2015年ACCA考试《审计与认证业务F8》知识点分析(4)
2015年ACCA考试《审计与认证业务F8》知识点分析（4）本文由高顿ACCA整理发布，转载请注明出处ELEVANT TO CAT QUALIFICATION PAPER 8 AND ACCA QUALIFICATIONPAPERS F8 AND P7SPECIFIC ASPECTS OF AUDITING IN ACOMPUTER-BASED ENVIRONMENTInformation technology (IT) is integral to modern accounting and management information systems. It is, therefore, imperative that auditors should be fullyaware of the impact of IT on the audit of a client’s financial statements, both inthe context of how it is used by a client to gather, process and report financialinformation in its financial statements, and how the auditor can use IT in theprocess of auditing the financial statements.The purpose of this article is to provide guidance on following aspects ofauditing in a computer-based accounting environment:? Application controls, comprising input, processing, output and masterfile controls established by an audit client, over its computer-basedaccounting system and? Computer-assisted audit techniques (CAATs) that may be employed byauditors to test and conclude on the integrity of a client’scomputer-based accounting system.Exam questions on each of the aspects identified above are often answered to an inadequate standard by a significant number of students – hence the reason for this article.Dealing with application controls and CAATs in turn:APPLICATION CONTROLSApplication controls are those controls (manual and computerised) that relate to the transaction and standing data pertaining to a computer-based accounting system. They are specific to a given application and their objectives are to ensure the completeness and accuracy of the accounting records and the validity of entries made in those records. An effective computer-based system will ensure that there are adequate controls existing at the point of input, processing and output stages of the computer processing cycle and over standing data contained in master files. Application controls need to be ascertained, recorded and evaluated by the auditor as part of the process of determining the risk of material misstatement in the audit client’s financial statements.Input controlsControl activities designed to ensure that input is authorised, complete,accurate and timely are referred to as input controls. Dependent on the complexity of the application program in question, such controls will vary in terms of quantity and sophistication. Factors to be considered in determining these variables include cost considerations, and confidentiality requirements with regard to the data input. Input controls common to most effective application programs include on-screen prompt facilities (for example, a request for an authorised user to ‘log-in’) and a facility to produce an audit2SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED ENVIRONMENTJANUARY 2011trail allowing a user to trace a transaction from its origin to disposition in the system.Specific input validation checks may include:Format checksThese ensure that information is input in the correct form. For example, the requirement that the date of a sales invoice be input in numeric format only –not numeric and alphanumeric.Range checksThese ensure that information input is reasonable in line with expectations. For example, where an entity rarely, if ever, makes bulk-buy purchases with a value in excess of $50,000, a purchase invoice with an input value in excess of $50,000 is rejected for review and follow-up.Compatibility checksThese ensure that data input from two or more fields is compatible. For example, a sales invoice value should be compatible with the amount of sales tax charged on the invoice.Validity checksThese ensure that the data input is valid. For example, where an entity operates a job costing system – costs input to a previously completed job should be rejected as invalid.Exception checksThese ensure that an exception report is produced highlighting unusual situations that have arisen following the input of a specific item. For example, the carry forward of a negative value for inventory held.Sequence checksThese facilitate completeness of processing by ensuring that documents processed out of sequence are rejected. For example, where pre-numberedgoods received notes are issued to acknowledge the receipt of goods intophysical inventory, any input of notes out of sequence should be rejected.Control totalsThese also facilitate completeness of processing by ensure that pre-input,manually prepared control totals are compared to control totals input. For example, non-matchi ng totals of a ‘batch’ of purchase invoices should result inan on-screen user prompt, or the production of an exception report forfollow-up. The use of control totals in this way are also commonly referred toas output controls (see below)Check digit verificationThis process uses algorithms to ensure that data input is accurate. Forexample, internally generated valid supplier numerical reference codes, should 3 SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASEDENVIRONMENTJANUARY 2011be formatted in such a way that any purchase invoices input with an incorrectcode will be automatically rejected.Processing controlsProcessing controls exist to ensure that all data input is processed correctlyand that data files are appropriately updated accurately in a timely manner. The processing controls for a specified application program should be designed and then tested prior to ‘live’ running with real