ACCA FM video Lectures

ACCA FM video Lectures

ACCA Financial Management

Previously know as F9

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What is Materiality?

What is Materiality

Definition: ‘Mistakes, including omissions, are supposed to be material if they, alone or on the whole, could reasonably be expected to affect the economic decisions of users taken on the basis of the financial statements.

In assessing the level of materiality there are a number of sections that should be examined.

Firstly the auditor must suppose both the amount ‘quantity’ and nature ‘quality’ of any misstatements or a mixture of both.

The quantity of the misstatement refers to the comparable size of it and the quality refers to an amount that might be low in value but due to its influence could affect the user’s decision, for example, directors’ activities.

In assessing material amount the auditor must consider that a number of errors each with a low value may be material when aggregated amount to a material misstatement.

The assessment of what is material is finally a matter of the auditor’s professional capacity, and it is influenced by the auditor’s understanding of the financial information needs of users of the financial statements and the detected level of risk;

The higher risk then takes a lower level of overall materiality.

Material by the amount for F/S as a whole

  • 1% of revenue
  • 2% of total assets
  • 10% of PBT

Material by nature

  • Related party transactions
  • Bank balances
  • Fraud/ Unlawful transactions (e.g. illegal payments)
  • Violation of regulatory requirements
  • Failure to meet requirements of debt-covenants
  • Key Performance Indicators of the company (e.g. converting loss into profit)
  • Incorrect selection or application of an accounting policy that has an immaterial effect on the current period but is likely to have a material effect on future periods

Performance Materiality

Performance materiality is usually set at a level lower than overall materiality. It is used for testing each transaction, account balances, and disclosures. The purpose of performance materiality is to decrease the risk that the total of mistakes in balances, transactions, and disclosures does not in total exceed overall materiality.

Planning Materiality Vs Performance Materiality

Planning MaterialityPerformance Materiality
1. Have Benchmark1.No Benchmark (Auditors assessment)
2. One single amount for the entire Financial Statement2. Different amounts for different ledgers/accounts.
3. Use to judge important account balance and class of transaction3. Individual balance in an individual 

Read More: AUDIT RISK and Auditor Response


ACCA PM Video Lectures

ACCA PM Video Lectures

ACCA Performance Management

Previously known as F5

ACCA PM Video Lectures For students, for exam preparations within one week online lectures, Course Refresher in last days of the

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Performance Management is a mixed paper of Theoretical + Theory areas

Mostly Examiner focus on Theoretical Aspects of the paper, don’t try to selective study as MCQs can be from any area of PM, and this paper demands practice as much as you, Practic Practic Practic. this assures your success in the, and another thing is its also time saver in exam time if you are used to solving questions then you can solve question more quickly in Exam pressure,

ACCA PM Video Lectures will help you to refresh your course in five days, take one video daily and that day only solve questions related to that topic, And don’t to copy answers from any answer sheet because there is no paper to copy from you will need to solve by your self. Students Good Luck for your exams in the coming attempt, you can Contact US if you need any kind of help for your papers, study hard

Read More: AAA Video Lectures

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ACCA AAA Video Lectures

ACCA AAA Video Lectures

ACCA Advance Audit and Assurance AAA

ACCA P7 Advanced Audit and Assurance Video Lectures

ACCA revision courses

Free Online ACCA P7 lectures, Advanced audit and assurance, Download free P7 course notes, 15 hours of free videos. ACCA Global P7 exam is all about technique

“Don’t let what you cannot do interfere with what you can do ”

Day 1

Day 2

Day 3

Day 4

Day 5

Day 6

  • Risk assessment
  • Business risk
  • Risk of material misstatement
  • Audit risk
  • Analytical review
  • Audit procedures
  • Ethical matters
  • Conclusion 

Advanced audit and assurance (AAA) is a theoretical paper mostly, in this exam examiner except to perform like a professional accountant and identify problem and solution, this paper also linked with Strategic business reporting (SBR). because you need to apply IASs and IFRS were needed to support your evidence.

Also in AAA exam examiner test many topics straightforwardly, so those topics you need to rote learn,

As well there is no shortcut to success, so prepare every single topic in your book, the examiner can test anything, also read technical articles of AAA written by AAA examiner.

Practice makes perfect. so try to solve ACCA past papers as much as you can, by solving every single question you will feel comfortable about that topic.

Read More: How to Pass ACCA AAA

ACCA Exam Tips


ACCA Exam dates

acca exam dates

ACCA Exam Dates and Deadlines

ACCA Exam dates for June 2020, September 2020 and December 2020 ACCA Exams Deadline

acca exam dates

Exam start times

Details of local start times can be found on the Exam Planner and will be stated on exam dockets.

