ACCA Certificate in Audit

Course Summary

The syllabus for FAU starts with an introduction to the nature and purpose of an audit, including the responsibilities of auditors, and the regulation that auditors must adhere to. The syllabus then covers the areas relating to the process of an audit of financial statements: audit planning and risk assessment, recording and evaluating internal control, tests of controls, audit evidence and the use of substantive procedures. The syllabus also deals with audit completion including the auditor’s report.

Course Syllabus

Purpose and scope of audit and regulatory framework 

1. The purpose and scope of an audit 

2. Auditor responsibilities 

3. Professional ethics and ACCA’s Code of Ethics and Conduct 

4. Auditor engagement and liability 

5. Audit regulation 6. Internal audit

Audit planning and risk assessment 

1. Audit risk 

2. Understanding the entity and its environment and the applicable financial reporting framework 

3. Audit strategy and the audit plan 

4. Audit documentation

Internal control 

1. General principles of internal control 

2. Techniques to understand, record and evaluate accounting systems 

3. Tests of controls 

4. Communicating control deficiencies

Audit evidence and procedures 

1. Audit evidence 

2. Audit procedures and assertions 

3. Substantive procedures 

4. Audit sampling 

5. Automated tools and techniques

Audit completion 

1. Going concern 

2. Subsequent events 

3. Written representations 

4. Independent Auditor’s Report

Employability and technology skills 

1. Use computer technology to efficiently access and manipulate relevant information 

2. Work on relevant response options, using available functions and technology as would be required in the workplace 

3. Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools 

4. Present data and information effectively, using the appropriate tools