Sunil Bandari asked this question a few days ago. I will respond about ACCA AAA.

Question 1 – Always a 50 mark case study question about ‘planning’

The structure/content of this question follows a similar theme each time:-

• Audit Risk, Business Risk or Risk of Material Misstatement – Know the difference between them.

• Group Audit Situation – Know the specifics of group accounts.

• Audit Procedures (Specific) – Be clear as to how the procedure works and what you will need.

• Audit Procedures (Analytical) – Look for the trends in the numbers and talk about them.

• Materiality – Calculate it when ever you are given numbers.

• Code of Ethics – Know the standard three stages to address an ethics question.

• Money Laundering – You must understand the indicators of money laundering, how it happens, as well as what your responsibilities are as an auditor.

• Fraud and Error – You must understand the indicators of fraud, how it happens, as well as what your responsibilities are as an auditor.

• 4 presentation marks are always there – 16% of the way to a pass in Question 1 if you just do the basics well (Same basics every time!).

Question 2 – Always about ‘completion, review and reporting’

You must know the following areas well:-

• Evaluating misstatements and resolving outstanding issues.

• Audit reporting implications.

• Critical appraisal of a draft audit report.

• Reporting to those charged with governance.

Question 3 – Always about ‘other assignments’

You must know the following areas well:-

• Due diligence.

• Prospective financial information.

• Integrated reporting including social and environmental information.

• Quality control & practice management.

My revision courses are created with these patterns and trends in mind. It is a very predictable exam if you have practiced enough questions and read the relevant technical articles.