Subsequent Events Review
- Ea/E1b. Auditor responsibility for Subsequent Events4:30
- E1c. Adjusting Events
- Adjusting Events - Diagram
E2. Going concern
- Ea/E2c. Going Concern Responsibilities
- E2b. The need for going concern reviews
- Ed/E2e. Going Concern Review & Indicators5:03
- Ef/E2g. Going Concern Disclosures and Reporting
E4. Audit finalisation and the final review
All subject exam questionsE5. Independent Auditor’s report
- Ea/E5b. Structure of an Unmodified Audit Report
- E5cd. Audit Opinion
- E5e. EOM and Other Matter Compared