• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

EXAM TIPS for P7 (December 2014)

Forums › ACCA Forums › ACCA AAA Advanced Audit and Assurance Forums › EXAM TIPS for P7 (December 2014)

  • This topic has 0 replies, 1 voice, and was last updated 10 years ago by Waqas Amjad.
Viewing 1 post (of 1 total)
  • Author
    Posts
  • November 24, 2014 at 2:12 pm #212676
    Waqas Amjad
    Participant
    • Topics: 2
    • Replies: 4
    • ☆

    Kaplan:

    Core areas (as per examiner’s approach article) likely to be examined in every paper:
    – Engagement planning and risk assessment (Business risk & risk of material misstatement)
    – Engagement procedures (or evidence)
    – Ethics and professional issues
    – Completion (matters to consider/evidence on file) and engagement reporting
    – Current topics.

    Subjects of recent articles:
    – IAASB Developments
    – Reporting on audited financial statements – significant changes proposed

    Significant topics not examined for at least 18 months:
    – Understanding the entity
    – Related party transactions
    – Relying on the work of others including experts
    – Review of interim FS
    – Tendering
    – Joint audits
    – Transnational audits
    – Opening balances
    – Subsequent events
    – Internal audit
    – Audit of social and environmental and integrated reporting

    Bpp

    We expect that the P7 exam in December will mirror previous sittings, with two compulsory questions making up the majority of the marks on offer and a choice of two from three optional questions.

    You should be aware that for exams from December 2014 onwards, the P7 INT syllabus includes examinable content on the audit of public sector performance information which you should be prepared for.

    For this sitting, you can again expect a planning scenario in the compulsory section which should test risk assessment, audit procedures and professional issues, while we expect that optional questions will also test audit reports, evidence, ethical and other practice-related matters.

    Candidates should also take heed of other recently published article content from the P7 examining team on internal audit, ethics, accounting issues and forensics when preparing for this exam.

    LSBF:

    – Business risk and risk of material misstatement.
    – Ethics and professional issues, including money laundering and advertising.
    – Matters and evidence on various IAS/IFRS.
    – Criticism of a given audit report.
    – Discussion on benefits of proposed new audit report format.
    – Quality control of audit.
    – Prospective financial information.
    – Social and environmental reporting KPIs and evidence.
    – ISAs 210, 240, 510, 550, 560, 720.

    First Institution

    – Business risks in a scenario.
    – Identifying ethical and other professional issues in a scenario.
    – Matters to be considered and audit evidence for a couple of core accounting issues.
    – Audit reports.
    – Money laundering.
    – Social and Environmental Reporting

    Opentuition

    – Internal Auditors
    – Ethics
    – Forensic Accounting
    – Accounting Issues
    – Integrated Reporting
    – IAS 41 Agriculture (New Area)

  • Author
    Posts
Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • mrjonbain on ACCA BT Chapter 6 – Some legal obligations – Questions
  • Ken Garrett on ACCA BT Chapter 6 – Some legal obligations – Questions
  • Ken Garrett on The nature and structure of organisations – ACCA Paper BT
  • OmarAlbeity on ACCA BT Chapter 6 – Some legal obligations – Questions
  • Salimbek909 on The nature and structure of organisations – ACCA Paper BT

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in