Free online study materials and support for ACCA P7 Paper
Essential ACCA P7 Exam links
Why choose Paper P7
P7 Past exam papers INT
P7 Past exam papers UK
P7 Examiners’ reports
Examinable documents INT & UK
P7 Examiners’ guidance
P7 Examiner’s approach article
P7 Examiner’s approach interview
P7 Technical articles
Clarity Auditing Standards Article
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
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ACCA Exam Technique
ACCA Exam Tips for Paper P7 June 2015 examinations
Usual question 1 – an email from a partner asking for your response and concerning a forthcoming audit where the partner has had a preliminary meeting that has revealed a number of accounting and auditing issues. Those issues could very likely involve various risks and the categorization of those risks. In addition, there could well be ethical matters to be brought in as well as professional considerations
As question 2, coming out of left field, I like the idea of the need for, and identification of, appropriate procedures instituted by companies for the protection of their employees from the threats caused by bribery
Questions 3, 4 and 5 could be based on any or all of recent articles from Student Accountant. These include:
- Professional Scepticism
- Using the Work of Internal Auditors (last exam was reliance on an expert)
- Staying on the right side of Ethics
- Answering questions involving Accounting Issues
Also, again a flyer, auditing the financial statements of a farm bringing in IAS 41 Agriculture matters
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.