The CMA (ICMAB) AA 133 - Auditing Exam Preparation Course is structured into 24 live classes, spanning a total of 35 hours. This course is meticulously designed to equip students with a robust understanding of auditing principles and practices, ensuring their readiness for the CMA-ICMAB auditing exam. The journey begins with an introduction to audit and assurance, highlighting the various types of audits and their significance. Following this, students explore the responsibilities and professional liabilities of auditors, emphasizing the importance of ethical conduct and adherence to professional standards.
Quality control is another critical area covered early in the course, where students learn about quality control standards and the elements that constitute an effective quality control system. Practical sessions on exam standard question practice are interspersed throughout the course to familiarize students with the format and types of questions they will encounter in the exam.
The course then moves into more technical aspects of auditing, such as the acceptance of engagements, which is divided into two parts to thoroughly address client acceptance, engagement letters, and preliminary risk assessments. Audit risk is another major focus, covered in detail over two sessions, where students learn about inherent, control, and detection risks, as well as risk assessment procedures.
Audit planning is discussed in-depth in two classes, emphasizing the development of audit strategies and the importance of materiality and resource allocation. Obtaining and evaluating audit evidence is a critical skill, covered over three classes, where students explore various procedures and the use of experts. The course also delves into understanding and assessing internal controls and conducting substantive and analytical audit procedures.
The final sessions are dedicated to audit completion, review, and reporting, ensuring students are well-versed in audit completion procedures, subsequent events review, and audit report preparation. Extensive practice with past exam questions in the last few classes reinforces learning and builds confidence. This comprehensive course ensures that students are well-prepared to tackle the CMA-ICMAB auditing exam with confidence and competence.
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