We know you’ve been waiting for clarification on the June exam sittings and we thank you for your patience in these extraordinary times which have created a difficult time for ACCA students.

 ACCA recognized and confirmed that ACCA will not be running exams in June in
Pakistan, Saudi Arabia, Bangladesh, Sri Lanka, and the Maldives. 
Check exam status in your country

June 2020

ACCA Exam dates for June 2020

  • Early exam entry deadline date – 10 February 2020
  • Stander exam entry deadline- 27 April 2020
  • Late exam entry deadline – 4 May 2020
  • March 2020 Exam results will be announced on 13 July 2020

ACCA Exams Date for 1 – 5 June 2020

Monday 1st June 2020 Tuesday 2nd June 2020Wednesday 3rd June 2020Thursday 4th June 2020Friday 5th June 2020
Audit and Assurance (AA)Taxation (TX)Performance Management (PM)Financial Reporting (FR)Financial Management (FM)
Advanced Audit and Assurance (AAA)Advanced Taxation (ATX)Advanced Performance Management (APM)Strategic Business Reporting (SBR)Advanced Financial Management (AFM)
Strategic Business Leader (SBL)

September 2020

ACCA Exam dates for September 2020

  • Early exam entry deadline date – 11 May 2020
  • Stander exam entry deadline- 27 July 2020
  • Late exam entry deadline – 3 August 2020
  • September 2020 Exam Result will be announced on 19 Oct 2020

ACCA Exams Date for 7 – 11 September 2020

Monday 7 Sep 2020Tuesday 8 Sep 2020Wednesday 9 Sep 2020Thursday 10 Sep 2020Friday 11 Sep 2020
Audit and
Taxation (TX)Performance Management (PM)Financial
Management (FM)
Audit and
Assurance (AAA)
Performance Management (APM)
Management (AFM)
Law (LW)

December 2020

ACCA Exam dates for December 2020

  • December 2020 Exam Result will be announced on 4 January 2021

ACCA Exams Date for 7 – 11 December 2020

Monday 7 Dec 2020Tuesday 8 Dec 2020Wednesday 9 Dec 2020Thursday 10 Dec 2020Friday 11 Dec 2020
Audit and Assurance (AA)Taxation (TX)Performance Management (PM)Financial Reporting (FR)Financial Management (FM)
Advanced Audit and Assurance (AAA)Advanced Taxation (ATX)Advanced Performance Management (APM)Strategic Business Reporting (SBR)Advanced Financial Management (AFM)
Strategic Business Leader (SBL)Technical Role Simulation (TRS)Corporate and Business Law (LW)


Can i change ACCA Exam entry?

Yes you can change or cancel exam entry before stander entry date.

How many times ACCA exams per year?

ACCA exams held 4 times a year, March-June-September-December

What time do ACCA exams start?

Exam time will be available on your docket, issued by ACCA

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Audit and Assurance Video Lectures

ACCA AA Video Lectures

Audit and Assurance Video Lectures

Previously know as F8

Here are AA Audit and Assurance Video lectures, held by ACCA. for exam preparation within a few days with these short lectures,

The best preparation for tomorrow is doing your best today.

This is one-week revision classes, at the end of day 6, hopefully, you will be able to pass your exam of Audit & Assurance,

How ever practice makes perfect, try to practice past exam questions as much as you can.

There is no shortcut to success, so don’t be trying to guess the exam questions, every single topic is important and you should prepare every topic its necessary

Day 1

Day 2

Day 3

Day 4

Day 5

Day 6

it’s all, now best of luck for your ACCA exam of Audit and Assurance.

Exam rule is:

  • Don’t be panic at all
  • Do your best
  • Don’t leave any question unanswered

As well also prepare straight forward knowledge too. because in the audit exam there are many areas that examiner test straightforwardly and purely knowledge-based. so those can be rote learning. for for you can check our Audit and Assurance exam tips

Substantive procedures are a major area of the Audit and Assurance course, so you need to learn substantive procedures very defectively.

Let us sacrifice our today so that our children can have a better tomorrow



Threats to Auditor Independence

threats for auditor

International Code of Ethics for Professional Accountants ACCA AA & AAA

Conceptual Framework

Conceptual Framework
Conceptual Framework

What is Auditor Independence? & Threats to Auditor Independence

Auditors are expected to provide an unbiased opinion on the work that they have performed. An auditor who has lacks of independence or has Threats to Auditor Independence, his audit report useless to those who rely on it.

