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  1. #1
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    Default P7 June 2012 ACCA Exam Tips

    Use the Exam Tips below as important areas to cover but remember that no one knows what can come in your P7 June 2012 ACCA Exams, apart from Lisa Weaver (P7 examiner for June 2012 ACCA Exams). Your safest bet is to achieve good syllabus coverage in your revision, as the examiner usually does in recent diets of P7 Advanced Audit and Assurance Exams.




    ATC Important Topics for June12

    • New audits, tendering.
    • Planning, materiality, sampling, analytical review.
    • Audit, business or financial statement risk.
    • Group audits, joint ventures, goodwill, joint audit.
    • Assurance services, PFI, KPI, due diligence, forensic audit, reviews, insolvency (UK & Ireland PQs only).
    • Ethics, practice management and other professional issues.
    • Close down procedures, opening balances, comparatives, other information, going concern, subsequent events, representation letter, emphasis of matter, audit reports.
    • Outsourcing, services providers, use of an expert.
    • Corporate governance, internal audit (relating to ethics, outsourcing), audit committees.



    First Intuition June 2012 Hot Topics

    • Business risks in a scenario.
    • Identifying ethical and other professional issues in a scenario.
    • Audit reports.
    • Group audits.
    • Money laundering.
    • Forensic audits.



    Best of luck with the exams

  2. #2
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    Update
    Kaplan P7 ACCA Exam Tips June 2012

    Core areas (as per examiner’s approach article) likely to be examined in every paper:
     Engagement planning and risk assessment (business risk/risk of material misstatement?);
     Engagement procedures (i.e. evidence);
     Ethics and professional issues;
     Engagement reporting (ISA’s 700, 705, 706 in particular);


    Subjects of recent articles yet to be examined:
    Keep your eye out on the ACCA website and Student magazine....


    Significant topics not examined for at least 18 months:
     Laws & regs (ISA 250);
     Fraud (ISA 240);
     Subsequent Events (ISA 560);
     Money laundering;
     Prospective Financial Information;
     Social & Environmental Reporting;
     Transnational audit;
     Obtaining work;
     Outsourcing/internal audit;

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