Acca aa s21 Notes

SYLLABUS 
3
AUDIT FRAMEWORK AND REGULATION 
5
1.
What is Assurance? 
5
2.
Corporate Governance 
11
3.
Auditors’ Rights, Appointment, Removal, Resignation and Regulation 
17
4.
Professional Ethics 
21
THE INDEPENDENT AUDITOR'S REPORT 
27
5.
The Auditor’s Report 
27
6.
Audit Opinions: Unmodified/Modified 
37
PLANNING AND RISK ASSESSMENT (I) 
45
7.
The Stages of an Audit – Appointment 
45
8.
The Stages of an Audit – After Appointment 
49
9.
Audit Risk 
55
AUDIT EVIDENCE (I) 
61
10.
Audit Evidence 
61
11.
Audit Sampling 
65
INTERNAL CONTROL 
69
12.
Internal Control 
69
13.
Accounting Systems 
75
14.
Computer System Controls 
79
15.
Automated Tools and Techniques 
83
AUDIT EVIDENCE (II) 
85
16.
The Final Audit – the Assertions Revisited 
85
17.
Trade Receivables 
87
18.
Trade Payables 
91
19.
Accruals and Prepayments 
93
20.
Inventory 
95
21.
Bank and Cash 
99
22.
Non-Current Assets 
101
23.
Using the Work of Others 
103
PLANNING AND RISK ASSESSMENT (II) 
107
24.
Audit Documentation and Quality Control 
107
25.
Fraud, Laws and Regulations 
111
REVIEW AND REPORTING 
113
26.
Subsequent Events 
113
27.
Contingent Assets and Liabilities 
115
28.
Written Representations 
117
29.
The Auditor’s Report - Revisited 
119
EMPLOYABILITY AND TECHNOLOGY SKILLS 
121
September 2021 to June 2022 exams
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30.
Employability and Technology Skills 
121
September 2021 to June 2022 exams
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SYLLABUS
1. Overall aim
To develop knowledge and understanding of the process of carrying out the assurance engagement 
and its application in the context of the professional regulatory framework.