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Level 6 Diploma in Accounting and Business

Audit Risk Analysis

AB604 · Audit and Assurance — Week 7 of 16

CourseAB604
Week7 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Audit Risk Analysis

  1. Audit risk model formulation
  2. Inherent risk assessment
  3. Control risk evaluation
  4. Detection risk factors
  5. Client business risk profiling
  6. AAA SPECIMEM EXAM - Q1 - Crux - ACCA Advanced Audit and Assurance (AAA)
  7. Risk Factors for Accounting Fraud

What you will be able to do

  • 3.1 Analyse audit risk.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: analyse audit risk.

Study materials

Videos

  • AAA SPECIMEM EXAM - Q1 - Crux - ACCA Advanced Audit and Assurance (AAA) · YouTube · OpenTuition · 33 min · for registered students
  • Risk Factors for Accounting Fraud · YouTube · Edspira · 12 min · for registered students

Further resources

  • ISA (UK) 315: Identifying and Assessing the Risks of Material Misstatement (updated September 2025) · PDF · Frc, framework · for registered students
  • ISA (UK) 200: Overall Objectives of the Independent Auditor (updated September 2025) · PDF · Frc, framework · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 6Midterm
Course chat

Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

Open this week in the portal
Course plan
  • Week 1: Foundations and Objectives of Internal Audit
  • Week 2: Internal Audit Principles and Techniques
  • Week 3: Comparative Analysis of Internal and External Audit
  • Week 4: The Auditing Regulatory Environment and Statutory Value
  • Week 5: Professional Ethics and Auditor Conduct
  • Week 6: Contemporary Developments in Audit Practice
  • Week 7: Audit Risk Analysis
  • Midterm: Midterm evaluation
  • Week 9: Minimising and Managing Audit Risk
  • Week 10: Audit Processes and Evidence Gathering
  • Week 11: Audit Finalisation, Reporting, and Regulatory Impact
  • Week 12: Applying Audit and Assurance in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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