The basic aim of the ACCA P7 is to evaluate the audit and assurance issues in the view of current development and in practicality. It enhances the skills of the candidates to apply the knowledge applicable to the auditing and assurance issues.
Main Components Of ACCA P7.
The basic features of the ACCA P7 include analyzing of the legal atmosphere and how it impacts the auditing and assurance practices. The ethical and professional framework is an important component of this paper and it exposes the ability to work on an Assurance issue. It includes the recommendation of appropriate policies in practical management. ACCA P7 devises the framework in which the audit assignments are seen through by applying the International standards on Auditing. Non-audit assignments should also be tackled by devising and formulating the appropriate work required. Lastly, all the findings should be evaluated carefully and then suitable reports should be drafted on the findings and also the auditing and assurance practices should be related to the current situation and current developments.
The syllabus of the ACCA P7 is divided into seven areas. It takes into account the legal and regulatory environment, the moral code and the code of ethics, the professional capability and the syllabus also covers the audit of the financial statements, practice management as well as drafting the reports on these assignments. Then the auditing and assurance practices are related to the current issues and the current developments.
Approach To The ACCA P7.
The ACCA P7 is a three hour paper comprising of two sections and the candidates will be expected to provide relevant materiality and calculations where needed. There will also be case study based questions as well as there would be questions focusing on relatively significant topics which will require precise answers related to the topic.
Examiner's Approach To The ACCA P7.
ACCA P7 is a tool used to explore the capabilities of the candidate which assumes the role of a a professional person working in a financial firm who provides auditing and assurance services to the clients. The questions in the paper will be scenario based in which the candidate would have to take up a role of a senior auditor and therefore the ACCA P7 is concerned with exploring the application of the technical and legal environment, which is really essential to the auditing and assurance services. The ACCA P7 also affects the skills of the candidates to make commercial and practical decisions regarding the auditing and assurance work.
The marking of and structure of the ACCA P7 is primarily based on the application of knowledge in the scenarios provided in the questions as the majority of the questions are primarily based. Marks of this ACCA P7 will not be awarded on the statement of facts that are not related to the scenarios.
Author Resource:
My blog gives you the chance to research and ask for absolutely free facts about ACCA Course .Click HERE for full info of this attracting Professional Accounting Course and it's details.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")