P7 Advanced Audit and Assurance (AAA)

A. Regulatory Environment
1. International regulatory frameworks for audit and assurance services
2. Money laundering
3. Laws and regulations

B. Professional and Ethical Considerations
1. Code of Ethics and Conduct
2. Fraud and error
3. Professional liability

C. Practice Management
1. Quality control
2. Advertising, publicity, obtaining professional work and fees
3. Tendering
4. Professional appointments

D. Assignments
1. The audit of historical financial information including;
i) Planning, materiality and assessing the risk of misstatement
ii) Evidence
iii) Evaluation and review
2. Group audits
3. Audit-related services
4. Assurance services
5. Prospective financial information
6. Forensic audits
7. Internal audit
8. Outsourcing

E. Reporting
1. Auditor’s reports
2. Reports to management
3. Other reports

F. Current Issues and Developments
1. Professional, ethical and corporate governance
2. Information technology
3. Transnational audits
4. Social and environmental auditing
5. Other current issue