data. These may typically include the use of run-to-run controls, which ensure the integrity of cumulative totals contained in the accounting records is maintained from one data processing run to the next. For example, the balance carried forward on the bank account in a company’s gen eral (nominal) ledger. Other processing controls should include the subsequent processing of data rejected at the point of input, for example:A computer produced print-out of rejected items.Formal written instructions notifying data processing personnel of the procedures to follow with regard to rejected items.Appropriate investigation/follow up with regard to rejected items.Evidence that rejected errors have been corrected and re-input.Output controlsOutput controls exist to ensure that all data is processed and that output is distributed only to prescribed authorised users. While the degree of output controls will vary from one organisation to another (dependent on the confidentiality of the information and size of the organisation), commoncontrols comprise:? Use of batch control totals, as described above (see ‘input controls’). Appropriate review and follow up of exception report information toensure that there are no permanently outstanding exception items.Careful scheduling of the processing of data to help facilitate thedistribution of information to end users on a timely basis.Formal written instructions notifying data processing personnel ofprescribed distribution procedures.Ongoing monitoring by a responsible official, of the distribution of output,to ensure it is distributed in accordance with authorised policy.Master file controlsThe purpose of master file controls is to ensure the ongoing integrity of the standing data contained in the master files. It is vitally important that stringent ‘security’ controls should be exercised over all master files.These include:appropriate use of passwords, to restrict access to master file datathe establishment of adequate procedures over the amendment of data, comprising appropriate segregation of duties, and authority to amendbeing restricted to appropriate responsible individuals? regular checking of master file data to authorised data, by an independent responsible official4SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED ENVIRONMENTJANUARY 2011? processing controls over the updating of master files, including the use of record counts and control totals.COMPUTER ASSISTED AUDIT TECHNIQUES (CAATs)The nature of computer-based accounting systems is such that auditors may use the audit client company’s computer, or their own, as an audit tool, to assist them in their audit procedures. The extent to which an auditor may choose between using CAATs and manual techniques on a specific audit engagement depends on the following factors:the practicality of carrying out manual testingthe cost effectiveness of using CAATsthe availability of audit timethe availability of the audit client’s computer facilitythe level of audit experience and expertise in using a specified CAATthe level of CAATs carried out by the audit client’s internal audit functionand the extent to which the external auditor can rely on this workThere are three classifications of CAATs – namely:Audit softwareTest dataOther techniquesDealing with each of the above in turn:Audit softwareAudit software is a generic term used to describe computer programs designed to carry out tests of control and/or substantive procedures. Such programs may be classified as:Packaged programsThese consist of pre-prepared generalised programs used by auditors and are not ‘client specific’. They may be used to carry out numerous audit tasks, for example, to select a sample, either statistically or judgementally, during arithmetic calculations and checking for gaps in the processing of sequences. Purpose written programsThese programs are usually ‘client specific’ and may be used to carry out tests of control or substantive procedures. Audit software may be bought ordeveloped, but in any event the audit firm’s audit plan should ensure thatprovision is made to ensure that specified programs are appropriate for aclient’s system and the needs of the audit. Typically, they may be used tore-perform computerised control procedures (for example, cost of salescalculations) or perhaps to carry out an aged analysis of trade receivable(debtor) balances.Enquiry programsThese programs are integral to the client’s accounting system; however they may be adapted for audit purposes. For example, where a system provides for the routine reporting on a ‘monthly’ basis of employee starters and leavers更多ACCA资讯请关注高顿ACCA官网：。
ACCA F8科目考试重点分析
ACCA F8科目考试重点分析本文由高顿ACCA整理发布，转载请注明出处Part 1:理论知识部分（一）assurance engagement：五个要素四种鉴证业务及其提供的鉴证业务的水平这部分考试基本会在选择题或者是单纯的知识点书写的题目中出现，不太容易联系题目中的情景，因此要对这部分的知识熟记于心。
（二）Corporate Governance:Chairman&ceo : segregation of dutiesED&NED:BalanceNED supervise ED’s work Audit committee Remuneration committee Nomination committee Risk committee关于公司治理方面，一般以情景题的形式考察大家对于知识点的理解，因此在读题目的时候，凡是违背CG要求的都是公司治理的薄弱环节，提出的改善意见就是我们介绍的CG 的准则。
（三）Professional Ethics：IntegrityObjectivesCompetence and due careConfidentialProfessional behavior对应的在这部分要掌握的还有五个threat：FamiliaritySelf-interestSelf-reviewAdvocacyIntimidation与之相对应的safeguard：Disposal（股票等资产），independent third party review，report to audit committee，rotation，resignation，refuse这部分内容每年必考，首先对于五个基本的职业道德，你要会解释定义，另外，五种威胁你要会判断并且写出相应的safeguard。
