ACCA Audit and Assurance Module - ACCA AA F8

This ACCA AA F8 Audit and Assurance module is designed to develop your knowledge of the nature, purpose, and scope of assurance engagements, and how it leads into audit planning. During this course, you'll learn more about the functions of audit, as well as gaining an understanding of the internal controls and techniques for audits. To achieve the full ACCA membership qualification you will need to complete this course, as well as 12 other modules. Alternatively, you can complete this module, plus the following five modules to achieve the ACCA Fundamentals - Applied Skills qualification:

• ACCA LW F4 Corporate and Business Law
• ACCA PM F5 Performance Management
• ACCA TX F6 Taxation
• ACCA FR F7 Financial Reporting
• ACCA FM F9 Financial Management

Or, if you're looking to simply develop your knowledge of business environments, you can also study this course on its own. Read our guide to the ACCA course and modules.

Course Content

Section A Audit framework and regulation

• The concept of audit and other assurance engagements
• External audits
• Corporate governance
• Professional ethics and ACCA's Code of Ethics and Conduct

Section B Planning and risk assessment

• Obtaining, accepting, and continuing audit engagements
• Objective and general principles
• Assessing audit risks
• Understanding the entity, its environment, and the applicable financial reporting framework
• Fraud, laws, and regulation
• Audit planning and documentation

Section C Internal control

• Internal control systems
• The use and evaluation of systems of internal control by auditors
• Tests of controls
• Communication on internal control
• Internal audit and governance and the differences between external audit and internal audit
• The scope of the internal audit function, outsourcing, and internal audit assignments

Section D Audit evidence

• Assertions and audit evidence
• Audit procedures
• Audit sampling and other means of testing
• The audit of specific items
• Automated tools and techniques
• The work of others
• Not-for-profit organisations

Section E Review and reporting

• Subsequent events
• Going concern
• Written representations
• Audit finalisation and the final review
• The Independent Auditor's Report

Section F Employability and technology skills

• Use computer technology to efficiently access and manipulate relevant information
• Work on relevant response options, using available functions and technology as would be required in the workplace
• Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
• Present data and information effectively, using the appropriate tools