After 8 weeks of preparation for AA exam I passed AA exam.
Erin 
Exam Code: AA
Exam Name: Audit & Insurance
Certification Provider: CPA
Corresponding Certification: Certified Public Accountant
Exam Name: Audit & Insurance
Certification Provider: CPA
Corresponding Certification: Certified Public Accountant
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Instant Download CPA : AA Questions & Answers as PDF & Test Engine
Updated: Oct 11, 2026
No. of Questions: 80 Questions & Answers with Testing Engine
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You do not need to review every single day to make progress. Practice the AA exam questions in your spare time, and let the expert-verified answers make each session conclusive. In 2026, the CPA Audit & Insurance bank at iPassleader turns scattered free moments into real preparation.
CPA AA Exam Overview:
| Certification Vendor: | CPA Australia |
|---|---|
| Exam Name: | Audit and Assurance (AA) |
| Exam Number: | AA |
| Exam Format: | Constructed response questions, Multiple choice questions, Case studies, Computer-based exam |
| Exam Duration: | 180 minutes |
| Passing Score: | 540/900 (scaled score) |
| Certificate Validity Period: | CPA designation requires ongoing CPD; subject completion contributes to CPA Program (typically within program completion timeframe) |
| Related Certifications: | CPA (Certified Practising Accountant) |
| Available Languages: | English |
| Recommended Training: | CPA Australia Official Learning Resources |
| Exam Registration: | CPA Australia CPA Program Registration |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Computer-based examination (often proctored online or at designated test centers depending on region) |
| Pre Condition: | No mandatory prerequisite, but completion of CPA foundation and core subjects is typically required within the CPA Program structure. |
| Official Syllabus URL: | https://www.cpaaustralia.com.au |
CPA AA Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Audit and Assurance Fundamentals | - Nature and purpose of audit and assurance - Types of assurance engagements |
| Audit Evidence and Procedures | - Audit procedures and techniques - Sampling and substantive testing |
| Audit Reporting | - Audit opinions and reports - Modifications to audit opinion |
| Audit Planning and Risk Assessment | - Materiality and audit strategy - Understanding the entity and its environment - Risk of material misstatement |
| Professional Ethics and Legal Responsibilities | - Auditor independence and professional conduct - APES 110 Code of Ethics |
| Internal Controls | - Internal control systems and components - Control testing and evaluation |
AA Exam Facts and Product Details
The AA exam is one of the hotter assessments from CPA, and it leads to the CPA Audit & Insurance certification — a credential many IT professionals are pursuing right now. Its popularity raises the stakes of preparation: choosing the right study material is a genuinely wise decision, and it is the one fully in your hands.
Automatically, and immediately. The moment a new version of the CPA Audit & Insurance bank is released, our system sends it straight to your email — your only job is to check your inbox. This update service is free for 365 days from your purchase date, and extending it afterward costs half price with the renewal discount. The AA exam materials never go stale on you.
Registration for the AA exam runs through these official channels:
Register when your spare-time practice sessions are producing consistently strong results.
No mandatory prerequisite, but completion of CPA foundation and core subjects is typically required within the CPA Program structure.
The official outline divides the AA exam into weighted domains, including:
- Audit Evidence and Procedures ()
- Audit Reporting ()
- Audit and Assurance Fundamentals ()
The CPA Audit & Insurance bank at iPassleader is created by IT experts and certified trainers around these same objectives, and updated daily against them.
Classes have fixed schedules, commutes, and course fees; self-paced preparation has none of those. With the CPA Audit & Insurance materials, you practice the AA exam questions in your spare time, on any device, reviewing only what your results say needs review — a structure that saves both time and money. The content is created by IT experts and certified trainers, so flexibility costs you nothing in quality.
CPA recommends these training resources for candidates:
Official training and self-paced practice answer different needs — many candidates use official resources for depth and our bank for daily exam readiness.
CPA Audit & Insurance Sample Questions:
John has been given the following draft figures for Kulran Ltd for the year ended 30 June 2011 to analyse. Materiality has been set at $35,000 and the finance director has told John in a planning meeting that there have been few changes in the year. Budgets were set at 2010 levels and there have been no major movements in non-current assets.
20112010
$$
Revenue3,497,2843,487,286
Cost of sales1,867,2942,008,967
Salaries467,900420,975
Which of the following is normally designed to detect possible material monetary errors in the above figures of financial statements?
- A. Walk-through test
- B. Observation of a procedure
- C. Test of control
- D. Analytical procedure
Correct Answer: D 🗳️
Rostar Ltd develops games for X-box and PCs. The unique gaming experience made the company outstandingly popular among the local customers and its last game release outperform its expectation. This popularity leads to sudden growth in revenues that quadrupled during the last period. As a result, Rostar Ltd is now obliged to have a statutory audit for the first time.
Which of the following is not a benefit that Rostar Ltd may obtain from the statutory audit?
- A. Recommendations on systems via management letter
- B. Assurance of compliance with Companies Act
- C. Independent confirmation of profits earned/net assets
- D. Increased accountability of the IT department
Correct Answer: D 🗳️
The auditor shall maintain an attitude of professional scepticism throughout the audit, recognising the possibility that a material misstatement due to fraud could exist, notwithstanding the auditor's past experience of the honesty and integrity of management and those charged with governance.
Which of the following best describes professional scepticism?
- A. The auditor should always assume the worst outcome in cases of uncertainty.
- B. The auditor should not believe anything that management tells him.
- C. The auditor should apply a questioning mind to the information and evidence he obtains.
- D. The auditor should not believe anything that management tells him, without obtaining supporting evidence.
Correct Answer: C 🗳️
David Copper is performing the audit of financial statement of Igma Co and is in doubt about some of the transactions.
If David believes an illegal act may have occurred, which of the following will be the LEAST necessary action?
- A. Consider accumulating additional evidence to determine if there is actually an illegal act.
- B. Consult with Igma Co's legal counsel.
- C. Inquire of management of Igma Co, at a level above those likely to be involved with the illegality.
- D. File a case against the client as soon as possible.
Correct Answer: D 🗳️
The following is an extract from an independent accountant's unmodified report on a profit forecast:
'Based on our examination of the evidence supporting the assumptions, nothing has come to our attention which causes us to believe that these assumptions do not provide a reasonable basis for the forecast.'
Which of the following is the most appropriate type of assurance provided by this statement?
- A. High level of assurance expressed negatively
- B. Negative assurance expressed positively
- C. Positive assurance expressed negatively
- D. Limited level of assurance expressed negatively
Correct Answer: D 🗳️
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