ICAN · Professional
Advanced Audit, Assurance and Forensics
The Advanced Audit, Assurance and Forensics syllabus for the Institute of Chartered Accountants of Nigeria, broken down by how much of the paper each area is worth. Planning and Undertaking Audit Work is the heaviest at 30% of the marks.
Where the marks are
Percentages are the examinable weighting for each area. Revising in this order puts your time where the marks are.
Planning and Undertaking Audit Work
30%Overall audit strategy (including sustainability assurance) · Assessment of risks, internal controls and internal financial controls · Evaluation of accounting treatments · Specialised audits and investigations: Forensic investigation and reporting · Specialised audits and investigations: Not-for-profit organisations - charities and NGOs · Joint audits · Group audit · Investigations · Due diligence reviews for mergers, acquisitions and business combinations · Sustainability reporting assurance (ISSA 5000) and FRC Nigeria guidelines on assurance and management reporting on internal control over financial reporting
Laws and Regulations on Audit and Assurance Engagements
20%Laws and regulations · Professional and ethical issues
Drawing Conclusions and Reporting
20%Drawing conclusions · Audit report
Quality Management for Professional Firms and Engagements
15%Accepting engagements · Practice management (including quality management ISQM 1 & ISQM 2)
Application of Information Technology (IT) in Auditing
10%Impact of IT on an auditing environment · Benefits of IT control frameworks in internal controls (e.g. COBIT Framework) · Cyber security in relation to audit and investigation · Application and web trust assurance · Application of algorithm reviews in business · Application of digital forensics · Data protection regulation compliance audit · Utilisation of robotic process automation in audit
Current Issues and Development in Audit and Assurance
5%Audit in a blockchain environment · Use of artificial intelligence (AI) in audit · Deployment of virtual reality in audit and assurance · Use of cloud based audit tools · Role of data analytics in auditing · Audit firm/partners' rotation · Transnational audit
What Edentos holds for this paper
- 121 past questions from the Institute’s own papers, with its published solutions.
- Timed mock examinations, written by hand and marked against the examiner’s guide.
Syllabus areas and weightings are published by the Institute of Chartered Accountants of Nigeria. Past questions and their official solutions are the Institute’s copyright and are available to signed-in candidates only.