ACCA AAA case studies
ACCA AAA · Put your knowledge to work in context.
ACCA Advanced Audit and Assurance (AAA) is one of the Strategic Professional Options exams in the ACCA Qualification, aimed at candidates who have completed the Applied Skills level and want to specialise in audit and assurance. It suits aspiring audit seniors, managers and assurance professionals who need to exercise judgement on complex engagements rather than merely apply routine procedures. The ACCA AAA case studies are 5 cases and about 3,176 words.
1The Overrun on a First-Year Charity Audit
You are the engagement partner on the first-year audit of Riverbend Housing Trust, a charity with £14m turnover and 60 staff. The audit is fee-capped at £38,000, agreed when the charity's finance team was described as 'experienced'.
621 words, about 3 min2Independence on a Long-Standing Audit Client
Harwell Logistics Ltd has been audited by your firm for nine years. The engagement partner, Priya, has been on the engagement for seven of those years.
692 words, about 3 min3Group Audit Reliance on a Component Auditor
You are the group auditor of Meridian Holdings plc, a listed group with a UK parent and a material subsidiary in Vietnam (35% of group revenue, 40% of group assets). The Vietnamese subsidiary is audited by a local firm, An Phat Audit, which is not part of your network and whose working papers are in Vietnamese.
634 words, about 3 min4Accepting a Client with a Going Concern Shadow
You are the engagement partner considering acceptance of Fenwick Retail Ltd, a chain of 22 stores with £45m turnover. The company has a £12m term loan with a covenant test at 31 December: net debt/EBITDA must be below 3.5x.
586 words, about 3 min5Reporting on a Modified Opinion and Key Audit Matters
You are completing the audit of Calder Engineering plc, a listed company with £300m revenue. Two issues remain at the reporting stage.
643 words, about 3 min