For example, consider yourself a potential shareholder in XYZ Company. If you know that the auditor for XYZ Company keeps a personal relationship with the CEO of the company, would you trust that the audited work is a fair representation of the company’s financial standing? How can you be certain that the auditor and CEO did not influence issues a favorable audit report? so must ensure that Auditor no have Threats to Auditor Independence

Read moreThreats to Auditor Independence

Fundamental principles of ethics

Fundamental principles of ethics

Here are Fundamental principles of ethics described by ACCA to be followed by all ACCA members, Students must be memorized all of them, this can be tested straightforward and in MCQ’s in CBE.


5 Fundamental principles of ethics described by ACCA


The auditor should be straight forward & honest in all professional and business relationships. Auditors will be associated with communications, returns or other information and reports where they believe that the information contains materially false or misleading statements.


Members should not allow bias, conflicts of undue or interest influence of others to override professional or business judgments.

Read moreFundamental principles of ethics

How to Pass ACCA AAA

How to Pass ACCA P7 AAA

How to Pass ACCA AAA Advanced Audit and Assurance, Answering Techniques

How to Pass ACCA AAA

Regulatory Environment

Syllabus Area A, B & C

  • Law and Regulations
  • Money Laundering

Professional and Ethical Considerations

  • Code of Ethics
  • Fraud and Error
  • Professional Liability

Practice Management

  • Quality
  • Obtaining and accepting professional assignments

Commonly Tested Requirements

Comment on the

  • Ethical
  • Professional
  • Quality Control
  • And other issues
  • And Recommend Further action to be taken


identify the issue from the scenario, Link to IESBA’s code of ethics and write the relevant safeguard from the code.


Identify issues from the scenario related to the WAY the audit work has been done, explain why it is wrong and what impact it will have on the audit.

Quality control:

identify the issue from the scenario related to the WAY the audit work has been done, explain why it is wrong and link it to the element of Quality control (ISQC or IAS) that has not been conducted properly.

Recommend further action:

what steps should the auditor take next regarding each issue identified and discussed above?

1. Answering technique for Risk of Material Misstatement in Financial Statement.

  1. Comment on Materiality
  2. Write the relevant IFRS/IAS treatment
  3. Explain the risk, Make sure you clearly mention which part of the F/S (Amount or Disclosure) is under or overstated

2. An answering technique for Matters to consider and Audit Evidence or Audit Procedure

Matters to consider

  • Comment on Materiality
  • Relevant IFRS treatment (there might be more than on IFRS!)
  • Risk/other issues based on the information given in the scenario

Audit procedures OR evidence

  • Substantive testing: inspection, Enquiry, External confirmation, recalculation, discussion, etc
  • Audit Evidence: Start your answer with ‘I would expect to see…’

3. The answering technique for Audit Opinion and audit Report

The question would normally begin with matters that need to be discussed with the management at the completion stage or further procedures at the completion stage. These will be answered by writing further procedures/ discussions that need to be done based on the information given.

The question will then ask for an impact on audit opinion and audit reports.

Writing the opinion
  1. Mention whether it is a misstatement or an inability to get the sufficient appropriate evidence
  2. Calculate and explain whether it is immaterial OR material OR pervasive
  3. Decide and write the opinion: Unmodified or modified. IF modified, explain the TYPE of opinion QUALIFIED EXCEPT FOR or ADVERSE or DISCLAIMER of opinion.
Writing the impact
  1. if the opinion is modified (above), explain the changes to the audit report
    • The heading of opinion and basis for opinion paragraph will change, explain what the headings will be
    • In the basis for opinion paragraph, nature, amount, IFRS and impact will be explained
  2. Evaluate whether any additional paragraph will be needed, for example, MUGC, EQPM, or OMP or maybe something needs to
Critically Evaluate an Audit report extract

Find answers to the following:

  1. Is the type of opinion correct?
  2. Opinion and basic for opinion paragraph Headings correct?
  3. Basic for opinion (All FOUR of these mentioned? Nature, amount, impact, IFRSs)
  4. Additional paras: Need? if yes, placement is correct?
  5. KAM: Do matters identified as KAM actually fulfill the criteria of being called KAM? introduction proper i.e to explain the concept of KAM etc.? Significance of issues identified as KAM and how these affected auditors’ efforts explained? How each KAM was addressed in the audit explained? placement of the paragraph correct?
  6. Unprofessional wording?
  • Required formate
  • with a professional tone and use of language
  • avoiding ambiguity, unnecessary explanations, and repetition.
  • Language concise, clear and factual
  • use ‘justifying’ words, such as ‘because’, For example ”I recommend you this because…..”

Read More: Financial Ratio Analysis

Threats to Auditor Independence

Six Exam apps students must have