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Fundamentals level - The Skills module (F4-F9)

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ACCA EXAM TIPS F8 (Audit & Assurance)

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zohaiby2k - 10 Nov 2007, 01:27 pm
FTC

■ Ethics - objectivity, conflicts of interest
■ Planning - identifying and explaining/addressing risks in a scenario
■ Internal controls - weaknesses and recommendations
■ Audit evidence - substantive tests, sales and debtors
■ Completion - overall review
■ Internal audit - role, reliance by external auditors




Marcus Evans

■ Ethics/independence - with conflicts of interest
■ Identification of audit risks (scenario-based)
■ Internal controls - computerized system (payroll or purchases)
■ Substantive testing - covering a number of items
■ CAATs
■ Corporate governance (including role of internal auditor)
■ Management representations
■ Fraud
■ Appointment/removal
■ Analytical procedures




BPP

■ Audit procedures such inventory
■ Revenue and receivables
■ Purchases and payables
■ Internal controls, the auditor’s use of CAATs
■ Audit ethics
■ Audit risk
■ Corporate governance with either internal or external audit
■ Internal controls, possibly with requirements in ‘report to management’
Mark C - 11 Nov 2007, 05:45 am
With ref to FTC exam tips
What does Completion - overall review mean?which chapt on BPP text?

regards

Mark


* Ethics - objectivity, conflicts of interest
* Planning - identifying and explaining/addressing risks in a scenario
* Internal controls - weaknesses and recommendations
* Audit evidence - substantive tests, sales and debtors
* Completion - overall review
* Internal audit - role, reliance by external auditor
zohaiby2k - 11 Nov 2007, 08:43 am
Completion overall review is related to Goin Concern Issues & Review Of FS after ccompleting the Audit but before the Opinion....
equity 7 - 18 Nov 2007, 05:55 am
Dear Zohaiby,
Do you have exam tips on F8 from FTMS?Please do email me at saraswathydurga@yahoo.com.Thanks.