AAT - External Audit


Studying for the AAT External Audit exam

The content of this Knowledge Bank is not designed to be a substitute for a structured system of study towards the exams but rather should help complement your chosen study system.

In particular,

  • we do not guarantee full syllabus coverage,
  • the content here is not necessarily pitched at the right level of difficulty for your exam - in particular it may go beyond what you need,
  • the knowledge bank focusses on knowledge, concepts and ideas but has very few worked examples or graded exercises for you to practice,
  • there are no past exam questions here to attempt
  • examiner's articles and other official guidance are not repeated here.

We highly recommend that you complete a structured course of study and obtain text books and exam kits to improve your chances of exam success.

Using the Kaplan Financial Knowledge Bank

The main benefits of the way the content is presented and accessed via the Knowledge Bank are as follows:

  • a quick answer to a quick question - if you have a  query then you should be able to access a trusted answer quickly and efficiently using either the search function, the top navigation bars or /and the side navigation.
  • integrated knowledge - examiners often criticise students for not appreciating how different topics fit together. By following the structured links and navigation bars in the content, you can explore related concepts to integrate your knowledge.
  • assumed knowledge - you can revise assumed knowledge from lower papers by searching for the relevant topics and reading around the subjects.

The AAT External Auditing syllabus

 A good page to start on if you are unclear where to begin would be the overview Audit and Assurance page.Be aware that in many areas the content here goes beyond what you need so gives you an excellent opportunity to read around the topics.

Other useful starting points for exploration are linked to syllabus areas below.

The syllabus for External Audit is split into 5 main learning outcomes (LOs):

LO1 Understand the organisation’s systems and the external auditing procedures

The best page to start with here is the one on Internal Systems of Control. Make sure you also explore the related pages shown on the menus at the top and /RHS of the page.

LO2 Plan an audit identifying areas to be verified and any associated risks

The knowledgebank has a great deal of content on audit planning. The best place to start is with the Audit Planning page, followed by the Audit Planning Process and Sampling pages. 

LO3 Conduct an audit under supervision

Start with the main page on Audit Evidence before exploring the linked pages and topics.

LO4 Prepare draft reports for approval

The best page to start with for reporting is the Audit Reports page.

LO5 Understand auditing principles and legal and professional standards required for an external auditor

Start with the page on Auditors' Responsibilities Regarding Laws Regulations and then explore the pages linked to it, especially the one on the auditor's responsibility concerning Fraud.

Created at 12/4/2013 5:25 PM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London
Last modified at 12/17/2013 1:22 PM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London

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