Free online study materials and support for ACCA P7 Paper
Essential ACCA P7 Exam links
Examinable documents INT & UK
ACCA Paper P7 – Key to success
Nature of the ACCA P7 paper
ACCA P7 Paper – Advanced Audit and Assurance – a step up from F8 Audit and Assurance is to analyse, evaluate and conclude on assurance engagements. Where F8 looks at audit procedures and a student is typically in the role of an audit junior or semi-senior, at this advanced level the student is assistant-in-charge, manager or partner.
Free ACCA P7 course notes
To fully benefit from these notes please access our free lectures below.
Note: These course notes are not meant to replace study texts. To succeed in your exam, you need to get updated Revision kit from an ACCA approved publisher.
Copyright: Selling or profiting in any way from these notes without our permission is prohibited. If you would like to use our course notes in your college, please check our OpenLicence for details.
ACCA Exam Tips for Paper P7 June 2013 examinations
Respond to an email ( with briefing notes from a meeting with a (possibly ) new client ). You are asked to prepare an outline report for the partner to present the case / problems to the members of the audit team at the planning meeting. Take your calculator – there WILL BE materiality considerations to take into account
Identify business risks ( or audit risks ) relating to a client and suggest ways to minimise the risk
“Identify the matters you should consider” and “State what audit evidence you should expect to find” BEWARE the difference between “audit evidence you should expect to find” compared with “the audit procedures which you should expect to have been carried out”
Various matters and their impact on the audit report / opinion
Advantages and costs of establishing an internal audit department as distinct from outsourcing OR Comment on the ethical and professional issues raised within a brief scenario with 2 or 3 matters identified
You really should refresh your memory about accounting standards from P2 course notes or, if you cannot face P2 course notes, then at least look through F7 course notes
Tips should not be relied on – they are only intelligent guesses.
Their only purpose is to give you suggestions for topics to concentrate on in your last few days of preparation. Do not exclude other topics from your overall preparation.