Study Zone

ATC's ACCA Exam Tips (June 2010) P7 (Advanced Audit and Assurance)

Liz Weaver, the examiner, is now well into her style. Do not expect any changes in her examination approach. Remember that P7 is a required examination on the road to becoming a registered auditor

Expect the hurdle to be high and tough.

Going concern may be considered a cert, given her recent article. Best to review all articles from the last two years.

Exam Tips

• Audit, business or financial statement risk
• Group audits, joint ventures, goodwill, joint audit
• E-commerce assurance
• Due diligence or forensic audit
• KPI
• Ethics, practice management and other professional issues
• Discontinued operations
• Construction contracts
• Intangible assets, fair values
• Post employment benefits
• Revenue recognition
• Going concern (see SA article – very much a current issue)

By Keith Rye

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