The Audit and Assurance (AA) course is essentially divided into six sections. The course starts with the nature, purpose, and scope of assurance engagements, including the statutory audit, and its regulatory environment, and introduces governance and professional ethics relating to audit and assurance.

It then leads to audit planning the audit and performing a risk assessment. The course 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 the evaluation of internal controls, audit evidence, and a review of the financial statements.

In addition to final review procedures, the course concentrates on reporting, including the form and content of the independent auditor’s report.

The AA exam is assessed by a three-hour computer-based examination. All questions are compulsory. The exam will contain both computational and discursive elements. Some questions will adopt a scenario/case study approach. Prior to the start of the exam, candidates are given an extra 10 minutes to read the exam instructions.

Section A

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Section A of the exam comprises three 10 mark case-based questions. Each case has five objective test questions worth 2 marks each.

Section B

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Section B of the exam comprises one 30 mark question and two 20 mark questions.

Section B of the exam will predominantly examine one or more aspects of audit and assurance from planning and risk assessment, internal control, or audit evidence, although topics from other syllabus areas may also be included.

Total 100 marks