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Keep Failing AA?

Richard Clarke

Understanding the Exam

  • Focus: The AA exam tests your understanding of the process of carrying out an assurance engagement and its application within the professional regulatory framework.
  • Pass Rates: Recent pass rates for the AA exam have been around 41-45%

Common Reasons for Failure

  • Lack of Knowledge: Ensure you have a thorough understanding of the syllabus and key concepts. This can be managed by going through each class in aCOWtancy's online classroom and ask yourself afterwards - can I explain the BASICS of this to my friend?
  • Poor Exam Technique: Many students fail due to poor exam technique, such as not answering the question asked or providing irrelevant information. Also many common questions and scenarios just keep popping up so past paper work is vital

Tips for Success

Practice and Application

  • Practice past exam questions and mock exams to familiarise yourself with the exam format and question types.
  • Focus on applying your knowledge to specific scenarios (for the scenario questions - though even here the same sort of scenarios repeat).
  • Pay attention to the verbs in the questions (e.g., explain, describe, evaluate) to understand what is required of you.

Exam Technique

  • Allocate your time effectively during the exam. Spend approximately 1.8 minutes per mark
  • Structure your answers clearly, especially for audit risk and internal control questions
  • Ensure you address all parts of the question and provide relevant, concise answers

Specific Tips from Successful Candidates

  • Take FR Before AA: Knowledge from Financial Reporting (FR) is essential for AA, so ensure you are comfortable with FR concepts
  • Use Rote Learning: Memorise key concepts and terms, as some questions require precise definitions

Conclusion

Passing the AA exam requires a combination of thorough knowledge, effective exam technique, and consistent practice. Reflect on your past attempts and focus on past papers in particular. With dedication and the right approach, you can overcome this challenge and succeed in your next attempt. Good luck!