ACCA AA (Audit and Assurance) provides you with an understanding of the knowledge and application skills required to carry out an audit engagement. The exam is practical in application, as well as aiming to ensure that candidates who pass this exam understand the basics of an audit. Consequently, the exam aims to strike a balance between technical knowledge as well as a practical application of this knowledge. The Audit and Assurance syllabus starts with the nature, purpose and scope of assurance engagements, including the statutory audit, its regulatory environment, and introduces governance and professional ethics relating to audit and assurance. It then leads into planning the audit and performing risk assessment. The syllabus then covers a range of areas relating to an audit of financial statements including the scope of internal control and the role and function of internal audit. These include, evaluating internal controls, audit evidence, and a review of the financial statements.