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Advanced Audit and Assurance (INT) (P7) This is a ...

ACCA 2017-2018 All rights Audit andAssurance (INT) (P7)September 2017 June2018 This syllabus and study guide is designed to helpwith planning study and to provide detailedinformation on what could be assessed inany examination STRUCTURE OF THE SYLLABUS ANDSTUDY GUIDER elational diagram of paper with other papersThis diagram shows direct and indirect linksbetween this paper and other papers preceding orfollowing it. Some papers are directly underpinnedby other papers such as Advanced PerformanceManagement by Performance Management. Theselinks are shown as solid line arrows. Other papersonly have indirect relationships with each othersuch as links existing between the accounting andauditing papers. The links between these are shownas dotted line arrows.

© ACCA 2017-2018 All rights reserved. 1 Advanced Audit and Assurance (INT) (P7) September 2017 – June 2018 This syllabus and study guide is designed to help

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Transcription of Advanced Audit and Assurance (INT) (P7) This is a ...

1 ACCA 2017-2018 All rights Audit andAssurance (INT) (P7)September 2017 June2018 This syllabus and study guide is designed to helpwith planning study and to provide detailedinformation on what could be assessed inany examination STRUCTURE OF THE SYLLABUS ANDSTUDY GUIDER elational diagram of paper with other papersThis diagram shows direct and indirect linksbetween this paper and other papers preceding orfollowing it. Some papers are directly underpinnedby other papers such as Advanced PerformanceManagement by Performance Management. Theselinks are shown as solid line arrows. Other papersonly have indirect relationships with each othersuch as links existing between the accounting andauditing papers. The links between these are shownas dotted line arrows.

2 This diagram indicates whereyou are expected to have underpinning knowledgeand where it would be useful to review previouslearning before undertaking aim of the syllabusThis explains briefly the overall objective of thepaper and indicates in the broadest sense thecapabilities to be developed within the capabilitiesThis paper s aim is broken down into several maincapabilities which divide the syllabus and studyguide into discrete diagram of the main capabilitiesThis diagram illustrates the flows and links betweenthe main capabilities (sections) of the syllabus andshould be used as an aid to planning teaching andlearning in a structured rationaleThis is a narrative explaining how the syllabus isstructured and how the main capabilities are rationale also explains in further detail what theexamination intends to assess and syllabusThis shows the breakdown of the main capabilities(sections) of the syllabus into subject areas.

3 This isthe blueprint for the detailed study to examining the syllabusThis section briefly explains the structure of theexamination and how it is GuideThis is the main document that students, learningand content providers should use as the basis oftheir studies, instruction and will be based on the detail of thestudy guide which comprehensively identifies whatcould be assessed in any examination study guide is a precise reflection andbreakdown of the syllabus. It is divided into sectionsbased on the main capabilities identified in thesyllabus. These sections are divided into subjectareas which relate to the sub-capabilities includedin the detailed syllabus. Subject areas are brokendown into sub-headings which describe the detailedoutcomes that could be assessed in outcomes are described using verbsindicating what exams may require students todemonstrate, and the broad intellectual level atwhich these may need to be demonstrated(*see intellectual levels below).

4 INTELLECTUAL LEVELSThe syllabus is designed to progressively broadenand deepen the knowledge, skills and professionalvalues demonstrated by the student on their waythrough the specific capabilities within the detailedsyllabuses and study guides are assessed at one ofthree intellectual or cognitive levels:Level 1: Knowledge and comprehension ACCA 2017-2018 All rights 2: Application and analysisLevel 3: Synthesis and evaluationVery broadly, these intellectual levels relate to thethree cognitive levels at which the Knowledgemodule, the Skills module and the Professional levelare subject area in the detailed study guideincluded in this document is given a 1, 2, or3 superscript, denoting intellectual level, marked atthe end of each relevant line.

5 This gives anindication of the intellectual depth at which an areacould be assessed within the examination. However,while level 1 broadly equates with the Knowledgemodule, level 2 equates to the Skills module andlevel 3 to the Professional level, some lower levelskills can continue to be assessed as the studentprogresses through each module and level. Thisreflects that at each stage of study there will be arequirement to broaden, as well as deepencapabilities. It is also possible that occasionallysome higher level capabilities may be assessed atlower HOURS AND EDUCATIONRECOGNITIONThe ACCA qualification does not prescribe orrecommend any particular number of learning hoursfor examinations because study and learningpatterns and styles vary greatly between people andorganisations.

