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.
Structure of the ACCA P7 paper
The first 2 questions in the exam are compulsory and will be worth anywhere between 50% and 70%. The remaining 30% – 50% are divided between 2 from 3 other questions
Emphasis of the ACCA P7 exam
At this advanced professional level the ACCA is looking for the ability to analyse tricky / controversial situations and apply professional thinking to resolve the problem or advise the “correct” course of action.
Recently the examiner has adopted the style of asking question 1 in the form of a series of emails.
As with all the professional level exams, there are “professional marks” available for the quality, clarity and persuasiveness of an answer.
In the past the examiner has felt it necessary to comment on the apparent inability of students to apply even the most basic of double entry principles!
As well as the step up from assistant to partner and the change of emphasis from procedures to analysis, the syllabus from F8 is extended by the additional elements of the audit of group accounts and the procedures and problems associated with non-audit assignments
How to pass ACCA P7 exam
Use the OpenTuition ACCA P7 lectures together with the P7 course notes. Try to read a study text to get a feel for the subject but don’t try to keep reading
when, in any session, you find that you have reached the boredom threshhold.
Do NOT fall into the trap of saying “I work as an auditor for a “big-4″ firm – I shouldn’t need to do much work in this area to pass this paper!” That would be a BIG mistake! Equally, do not fall into the trap of saying “I have no experience at all of auditing – how could I possibly pass when even big-4 students are failing?” That too would be a BIG mistake.
Practice as many past exam questions as you can and don’t get depressed when you find that your answers bear little similarity to the printed solutions
See also:
P7 Advanced Audit and Assurance Forums – post your questions to get help from other students
Paper P7 INT/UK/IRL Syllabus and Study Guide
Why choose Paper P7
P7 Past exam papers INT
P7 Past exam papers UK
P7 Examiners’ reports
Examinable documents INT & UK
P7 Examiner’s approach interview
P7 Examiner’s approach article
P7 Examiner’s analysis interview
P7 Examiners’ guidance
P7 Technical articles
P7 Pass rates
Clarity Auditing Standards Article
how do i download the vidoes
You can’t – the videos are not downloadable. It’s the only way we can keep the site free
Sorry
I have not studied any P1 and P3, just went to the P2 exam on 6th June, not sure will pass or not yet. Will be fine for me to start to prepare the sit in Dec.P7?
Does P7 need any other P subjects knowledge? I did quite well in F8 about a year ago.
Thank you
going to start p7 again after 8 month study break …but how to start and from whr …getting little confused. attempted p7 once and failed…urge for suggestion for the preparation of sep 16
Study past Questions since you have the knowledge . Am also writing in Sept
anyone have tips for p7 ??
Audit report has changed so I would say that is possible in either September or December
Hello fbawany..what do u means by audit report has changed?which part are changed?
Thank you
Muhammad, you’re kidding, right? (Mike Little)
Hii
Guys i have attempted just 3-4 past papers of P7 till now
Paper date is 7th
Can i make it through exam?
I need motivation
Hi
I scored 48 in the June 2015 attempt and 49 in December 2015 attempt. I have been attending lectures , reading in between the lines from the notes and solving past year papers as well still unable to clear.
I’ll be highly obliged if you can please let me know where do i need to put more efforts so that i pass the exam ?
TIA
I attempted p7 2 times but failed at 45,46 I am worried …what I do?how can I pass this paper please guide me…I also attempted full paper but failed what is the reason
Mmmm…. I feel iam not 100% prepared for tomorrow p7 exam but guess what??? I feel relaxed…. no pressure… this scares me
That’s great! You should read some of the posts where I can almost feel the poster cracking up.
No pressure, no worries. Just do it!
Hi Mike… I went in the exam room with no pressure as I said. The exam was fair but time pressured. I left about 20 marks.keeping my fingers crossed becos I believe I can still make it. Hoping for the best….
#Try to read a study text to get a feel for the subject but don’t try to keep reading
when, in any session, you find that you have reached the boredom threshhold…
what does this statement mean i.e from the details under ”How to pass paper p7 exam” above?
When you’re bored – do something else! Ironing, cleaning, going for a swim, water skiing
ANYTHING! Because when you’re bored you’re no longer taking anything in ie you’re wasting your time so you may as well waste it doing something that you enjoy!
Hi Mike… have u seen the p7 paper after exam?? What’s your comment
kaplan
Hello Sirs,
Can anyone guide me. Should I study from BPP for Kaplan for P5 and P7.
thanks and regards
Javed
@hafeezjaved, No matter what Karish has said above, each individual can have their own preferences – that’s why no-one on OT will ever recommend one tuition provider above another – it all comes down to personal choice. Whatever suits Karish may not suit you and whatever suits you will not necessarily suit anyone else.
Thank G*d we’re all individuals! 🙂
i have notes from Bangladesh, you want ?
its with hot chilli spices
Don’t pay too great attention to the printed ones! NOBODY’S answer will be even “very similar” to the printed solutions.
Don’t forget that Lisa had in mind what she was looking for when she wrote the question and had the benefit of open books and no time pressure.
In the exam, make sure that you write enough points for the marks available and that you are strict with yourself when it comes to time allocation – attempt 100 marks’ worth in the exam
how can we stop getting disappointed upon realising that our answers bear no similarity with printed ones?
indeed.