Leland

So if you want to get pass, read ISA 240 and the articles, and Chapter 3 from the syllabus.

ADBot

Leland

Another post, just to exceed 30

Natalis

P7 INT – ADVANCED AUDIT AND ASSURANCE
The examiner will set 5 questions, which will all have multiple elements, so it is likely that other topics than the ones noted below will be examined in the June 2009 exam.
Core areas (as per examiner's approach article) likely to be examined in every paper:
• Engagement planning and risk
• Engagement procedures (i.e. evidence)
• Ethics and professional issues
• Engagement reporting (audit reports in particular)
Subject of recent articles:
• ISA 240 Fraud and Error
• Risk an environmental audit (by P1 examiner but relevant to P7)
• ISA 560 Subsequent Events
• ISA 540 Audit of Accounting Estimates
(The latter two were mentioned in an article by Lisa Weaver published in November 2008. However they remain unexamined and are likely to appear in this or the December 2009 sitting).
'Peripheral areas' from examiner's approach article yet to be examined:
• Regulatory framework
• Obtaining work
• Corporate governance