Advanced Audit and Assurance (AAA)

The ACCA Advanced Audit and Assurance (AAA) syllabus builds on the Applied Skills Audit and Assurance (AA) exam, focusing on the higher-level skills required of an audit manager or partner. 

AAA Syllabus Overview

The Official AAA Study Guide is divided into seven technical areas: 

1. Regulatory Environment: International regulatory frameworks, money laundering, and laws/regulations.
2. Professional and Ethical Considerations: Code of Ethics, professional liability, fraud, and error.
3. Quality Management: Firm-wide and engagement-specific quality management.
4. Audit of Historical Financial Information: Planning, materiality, risk assessment, and evidence gathering.
5. Completion, Review, and Reporting: Subsequent events, going concern, and audit reports.
6. Other Assignments: Non-audit services like forensic audits and social/environmental reporting.
7. Current Issues and Developments: Emerging technologies and professional/ethical developments. 

Key Learning Outcomes

Upon completion, candidates should be able to:

• Evaluate regulatory frameworks and their impact on audit and assurance practice.
• Apply ethical standards and professional codes to complex assurance engagements.
• Assess quality management policies and procedures at both the firm and engagement levels.
• Plan and conduct audits of historical financial information in accordance with International Standards on Auditing (ISAs).
• Evaluate audit findings and draft appropriate reports to management and those charged with governance.
• Advise on other assignments, such as due diligence, forensic audits, and reviews of prospective financial information.
• Demonstrate professional skills, including communication, analysis, and commercial acumen. 

Exam Format

The exam is 3 hours and 15 minutes long and consists of: 

• Section A: One 50-mark case study based on the planning stage of an audit (includes 10 professional skills marks).
• Section B: Two 25-mark questions. One is always focused on the completion, review, and reporting stage, while the other covers various syllabus areas.