ACCA Audit and Assurance (AA): study notes Area by area, with audit scenarios and quizzes.

1. 01A. Audit framework and regulationWhat an audit and other assurance engagements are, and the rules around them: the five elements and the levels of assurance, how auditors are regulated, appointed and removed, what an audit cannot do, and how quality is managed on each audit under ISA 220 (Revised). The module ends with corporate governance and the ethical rules in ACCA's Code of Ethics and Conduct, including the stricter rules for public interest entities.5 lessons · 3h 20m+

   • Audit and other assurance engagements40 min
   • External audits45 min
   • Corporate governance45 min
   • Professional ethics and ACCA's Code of Ethics and Conduct55 min
   • Module 1 quiz15 min
2. 02B. Planning and risk assessmentHow an audit begins: accepting the client and agreeing the terms under ISA 210, the auditor's objectives, scepticism and judgement under ISA 200, and the assessment of audit risk and materiality under ISA 315 (Revised 2019), ISA 320 and ISA 330. You will use analytical procedures and ratios to find risks, consider fraud and laws and regulations under ISA 240 (Revised) and ISA 250 (Revised), and finish with the audit strategy, the audit plan, interim and final audits, and documentation under ISA 230.7 lessons · 4h 55m+

   • Obtaining, accepting and continuing audit engagements45 min
   • The auditor's objective and general principles35 min
   • Assessing audit risksFree preview55 min
   • Understanding the entity, its environment and its reporting framework
3. 03C. Internal controlThe five components of internal control under ISA 315 (Revised 2019), including the IT environment and IT controls; how auditors document, evaluate and test controls across the sales, purchases, payroll, inventory, cash and non-current asset systems; and how deficiencies are reported under ISA 265. The module ends with internal audit: its place in governance, how it differs from external audit, outsourcing and the assignments it carries out, followed by a quiz.7 lessons · 4h 55m+

   • Systems of internal control45 min
   • How auditors use and evaluate internal control45 min
   • Tests of controls55 min
   • Communicating on internal control45 min
   • Internal audit and governance
4. 04D. Audit evidenceHow the auditor gathers enough good evidence for each figure in the financial statements. You will link procedures to assertions, use analytical procedures, confirmations and sampling, design substantive procedures for every major balance from receivables and inventory to provisions and estimates, use automated tools, evaluate the work of service organisations, internal auditors and experts, and audit not-for-profit organisations.8 lessons · 5h 35m+

   • Assertions and audit evidenceFree preview45 min
   • Audit procedures45 min
   • Audit sampling and other means of testing45 min
   • The audit of specific items60 min
5. 05E. Review and reportingHow the auditor completes the audit and forms the opinion. You will audit events after the year end, evaluate going concern under ISA 570 (Revised 2024), obtain written representations, evaluate uncorrected misstatements in the final review, and decide between unmodified, qualified, adverse and disclaimer opinions, with key audit matters, emphasis of matter and other matter paragraphs, and other information.6 lessons · 4h 5m+

   • Subsequent events40 min
   • Going concern50 min
   • Written representations35 min
   • Audit finalisation and the final review45 min
   • The independent auditor's report60 min
6. 06F. Employability and technology skillsThe skills the computer-based AA exam rewards beyond technical knowledge: planning your time across both sections, reading requirements precisely, writing risks, responses, procedures and recommendations that are specific to the scenario, and setting them out in tables a marker can follow. The module finishes with a quiz on exam technique.2 lessons · 55 min+

   • The computer-based exam: answering scenario questions40 min
   • Module 6 quiz15 min

• AAudit framework and regulation
• BPlanning and risk assessment
• CInternal control
• DAudit evidence
• EReview and reporting
• FEmployability and technology skills

Questions