Armenia Auditor Qualification Exam study plan
Armenia Auditor Qualification Exam · Give each week a clear focus.
8 weeks · About 7 hours per week
Financial Accounting and Reporting (IFRS / Armenian accounting standards)
Map the IFRS standards tested on the exam into a personal checklist and rate your confidence on each
Work through revenue recognition (IFRS 15) by applying the five-step model to three constructed contract scenarios
Reconstruct the structure of the Armenian financial reporting framework and note where it diverges from full IFRS
Build a one-page formula sheet for measurement of inventories, property plant and equipment, and impairment
Your checkpoint
A completed IFRS confidence checklist covering at least 15 standards, each marked strong, weak, or unknown, plus written solutions to the three revenue scenarios
Financial Accounting and Reporting (IFRS / Armenian accounting standards)
Prepare consolidated statements for a parent-subsidiary case including goodwill computation and non-controlling interest
Journalize leases under IFRS 16 for both lessee and lessor across a five-year term
Compute deferred tax balances from a list of temporary differences and justify each classification
Draft disclosure notes for financial instruments at amortized cost and at fair value
Your checkpoint
A full set of consolidated financial statements for a constructed group with supporting workings, lease schedules, and a deferred tax reconciliation
Auditing Standards and Audit Methodology (ISA / Armenian auditing standards)
Sequence the ISA engagement lifecycle from acceptance through reporting and state the objective of each phase
Distinguish the requirements of ISA 315, 330, 500, and 700 and note how each shapes fieldwork
Write risk-of-material-misstatement assessments and linked audit procedures for a constructed entity
Compare Armenian auditing standards to ISAs and record any national additions or departures
Your checkpoint
A written audit strategy memorandum for a constructed client linking assessed risks to specific planned procedures with ISA citations
Audit Evidence, Risk Assessment and Internal Control
Design a risk assessment that separates inherent, control, and detection risk and compute the resulting audit risk model
Evaluate a described internal control system and identify at least five deficiencies with severity ratings
Select appropriate audit procedures for each financial statement assertion and justify the mix of tests of controls and substantive work
Classify sample-selection and documentation weaknesses against ISA 230 and ISA 530 requirements
Your checkpoint
A risk and internal control assessment report for a constructed entity containing a risk register, control deficiency log, and assertion-to-procedure matrix
Taxation (Armenian tax code and tax audit considerations) & Business Law and Civil Law of Armenia
Compute corporate income tax, VAT, and personal income tax liabilities for constructed fact patterns under the Armenian Tax Code
Outline the scope and procedural steps of an Armenian tax audit and the taxpayer's rights during it
Summarize the Armenian Civil Code rules on contract formation, performance, and breach relevant to audit engagements
Identify the business forms available under Armenian law and the auditor's reporting duties tied to each
Your checkpoint
A worked tax computation pack plus a two-page legal summary mapping Armenian contract and entity rules to audit engagement scenarios
Finance, Management Accounting and Business Analysis
Calculate and interpret profitability, liquidity, solvency, and efficiency ratios from a set of financial statements
Perform cost-volume-profit and variance analysis and explain the results in managerial terms
Apply discounted cash flow and payback techniques to an investment appraisal and state the limitations of each
Prepare a written analytical review that links ratio movements to audit risk indicators
Your checkpoint
A financial analysis report with a full ratio table, CVP and variance workings, one investment appraisal, and a section flagging audit-relevant anomalies
Professional Ethics, Independence and Quality Control & Regulation of the Audit Profession in Armenia (licensing, oversight, liability)
Apply the IESBA conceptual framework to three constructed independence threats and document the safeguards chosen
Distinguish the elements of quality control at firm and engagement level and state who is responsible for each
Outline the Armenian licensing pathway, oversight bodies, and the auditor's civil and disciplinary liability exposure
Draft an independence confirmation and an engagement quality review checklist
Your checkpoint
An ethics and regulation casebook with three threat analyses, a licensing and liability summary, and completed independence and quality review templates
Financial Accounting and Reporting (IFRS / Armenian accounting standards) & Auditing Standards and Audit Methodology (ISA / Armenian auditing standards) & Audit Evidence, Risk Assessment and Internal Control & Taxation (Armenian tax code and tax audit considerations) & Business Law and Civil Law of Armenia & Finance, Management Accounting and Business Analysis & Professional Ethics, Independence and Quality Control & Regulation of the Audit Profession in Armenia (licensing, oversight, liability)
Complete two timed full-length mock exams under exam conditions and score each by domain
Re-teach your three weakest domains using your own notes without reference material
Revisit every flagged weak standard from week one and confirm closure or escalate it for further review
Build a final one-page recall sheet of formulas, thresholds, and ISA and code references
Your checkpoint
Two scored mock exams with a domain-by-domain error log, plus a final recall sheet and a list of residual weak areas with a remediation plan
Milestones
Week 2: Score at least 70 percent on a self-made 30-question IFRS quiz covering consolidation, leases, and deferred tax
Week 4: Produce a risk memo that names the correct ISA for each procedure and correctly applies the audit risk model to at least four scenarios
Week 6: Complete the ratio and analytical review report with no arithmetic errors and correctly flag at least three audit risk indicators
Week 8: Average at least 75 percent across both mock exams with no single domain below 60 percent