Auditing Unit, Help!!!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:27AM in AAT student discussion
Hello

I am doing home study and now only have the audit unit to pass.

I am really struggling with it and don't really understand what the simulation involves.

Can anyone give me any advise on what the exam is about and if there is anywhere I can get some help with understanding this unit?

I need to pass in as soon as possible in order to get my excemptions through for CIMA to sit exams in November.

Thanks
AE

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    its mostly about risk management, but unfortunately the only way you can pass is by working at it. If you find the audit sim hard you probably arent ready for CIMA !
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    Auditing is quite a technical area of the accountancy profession. I've seen several posts from other students who are struggling with the audit simulation.

    Blank mentioned that if you struggle with the simulation you aren't ready for progression to CIMA. This is not necessarily true - students struggle with exam papers all the time (I'm a qualified accountant and found most papers at both AAT and ACCA level challenging and difficult) it doesn't mean you aren't ready for the challenge. Exams and simulations are not designed to be "easy".

    I would suggest you bullet point the key areas of the syllabus and gain a basic but broad knowledge of the audit syllabus and then apply this to the simulation. Unfortunately, answers in audit are very broad i.e. there are no specific right or wrong answers unlike in a computational question. It is a matter of applying your knowledge to the simulation.

    Could you not approach your tuition provider for guidance if you are really struggling?

    Kind regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    I have written an auditing article which can be found at:

    http://www.accountingtechnician.co.uk/atonline/archive/features/display/store696/item42031/

    This may be of some help to you.

    Kind regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    Hi AE

    I've done the auditing unit and found the best way to pass is to understand the methods rather than learn auditing tests by rote.

    Remember the "assertions" are what you need to test: completeness, validity, measurement, etc. If you know the tests for these, you can easily apply them to any item that you're testing in the accounts.

    For example, completeness tests involve tracing from ledger to source document, checking sequence numbers, reconcilitions.

    Credit balances on P&L are checked for completeness and mesurement. Debit balances on P&L are checked for validity/occurrence and measurement.

    So for sales, you may trace them from sales order through to sales ledger records such as sales order, check sequence of sales invoices for completeness, check additions for measurement, etc. For purchases, you may vouch them in ledger to a valid purchase order for validity.

    If auditing a balance sheet figure, audit for completeness, rights, valuation, existence.

    You also need to understand confidentiality, professional ethics, etc.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    yeah your right sorry about that, the SIMS are MURDER I HATE THEM. But it really is abuot practice and learning the theory
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    Thanks for your help Steve. I will have a look at your article later.

    I am studying through home study and have found when contacting BPP for help they take ages to reply and its usually doesn't answer my question anyway.

    Still struggling with this unit but I think its probably because its a subject I have no interest in.

    Thanks

    AE
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    BPP have a pretty awful reputation when it comes to distance learning and AAT. I think if you PM katiebpp she will be able to help solve any queries you have.

    Auditing is a somewhat boring subject (it's pretty boring in practice) but as long as you gain a basic knowledge of the main areas you should be fine.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    Does anybody know anywhere where you can get private tuition for this unit?

    I need to pass it by end of June at the latest.

    Thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    Hi All

    I dont work in the homestudy department at BPP any more but in the courses team. If you email aathomestudy@bpp.com and cc me in (katieusmar@bpp.com) with your queries and questions then I'll ensure that someone helps you out.

    If you find that you are really struggling and you live in the London area then we can arrange for you to come in and have a session with a tutor.

    I look forward to your email :o)

    Katie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    I have recently done the auditing simulation. The Osborne book was very good and I would recommend it. I found this unit the easiest of the lot!! So, please don't worry too much.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Auditing Unit, Help!!!!!

    I finally got my head around the auditing unit and sat the simulation yesterday.

    Fingers and toes crossed - I might have finished the AAT in a couple of weeks after a whole 4 years!!

    Thanks for everyone's help with this unit, you were a great help.

    Alisa

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