33:30
“Yes! That’s what it means!
That is explaining ‘nuffin’ whatsoever(…)”
Love it ??????
P
Pedro·
Thank you!!!
:)))
A
Alex·
Hello!
Are these lectures still applicable for the Sept 2024 sitting?
K
KimTutor·
Yes (and D24, M25 and J25)
S
sarah·
I have an exam on 28th August 2025. Can i still go ahead and use these notes for revision. Thank you.
H
Harris·
Um what about J26 ???
M
mrjonbainModerator·
Yes, you can still use them in June 2026.
C
Cristina·
Hi everyone
Did someone passed the June exam?How it was? Some advices please ?
K
KimTutor·
@CristinaMS95 - this is a space for comments on the lecture - not for "chat" - please use the AA forum to engage with fellow students https://opentuition.com/forum/acca-forums/acca-aa-audit-and-assurance-forums
C
Crystal·
Please could you confirm which part of the lecture notes the Analytical procedures refers to as I am struggling to find the ratio content in the lectures notes. Thanks!
(I am studying for the June 2024 exam)
K
KimTutor·
To be sure of a prompt response can you please use my ask the tutor forum https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-audit-and-assurance-aa-exams (this space is for comments, not questions).
Analytical procedures start around minute 21.
G
Gav·
why start the lecture from random part of the chapter.
K
KimTutor·
No one has raised this as an issue previously - as you have brought it to my attention, I have noted for the 2024-25 update to swap sections 2 & 3 in the chapter.
G
Gav·
HI Kim,
Please don't take me wrong, it wasn't a complaint, it is just the confusion.When you(student) change to a new chapter and see a topic taught which is not found in the beginning of the chapter so as a pupil I get confused and loose interest.
G
Goodluck·
Sorry there any different between audit cycle,audit process,audit phase and audit stages
K
KimTutor·
If you have a question rather than a comment that is not answered by the posts below, please use the tutor forum https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-audit-and-assurance-aa-exams
S
sunny20·
Hi Ken,
I often see the words "Audit process", "Audit procedure" are they talk about same thing?
Many thanks in advance
K
KimTutor·
No they are not the same thing - "audit process" is a general term which encompasses what is involved in the conduct of an audit overall, so not just the evidence gathering part of it but what is involved in planning and communicating with client management during the course of the audit.
"Audit procedure" may refer to an action to obtain audit evidence, e.g. "inspection" (of a document or asset) or how the auditor obtains an understanding of the entity (e.g. risk identification) or "substantive procedure" (e.g. a test of detail) or a "test of control".
In the exam you should expect to see the term "audit procedure" - it will always be given context (e.g. see the Specimen exam):
"... audit procedures ... to test the VALUATION assertion for non-current assets"
" ... audit procedures ... the MOST reliable audit evidence"
"... audit procedures ... to form a conclusion"
R
roseleka12·
Thank you so much Sir well understood
K
kengarrettTutor·
There are just some qualities which accumulate to make evidence more reliable; they are not mutually exclusive and there is no 'best'. So:
Written is better than oral. External independent is better than internal. So for example, putting these two variables together you could construct a 'pecking order from worst to best, as follows:
Worst: internal oral (eg a director's oral assurance is worth practically nothing)
Medium:external oral (eg a customer's oral assurance that a certain amont is owed)
Medium: internal written (eg directors providing written representations)
Best: external written (eg written confirmation from a customer about an amount owed).
T
tricia·
Dear Sir,
You spoke about the pecking order of sources of evidence. I am a bit confused when my lecturer says auditor generated evidence is the most reliable form of evidence .
My study material states that independent external source of evidence is most reliable. I don't know who is correct and what is the most reliable source of evidence to the least reliable source. Please clear my confusion.
S
siraj08·
Audit evidence which is obtains by auditor directly and from external source not from the client source is more reliable...for example:
1. confirmation letter directly receive by auditor from confirming party
2. Original document provides more reliable evidene than photocopies etc
“Yes! That’s what it means!
That is explaining ‘nuffin’ whatsoever(…)”
Love it ??????
:)))
Are these lectures still applicable for the Sept 2024 sitting?
Did someone passed the June exam?How it was? Some advices please ?
(I am studying for the June 2024 exam)
Analytical procedures start around minute 21.
Please don't take me wrong, it wasn't a complaint, it is just the confusion.When you(student) change to a new chapter and see a topic taught which is not found in the beginning of the chapter so as a pupil I get confused and loose interest.
I often see the words "Audit process", "Audit procedure" are they talk about same thing?
Many thanks in advance
"Audit procedure" may refer to an action to obtain audit evidence, e.g. "inspection" (of a document or asset) or how the auditor obtains an understanding of the entity (e.g. risk identification) or "substantive procedure" (e.g. a test of detail) or a "test of control".
In the exam you should expect to see the term "audit procedure" - it will always be given context (e.g. see the Specimen exam):
"... audit procedures ... to test the VALUATION assertion for non-current assets"
" ... audit procedures ... the MOST reliable audit evidence"
"... audit procedures ... to form a conclusion"
Written is better than oral. External independent is better than internal. So for example, putting these two variables together you could construct a 'pecking order from worst to best, as follows:
Worst: internal oral (eg a director's oral assurance is worth practically nothing)
Medium:external oral (eg a customer's oral assurance that a certain amont is owed)
Medium: internal written (eg directors providing written representations)
Best: external written (eg written confirmation from a customer about an amount owed).
You spoke about the pecking order of sources of evidence. I am a bit confused when my lecturer says auditor generated evidence is the most reliable form of evidence .
My study material states that independent external source of evidence is most reliable. I don't know who is correct and what is the most reliable source of evidence to the least reliable source. Please clear my confusion.
1. confirmation letter directly receive by auditor from confirming party
2. Original document provides more reliable evidene than photocopies etc