About AA
The ACCA Audit & Assurance (AA) exam tests your understanding of the audit process and its application within professional regulations. It’s 3 hours long, with multiple choice and written sections covering areas like risk assessment, internal controls, and audit evidence. Passing equips you with the foundational knowledge for a career in auditing and assurance.
Exam Structure
- Section A (30 Marks): Three separate case studies (OT cases) were presented with five multiple-choice questions each (2 marks each). Focuses on testing your knowledge and application across various areas of the syllabus. Time allocation: approximately 54 minutes.
- Section B (70 Marks): Three written response questions: One 30-mark question. Two 20-mark questions. Covers broader topics like planning, risk assessment, internal control, and audit evidence, but may include other areas too. Requires demonstration of understanding and application of concepts through written explanations and calculations (where relevant).
- Key points: All questions are compulsory. Marks are divided into technical (80%) and professional skills (20%).
SO, Why Choose
Sir Shafi
for your AA journey?
Ahmed Shafi is a well-known ACCA tutor with years of experience. He is skilled at educating students on audit and assurance in an easy-to-understand way. He further helps learners gain a deeper grasp of the audit with his insightful approach and practical experience. Further, his self-designed notes support learners in having a seamless learning journey. Students can use these notes even after the course is completed. Plus, he always strives to support students and stays available to clear their doubts.
Qualifications and Achievements
Demo Lectures
Unlock your potential in Audit & Assurance with a complimentary glimpse into Sir Ahmed Shafi’s renowned online course.
Why attend the Demo?
- Explore his engaging teaching style: Witness firsthand Sir Ahmed Shafi’ clear explanations, practical examples, and interactive approach that make complex concepts understandable and engaging.
- Gain valuable insights: Get a taste of the comprehensive curriculum, covering essential topics like risk assessment, internal controls, and audit evidence.
- Discover powerful resources: Experience the platform’s interactive features, practice questions, self-designed notes, and past paper analysis that support effective learning.
- Ask your questions: Get your doubts clarified and have your specific concerns addressed by Sir Ahmed Shafi himself during the live Q&A session.
- Make an informed decision: See if Sir Ahmed Shafi teaching style and approach align with your learning preferences before committing to the full course.
Stay ahead in the Exams with Our specialized LMS
TFL-LMS
Our Specialised LMS provides student with the course in well structured manner which ensure effective and efficient study. Customized Testing system in our LMS helps a student to have actual exam experience while attempting homeworks and Mock Exams.
To discover further key features of our LMS, including Access to recorded lectures library, specialized testing system, access to course attachments and comprehensive progress reports, watch our tutorial video.
Watch LMS Walkthrough
COURSE OUTLINE
The Nature, Purpose, and Scope of Assurance Engagements:
- Introduction to assurance concepts and professional pronouncements.
- Types of assurance engagements (audit, review, compilation).
- Regulatory environment and ethical considerations.
Planning the Audit and Performing Risk Assessment:
- Understanding the client’s business and risk assessment procedures.
- Developing an audit strategy and audit program.
- Internal controls framework and their impact on the audit approach.
Internal Control:
- Key internal control concepts and objectives (COSO framework).
- Evaluating the design and effectiveness of internal controls.
- Impact of internal controls on the nature and extent of audit procedures.
Audit Evidence:
- Types of audit evidence (transactional, analytical, and substantive).
- Obtaining and evaluating audit evidence to support assertions.
- Using technology-assisted audit techniques (CAATTs).
Completion and Review of the Audit:
- Finalization procedures and issuance of the auditor’s report.
- Subsequent events and post-audit review.
- Professional pronouncements on auditing standards and ethics.
Additional points:
- The syllabus also covers specific industry considerations for audits of financial institutions and listed companies.
- International Financial Reporting Standards (IFRS) are the primary accounting framework used in the exam.
- The exam tests a combination of technical knowledge and professional skills, including judgment, communication, and analytical thinking.
Free Resources for AA by Tutor
Frequently Asked Questions
Q1) When should students opt for an F8/AA ACCA paper?
Ans) If students pass ACCA F7 and ACCA F8, they can think of taking the F8/AA ACCA paper.
Q2)What's the strategy for passing the F8/AA exam?
Ans)
- There is a three-way approach to qualifying the ACCA F8/AA paper.
- • Divide the syllabus into planning, execution, and opinion.
- • 3-Part Approach:
- • Apply principles in practice.
- • Breakdown Section B Questions:
- • Categorize into internal controls, risk assessment, audit procedures, and ethics.
- • Prepare for the potential omission of one category in the examiner’s questions.
- • 5 MCQs a Day:
- • Daily practice of 5 MCQs throughout the syllabus.
- • Accumulates to around 300 MCQs for better retention.
- • Short and sweet answers
- • Keep answers within four lines.
- • Prioritize clarity and relevance to earn points.
- • The EFG Rule:
E: Avoid the Exclusion of Key Points.
F: Respond directly to questions, not facts.
G: Refrain from generalizing answers.
Q3) What's the passing ratio for the F8/AA ACCA exam?
Ans)Recently, the passing ratio for the audit and assurance ACCA paper has covered around 40%.
Q4) Is F8/AA ACCA difficult?
Ans) The F8/AA exam is difficult and requires a strong understanding of audit and assurance concepts. Through effective study methods and practice, students can qualify for this exam and grow their ACCA qualification process.
Q5)How long is the ACCA audit and assurance exam?
Ans) All questions in the F8/AA exam are compulsory, and the duration is 3 hours and 15 minutes. The exam format includes both longer-form and objective questions, with a passing score set at 50%, consistent with other skilled-level exams.
Q6) What is the scope of audit and assurance?
Ans)
The career scope after the ACCA F8 exam is excellent. One can work across various domains, including assurance engagements, governance, and ethics. audit planning, including ethics, preconditions, engagement letters, and quality control. Auditor objectives, skepticism, judgment, and assessment of audit risks. Internal controls, IT integration, and the role of internal audit. emphasis on ISAs, subsequent events, and the going concern principle.
Q7) How is the audit and assurance exam structured?
Ans) The AA F8 exam is a three-hour computer-based assessment featuring compulsory questions. Candidates receive an additional 10 minutes for exam instruction review. Three case-based questions totaling ten marks each are included in Section A, along with five 2-mark objective test questions. Section B consists of two 20-mark questions and one 30-mark question covering audit and assurance topics. The combined score of 100 marks provides a thorough assessment of candidates’ subject-matter expertise.