Unofficial practice for the ACCA Audit and Assurance (AA) exam, not affiliated with ACCA.
AA is a 3-hour computer-based exam in two sections, worth 100 marks in total, with 10 minutes before it starts to read the instructions. Every question is compulsory.
| Length | 3 hours, computer based |
|---|---|
| Section A | 3 cases, each with 5 objective test questions of 2 marks, 30 marks |
| Section B | One 30-mark and two 20-mark constructed response questions, 70 marks |
| Pass mark | 50% |
3 case-based questions of 10 marks. Each case is a short scenario with 5 objective test questions of 2 marks on it, and each question is marked on its own.
One 30-mark and two 20-mark constructed response questions. They mostly examine planning and risk assessment, internal control or audit evidence, although topics from the rest of the syllabus can appear.
AA is a session exam, sat in one of four sessions a year: March, June, September and December. Results come about 6 weeks after the exam.
Audit and other assurance engagements
Assurance engagements are either attestation engagements or direct engagements. Pellow Co asks a practitioner to assess the energy efficiency of its buildings against a published standard and to present the resulting measurements, with her conclusion, in her own report. Pellow Co's management has prepared no statement about its buildings.
Which type of engagement is this? (2 marks)
Internal control
At Arden Co, the internal audit team visits each branch every quarter to check that the branch bank reconciliations have been prepared and reviewed as the finance manual requires, and reports any failures to the audit committee.
Which component of internal control does internal audit's quarterly check form part of? (2 marks)
Completion of the audit
Cresswell Co's year end is 31 December 20X5. On 10 February 20X6, a customer that owed $85,000 at the year end went into liquidation. The customer had been in financial difficulty since October 20X5, and the liquidator expects to pay nothing.
How should Cresswell Co treat the customer's liquidation in its 20X5 financial statements? (2 marks)
3 cases of 5 objective test questions in Section A (15 questions), and 3 constructed response questions in Section B.
3 hours, plus 10 minutes beforehand to read the exam instructions.
In one of ACCA's four exam sessions: March, June, September and December. AA is not an on-demand exam.