December 2009 Exam Tips for
P7 Advanced Audit and Assurance


  • Prospective financial information linked to applications for debt funding.
  • Audit procedures looking at impairment of financial instruments and fair value.
  • Ethical scenarios/professional issues.
  • Auditor liability and good practice management.
  • Issues associated with the control weaknesses and collection of evidence for a not-for-profit organisation.
  • Audit challenges of determining going concern status and the impact on audit opinions.
  • The clarity prject.
  • ISA 700 engagement reporting.
  • ISA 540 accounting estimates.

Use these tips as important areas to cover in your revision ,but remember the safest bet to achieve success is good syllabus coverage. Read all the recent Examiners Articles relevant to your papers - available on the ACCA website or in the Student Accountant magazine.

We hope you find these useful; remember that the key to success, other than knowing the material well, is question practice so try to attempt as many questions as you can in the run up to the exams.[/SHOWTOGROUPS]