6 This also recognises the widediversity of personal, professional and educationalcircumstances in which ACCA students a member of the International Federation ofAccountants, ACCA seeks to enhance the educationrecognition of its qualification on both national andinternational education frameworks, and witheducational authorities and partners globally. Indoing so, ACCA aims to ensure that its qualificationsare recognized and valued by governments,regulatory authorities and employers across allsectors. To this end, ACCA qualifications arecurrently recognized on the education frameworks inseveral countries. Please refer to your nationaleducation framework regulator for syllabus contains between 23 and 35 mainsubject area headings depending on the nature ofthe subject and how these areas have been TO EXAM STRUCTUREThe structure of examinations varies within andbetween modules and Fundamentals level examinations contain100% compulsory questions to encouragecandidates to study across the breadth of Knowledge module is assessed by equivalenttwo-hour paper based and computer and Business Law(F4)

7 Paper is a two- hour objective test examinationwhich is also available as a computer based examsfor English and Global variants, as well as paperbased for all skills module examinations F5-F9 contain a mixof objectives and longer type questions with aduration of three hours for 100 marks.* These areavailable as computer-based and paper-basedexams. In the computer-based exams there may beinstances where we have extra content for thepurposes of ongoing quality Assurance and security.* For paper-based exams there is an extra 15minutes to reflect the manual effort Professional level papers are all of three hours15 minutes duration and, all contain twosections. Section A is compulsory, but there will besome choice offered in Section has removed the restriction relating to readingand planning time, so that while the timeconsidered necessary to complete these examsremains at 3 hours, candidates may use theadditional 15 minutes as they choose.

8 ACCA encourages students to take time to read questionscarefully and to plan answers but once the examtime has started, there are no additional restrictionsas to when candidates may start writing in theiranswer should be taken to ensure that all theinformation and exam requirements are properlyread and understood. ACCA 2017-2018 All rights Essentials module papers all have a Section Acontaining a major case study question with allrequirements totalling 50 marks relating to thiscase. Section B gives students a choice of two fromthree 25 mark A of both the P4 and P5 Options paperscontain one 50 mark compulsory question, andSection B will offer a choice of two from threequestions each worth 25 marks A of each of the P6 and P7 Options paperscontains 60 compulsory marks from two questions;question 1 attracting 35 marks, and question 2attracting 25 B of both theseOptions papers will offer a choice of two from threequestions, with each question attracting 20 Professional level exams contain fourprofessional pass mark for all ACCA Qualificationexamination papers is 50%.

9 GUIDE TO EXAMINATION ASSESSMENTACCA reserves the right to examine anythingcontained within the study guide at any examinationsession. This includes knowledge, techniques,principles, theories, and concepts as the financial accounting, Audit and Assurance ,law and tax papers except where indicatedotherwise, ACCA will publishexaminabledocumentsonce a year to indicate exactlywhat regulations and legislation could potentially beassessed within identified examination paper based examinations regulationissuedorlegislationpassedon or before 31stAugust annually,will be examinable from 1stSeptember of thefollowing year to 31stAugust of the year after refer to the examinable documents for thepaper (where relevant) for further issued or legislation passed inaccordance with the above dates may beexaminable even if theeffectivedate is in the term issued or passed relates to whenregulation or legislation has been formally term effective relates to when regulation orlegislation must be applied to an entity transactionsand business study guide offers more detailed guidance onthe depth and level at which the examinabledocuments will be examined.

10 The study guideshould therefore be read in conjunction with theexaminable documents list. ACCA 2017-2018 All rights analyse, evaluate and conclude on the assuranceengagement and other Audit and Assurance issues inthe context of best practice and CAPABILITIESOn successful completion of this paper candidatesshould be able to:ARecognise the legal and regulatoryenvironment and its impact on Audit andassurance practiceBDemonstrate the ability to work effectively onan Assurance or other service engagementwithin a professional and ethical frameworkCAssess and recommend appropriate qualitycontrol policies and procedures in practicemanagement and recognise the auditor sposition in relation to the acceptanceand retention of professional appointmentsDIdentify and formulate the work requiredto meet the objectives of Audit assignmentsand apply the International Standards onAuditingEIdentify and formulate the work required tomeet the objectives of non- Audit assignmentsFEvaluate findings and the results of workperformed and draft suitable reports


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