WHY CHOOSE THIS PAPER?
To complete the ACCA Qualification exams you must complete three Essentials papers (P1, P2 and P3) and then complete two from four Options papers (P4, P5, P6 and P7). The Options papers cover in depth the specialist areas of professional accountancy, namely: financial management; performance management; tax; and audit and assurance.
P7 Advanced Audit and Assurance is designed to enable candidates to apply relevant knowledge and skills in evaluating and concluding on audit and assurance engagements.
If you have work experience in this area, or have ambitions to work in audit and assurance, then this exam could be a good choice for you.
You should also think about how comfortable you are with the fundamental areas of audit and assurance. There are materials in the section below which will help you reflect on the basic understanding of audit and assurance and make a decision as to whether P7 is right for you.
HELPING YOU PASS THIS PAPER
Getting to grips with the fundamental areas of audit and assurance will really help you succeed at P7.
The paper is mainly underpinned by F8 Audit and Assurance. You can see the relationship between P7 and F8 in the Essential underpinning knowledge for Options papers document.
ACCA has found that if you have a good knowledge of F8 then you are more likely to pass P7. New materials available from Kaplan, one of our Gold Approved Learning Partners – content, have been designed to help you understand the relevant fundamental knowledge underpinning the Options papers.
For more information on Kaplan’s Options papers products, visit their website.
The options papers are the final exam hurdle. Peter Redfern, ACCA qualifications manager, explains how choosing options papers which you are most comfortable with will, hopefully, improve your chances of success.