AF4D121 - Advanced Audit and Assurance (ACCA) 01 Sep 2020 - 31 Aug 2026 | Version 3
Associated Module Information
| Module Code: | AF4D121 | ||
|---|---|---|---|
| Module Title: | Advanced Audit and Assurance (ACCA) | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Accounting and Finance | ||
| Faculty Sub Group: | Accounting and Finance | ||
| Module Leader: | Joanna Howell | ||
| Module Team: | Rebecca Wright, Nicola Gilbert, Jared Davies | ||
| First Intended Intake: | SEP 2018 | Final Year of Intake: | |
| Date Closed: | |||
| Credit Value: | 40 | Credit Level: | 7 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100105 - accounting | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 3 |
|---|---|
| Valid From | 01 Sep 2020 |
| Valid To | 31 Aug 2026 |
Module Aims
Please note that aims, learning outcomes and content have been taken directly from ACCA’s Sept 2020 - June 2021 AAA Syllabus & Study Guide document. Latest versions of all ACCA Syllabus & Study Guide documents can be found at:
https://www.accaglobal.com/ca/en/student/exam-support-resources.html
The Advanced Audit & Assurance module is one of 4 Advanced Option modules from the Strategic Professional Level of the ACCA Qualification. Students need to complete 2 of 4 option modules.
This module is only available by external examination.
The module further develops key aspects introduced in Audit & Assurance at the Applied Skills Level.
The module aims to analyse, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.
The syllabus is assessed by a three-hour fifteen minute examination. It examines professional competences within the auditing and assurance environment.
The examination is constructed in two sections. Questions in both sections will be largely discursive. However, candidates will be expected, for example, to be able to assess materiality and calculate relevant ratios where appropriate.
Students should be capable of applying ethical and professional judgement to relevant practical situations.
The evaluation of audit risks and the identification of appropriate audit response to those risks is a key part of the exam.
Professional and ethical judgement will need to be exercised, together with the integration of technical knowledge when addressing business reporting issues in a business context.
Content Summary
The aim of the syllabus is to analyse, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments
The Advanced Audit and Assurance syllabus is divided into seven areas.
The syllabus starts with the legal and regulatory environment and its impact on audit and assurance including money laundering.
It then covers professional and ethical considerations on an assurance engagement, including the Code of Ethics and professional liability.
This then leads into procedures in practice management, including quality control and the acceptance and retention of professional engagements.
The syllabus then covers the audit of financial statements, including planning, evidence and review.
It then covers the planning, evidence and review of non-audit assignments including prospective financial information and forensic audits.
The final section covers current issues and developments relating to the provision of audit- related and assurance services.
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Practical classes and workshops | 60 |
| Independent Study | 150 |
| Directed Study | 180 |
| Formative Assessment - Scheduled | 10 |
| Total Hours Selected | 400 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Recognise the legal and regulatory environment and its impact on audit and assurance practice. Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework |
| LO2 | Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments. |
| LO3 | Identify and formulate the work required to meet the objectives of audit assignments and apply the International Standards on Auditing. |
| LO4 | Identify and formulate the work required to meet the objectives of non-audit assignments. |
| LO5 | Evaluate findings and the results of work performed and draft suitable reports on assignments. |
| LO6 | Understand the current issues and developments relating to the provision of audit- related and assurance service. |
Module Requisites
| Code | Title | Requisite Type |
|---|---|---|
| MOD011440 | Audit and Assurance | pre-requisite |
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Synchronous Onsite Assessment (Exam) | Onsite Closed Book Examination 1 | Scenario-based exam | 195 | N/A | 100 | No | 50 |
Assessment Matrix
| Assessment Type | Learning Outcomes | |||||
|---|---|---|---|---|---|---|
| LO1 | LO2 | LO3 | LO4 | LO5 | LO6 | |
| Onsite Closed Book Examination 1 | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |