AA Orientation Presentation

AA-International stream 12/21/2021
AA
AA BY KASHIF KAMRAN
AUDIT & ASSURANCE INTERNATIONAL

Kashif Kamran-FCCA
AA_KASHIF KAMRAN-FCCA 1
Kashif Kamran 2
Qualification Affiliations
AA BY KASHIF KAMRAN
• FCCA / Certificate in international auditing • Heads the online teaching platform – Online
/ CA-Finalist (ICAP) Lecturers Academy (OLA)
• PAC (Gold ALP) Lahore, Pakistan & PAC-SOL
• Tabani School of Accountancy (Platinum ALP)
Experience Karachi Pakistan
•14+ year of teaching experience • Zivet (India)
•Teach ACCA papers AA, AAA and SBL

•Registered mentor for Oxford Brookes University
Achievement
s
•Conducted 12 AAA ACCA webinars from
March 2018 to June 2021.
AA_KASHIF KAMRAN-FCCA
KASHIFKAMRAN-FCCA-
kashifkamran@gmail.com 1
3
AA BY KASHIF KAMRAN
ABOUT AA
INT
Kashif Kamran-FCCA
4
AA BY KASHIF KAMRAN
Prior knowledge
Knowledge from prior paper and how they contribute to AA paper
KASHIFKAMRAN-FCCA-
5
Prior knowledge needed
AA BY KASHIF KAMRAN
AB
FR AA FA
CL
6
AA BY KASHIF KAMRAN
Paper format
Deep investigation into a 100 marks paper
KASHIFKAMRAN-FCCA-
7
Paper format
AA BY KASHIF KAMRAN
SECTION SECTION
A (30) B(70)
3 OT Cases 3 CR questions
• OT Case 1 – 5 OTs (10) • Q1 – 30
• OT Case 2 – 5 OTs (10) • Q2 – 20
• OT Case 3 – 5 OTs (10) • Q3 – 20
8
AA BY KASHIF KAMRAN
Section A
An insight into Section A worth 30 marks
KASHIFKAMRAN-FCCA-
9
Section A
AA BY KASHIF KAMRAN
 This section is comprised of three questions referred to as OT

cases.
 Each question contains a single scenario against which five
objective test items worth two marks each are set, therefore
each OT case is worth 10 marks.
 The OT cases can be set from any area of the syllabus. There will
be a mix of knowledge and application questions allocated to
each case.
 Given that Section A is worth 30 marks candidates should expect
to spend approximately 54 minutes on this section. Candidates
are advised to allocate an appropriate amount of time to each
OT case rather than to individual objective test items.
10
AA BY KASHIF KAMRAN
Section B
An insight into Section B worth 70 marks
KASHIFKAMRAN-FCCA-
11
Section B
AA BY KASHIF KAMRAN
 This section contains three constructed response questions

and will be comprised of one 30-mark question and two
20-mark questions.
 All questions in Section B will predominantly require a
written response.
 However, questions may also require the calculation and
interpretation of some basic ratios in the context of audit
planning or review or calculation of materiality.
12
30 mark question
AA BY KASHIF KAMRAN
 This question worth 30 marks will be based around a detailed scenario and
candidates will be required to answer several requirements. The 30-mark question will
predominantly test the areas of planning and risk assessment, internal controls and
audit evidence although the scenario may focus on one particular section of the
audit process. In addition other syllabus areas may feature in these questions.
 Given that the question will focus on a detailed scenario it is likely that there will be
several issues/requirements to be dealt with and this may include knowledge and
application of several technical areas.
 Candidates will be expected to analyse the information included in the scenario to
identify the relevant points that will be required for their answer.
 Elements of the question may also test knowledge and understanding of the ISAs.
Candidates are reminded that there is no credit available for listing the ISA numbers
and as such rote learning of ISAs is not appropriate rather, an understanding of the
key principles underlying auditing need to be obtained and applied to the situation
detailed in the question
KASHIFKAMRAN-FCCA-
13
30 mark question
AA BY KASHIF KAMRAN
 It is particularly important that candidates focus on the requirements in

this question and allocate their time accordingly. Candidates should
allocate approximately 54 minutes to read, plan and answer a 30-
mark question.
 Candidates are reminded how important it is to plan an appropriate
answer to each aspect of the question prior to answering the
question. This will help to ensure that the answer provided is focussed
and covers enough relevant points to score the marks available.
Candidates are reminded that only valid points that address the
requirements of the scenario will receive credit.
 As part of this planning process candidates are also encouraged to
read the requirement verb carefully. If the requirement is to ‘describe’
or ‘explain’ then detailed answer points should be produced,
however if the requirement is to ‘list’ then answers should contain brief
points and should not stretch to pages of text.
14
20 marks question
AA BY KASHIF KAMRAN
 These questions, each worth 20 marks, will again be based around a scenario, and will
predominantly test the areas of planning and risk assessment or internal controls or
audit evidence. In addition other syllabus areas may feature in these questions.
 The approach to answering the 20-mark questions is similar to that of the 30-mark
question in that candidates again will need to analyse the scenario to identify the
appropriate points relevant to their answers and should allocate sufficient time to
each question.
 It is recommended that candidates allocate approximately 36 minutes to read, plan
and answer each 20-mark question.
 Candidates are encouraged to spend time analysing the requirement in detail, noting
whether the requirement is to list/state/identify/define/explain/describe or discuss as
these all require differing levels of detail.
 In addition, it is important to identify whether the question requires knowledge or the
application of this knowledge to the scenario.
 For all questions included in Section B the scenarios could be based on either profit or
non-profit marking organisations and it is to be assumed that all entities will use
computer-based systems.
KASHIFKAMRAN-FCCA-
15
Time management
AA BY KASHIF KAMRAN
Section A - 30 marks Section B - 70 marks

