ACCA AAA (INT) Question Practice 25marks- Reporting

Name: ACCA AAA (INT) Question Practice 25marks- Reporting
Rating: 4.7 (13 reviews)

Kilmister (Past exam question Mar/Jun 19)

Highest Rated

Created bySabina Glinka MAc FCCA

Last updated 11/2022

English

English [Auto],

What you'll learn

Learn how to approach a Section B question based on real exam example.
Refresh knowledge on Reporting- one of the most important topic in AAA exams.
What to do to make your exam marker happy and generous when marking your paper
See how the structure of the answer should be.

Course content

1 section • 6 lectures • 41m total length

Kilmister- question overview1:04
Practice the 2019 Kilmister section B reporting question to revise the auditor's report concepts and craft governance-focused recommendations, including a management letter, from audit scenarios.
a) Audit Report - question analysis11:09
Critically appraise an audit report extract for a listed company, focusing on independence to shareholders, order of opinion, going-concern disclosures, and revenue recognition as a key audit matter.
a) Audit Report - full answer6:04
Address the auditor’s report to the shareholders only, place the opinion first, and cite the ethics code while noting going concern and revenue recognition as key matters.
b) Report to Those Charged With Governance -analysis11:27
Explore reporting to those charged with governance for a listed entity, covering materiality, policy changes in property revaluation, audit timing, capitalization of improvements, partner rotation, and ISO 260 guidance.
b) Report to Those Charged With Governance - answer9:32
Learn to prepare a report to those charged with governance, addressing materiality, PPE significance and revaluation, policy changes, delays, capitalization decisions for car parks, and ethics and independence.
Key Takeaways and TIPs2:13
Glean key takeaways and tips for ACCA AAA (INT) reporting, using the right benchmark (profit before tax, assets, or revenue), declaring materiality with stated thresholds, and practicing with mocks.

Requirements

Students should be familiar with Audit Reporting, although there will be a reminder in the part a of the question.

Description

This is a question practice of past exam B section question, where I will show you how to plan, execute and pass this type of question.

It has been confirmed that one of Section B question will always be relating to completion, review and reporting, therefore students should be familiar with this area of sylabus.

The question is named Kilmister from Mar/Jun 2019 exam paper and it is a great study example as it requires knowledge on audit report elements and content as well as ability to spot issues that should be reported to Those Charged in Governance.

The Advanced Audit and Assurance (AAA) exam is around a third knowledge-based and a sixth application-based question, that test a candidate's ability to apply knowledge and concepts. For this reason students should predominately focus on question practice as they prepare for their exam session.

Past exam rates show that AAA exam pass rate is between 30% and 35% - you need to make sure you are one of those three out of ten people who succeed. And by practicing with me you can achieve it.

The exam lasts 3h 15 min, which means you have 1.95 min per point, therefore 25 mark question should take you maximum of 49 minutes.

Lets get started!

Who this course is for:

ACCA students preparing for ACCA Advanced Audit & Assurance (AAA) exam