ACCA P7 Paper, Advanced Audit and Assurance, is the seventh and final paper of the professional level module and it aims to enable the candidate to analyse, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.
This paper builds on F8 and P2.
By clearing this paper, you will be able to:
Recognise the legal and regulatory environment and its impact on audit and assurance practice
Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework
Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments
Identify and formulate the work required to meet the objectives of audit assignments and apply the International Standards on Auditing
Identify and formulate the work required to meet the objectives of non-audit assignments
Evaluate findings and the results of work performed and draft suitable reports on assignments
Understand the current issues and developments relating to the provision of auditrelated and assurance service
ACCA P7 syllabus in accordance with the aim of the ACCA P7 paper, This syllabus looks further develops key aspects introduced in F8 and P2 and this paper should be taken if the candidate is interested in pursuing audit as a career.
ACCA P7 paper can be taken only as a paper based exam. The exam format of ACCA P7 paper takes into account the fact that the subject matter of the paper is the most fundamental knowledge expected of a professional accountant.
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