(54 minutes) (126 minutes)
OT Case 1 -10 mark (18 minutes) Q1- 30 marks (54 minutes)
OT Case 2-10 mark (18 minutes) Q2- 20 marks (36 minutes)
OT Case 3-10 mark (18 minutes) Q3- 20 marks (36 minutes)
16
AA BY KASHIF KAMRAN
Syllabus
Analyze the syllabus and its diversity
KASHIFKAMRAN-FCCA-
17
AA syllabus
AA BY KASHIF KAMRAN
A B C D E
• Audit • Planning • Internal • Audit • Review &

framework and risk controls evidence reporting
& assessment
regulations
18
AA BY KASHIF KAMRAN
Capabilities
Key capabilities you should aim at to excel AA paper
KASHIFKAMRAN-FCCA-
19
Capability 1
AA BY KASHIF KAMRAN
Capability How it may be tested?

 Explain the concept of audit  This area may be tested within
and assurance and the the OT cases and elements of
functions of audit, corporate this area could also feature as
governance, including ethics part of the 30 or 20-mark
constructed response questions.
and professional conduct, Questions may focus on the
describing the scope and factual areas of the legal
distinguishing between the aspect or cover the ethical
functions of internal and framework in a scenario‐based
external audit. question. Assurance could
feature in any question in the
exam.
20
Capability 2
AA BY KASHIF KAMRAN

 Demonstrate how the auditor  Questions in this area will relate to
obtains and accepts audit the planning of the audit. They will
normally feature aspects of audit
engagements, obtains an risk, the audit planning process,
understanding of the entity and fraud and error as well as
its environment, assesses the risk analytical procedures.
of material misstatement  These areas are more likely to
(whether arising from fraud or appear as scenario-based
other irregularities) and plans an questions –however, knowledge-
based elements could appear in
audit of financial statements. Section A questions or as part of a
Section B constructed response
question.
KASHIFKAMRAN-FCCA-
21
Capability 3
AA BY KASHIF KAMRAN

 Describe and evaluate internal  This capability, and the next, will relate
to the testing of controls, and the
controls, techniques and audit collection of audit evidence using
tests, including IT systems to tests of controls and substantive
procedures as appropriate. It is
identify and communicate important that candidates understand
the difference between these two
control risks and their potential types of procedures.
consequences, making  Identifying key controls and describing
appropriate recommendations. suitable tests of controls as well as
reporting of recommendations
Describe the scope, role and regarding deficiencies in internal
function of internal audit. controls, or other issues found in an
audit, will continue to be examined
including the production of reports to
management and those charged
with governance.
22
Capability 4
AA BY KASHIF KAMRAN

 Identify and describe the work  Questions for this capability are
and evidence obtained by the likely to focus on the
auditor and others required to application of substantive
meet the objectives of audit procedures to either statement
engagements and the of profit or loss or statement of
application of the International financial position areas (refer to
Standards on Auditing (ISAs). the Study Guide).
 This can feature in the Section A
OT cases and Section B
constructed response questions.
KASHIFKAMRAN-FCCA-
23
Capability 5
AA BY KASHIF KAMRAN

 Explain how consideration of  This area will generally be tested in the
OT cases and elements of this area
subsequent events and the could also feature as part of a Section B
going concern principle can question. With regards to auditor’s
inform the conclusions from reports, candidates will not be required
audit work and are reflected in to draft an entire auditor’s report.
different types of auditor’s  Questions in this area will focus on
report, written representations explaining auditor’s reports. Candidates
are also likely to be required to review a
and the final review and report. scenario and explain the implications for
the auditor’s report including relevant
modifications of the opinion. Knowledge
of the content of ISAs in the 700 series
will be expected (including ISA 700, 701,
705, 706 and 720).
24
AA BY KASHIF KAMRAN
Key resources
Key resources you should use to excel AA paper
KASHIFKAMRAN-FCCA-
25
Key resources to study
AA BY KASHIF KAMRAN
 Technical articles
 Study support videos
 Text book
 Past papers
 Marking scheme
 Examiner reports
 Practice platform
26
AA BY KASHIF KAMRAN
AA COURSE
INT
Kashif Kamran-FCCA
KASHIFKAMRAN-FCCA-
27
AA Course
AA BY KASHIF KAMRAN
 The AA course is divided into FIVE syllabus areas and the

presentation of each syllabus area will guide you how you
should prepare for the particular area, articles to read and
the recommended past papers.
KASHIFKAMRAN-FCCA-

AA Orientation Presentation

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

AA Orientation Presentation

Uploaded by

Copyright:

Available Formats

AA-International stream 12/21/2021

AUDIT & ASSURANCE INTERNATIONAL

•Teach ACCA papers AA, AAA and SBL

 This section is comprised of three questions referred to as OT

 This section contains three constructed response questions

 It is particularly important that candidates focus on the requirements in

Section A - 30 marks Section B - 70 marks

OT Case 1 -10 mark (18 minutes) Q1- 30 marks (54 minutes)

OT Case 2-10 mark (18 minutes) Q2- 20 marks (36 minutes)

OT Case 3-10 mark (18 minutes) Q3- 20 marks (36 minutes)

• Audit • Planning • Internal • Audit • Review &

Capability How it may be tested?

Capability How it may be tested?

Capability How it may be tested?

Capability How it may be tested?

Capability How it may be tested?

 The AA course is divided into FIVE syllabus areas and the

You might also like