Part 2:审计实践第一步：Acceptance of a clientLowballing的概念Client screening的概念Engagement letter：written form，terms of responsibilities of mgt and auditors, known by mgt and auditors.基础的概念要了解是什么意思，会写定义，对于审计鉴证业务约定书，要明确这个约定书的内容以及签订的目的第二步：Understanding the business需要掌握的知识点有：Fraud：区别fraud与human error的，明确mgt和external auditors对于fraud 的不同责任interim audit与final audit的区别Business risk与audit riskmateriality：定义，计算基准，benchmarkDocumentation: permanent和current audit files的区别这部分知识点经常在历年考题的Q3中出现，给你一个情景，让你找到这个被审计客户的audit risk并且写出审计人员的应对方案，我们说凡是涉及到企业的新的改变，比如上马一套新的应用系统，制定一个新的策略，都是我们审计需要关注的地方，都是audit risk容易产生的地方，尤其要对涉及到的相应的会计准则的处理非常熟悉。
2015年ACCA考试《审计与认证业务F8》知识点归纳
2015年ACCA考试《审计与认证业务F8》知识点归纳本文由高顿ACCA整理发布，转载请注明出处ISA 315 (REVISED), IDENTIFYING AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING THE ENTITY AND ITS ENVIRONMENTOne of the major revisions of ISA 315 relates to the inquiries made by external auditors of the internal audit function since internal auditors have better knowledge and understanding of the organisation and its internal control. This article addresses and highlights the components of internal controlThe International Auditing and Assurance Standards Board (IAASB) issues International Standard on Auditing (ISA) for international use. From time to time, ISAs are revised to provide updated standards to auditors. In order to enhance the overall quality of audit, IAASB published a consultation draft on a proposed revision to ISA 315. The objective in revising ISA 315 is to enhance the performance of external auditors by applying the knowledge and findings of an entity’s internal audit function in the risk assessment proce ss, and to strengthen the framework for evaluating the use of internal auditors work to obtain audit evidence.In March 2012, ISA 315 (Revised) was approved and released. One of the major revisions of ISA 315 relates to the inquiries made by external auditors of the internal audit function since internal auditors have better knowledge and understanding of the organisation and its internal control. This article addresses and highlights the components of internal control.OBJECTIVES IN ESTABLISHING INTERNAL CONTROLSGenerally speaking, internal control systems are designed, implemented and maintained by the management and personnel in order to provide reasonable assurance to fulfil the objectives – that is, reliability of financial reporting, efficiency and effectiveness of operations, compliance with laws and regulations and risk assessment of material misstatement. The manner in which the internal control system is designed, implemented and maintained may vary with the entity’s business nature, si ze and complexity, etc. Auditors focus on both the audit of financial statements and internal controls that relates to the three objectives that may materially affect financial reporting.In order to identify the types of potential misstatements and to determine the nature, timing and extent of audit testing, auditors should obtain an understanding of relevant internal controls, evaluate the design of the controls, and ascertain whether the controls are implemented and maintained properly.The major components of internal control include control environment, entity’s risk assessment process, information system (including the related business processes, control activities relevant to the audit, relevant to financial reporting, and communication) and monitoring of controls.ACCACONTROL ENVIRONMENTThe control environment consists of the governance and management functions and the attitudes, awareness and actions of the management about the internal control. Auditors may obtain an understanding of the control environments through the following elements.1. Communication and enforcement of integrity and ethical values It is important for the management to create and maintain honest, legal and ethical culture, and to communicate the entity’s ethical and behavioral standards to its employees through policy statements and codes of conduct, etc.2. Commitment to competence It is important that the management recruits competent staff who possess the required knowledge and skills at competent level to accomplish tasks.3. Participation by those charged with governance An entity’s control consciousness is influenced significantly by those charged with governance; therefore, their independence from management, experience and stature, extent of their involvement, as well as the appropriateness of their actions are extremely important.4. Management’s philosophy and operating style Management’s philosophy and operating style consists of a broad range of characteristics, such as management’s attitude to response to business risks, financial reporting, information processing, and accounting functions and personnel, etc. For example, does the targeted earning realistic? Does themanagement apply aggressive approach where alternative accounting principles or estimates are available? These management’s philosophy and operating style provide a picture to auditors about the management’s attitude about the internal control.5. Organisational structure The organisational structure provides the framework on how the entity’s activities are planned, implemented, controlled and reviewed.6. Assignment of authority and responsibility With the established organisational structure or framework, key areas of authority andreporting lines should then be defined. The assignment of authority and responsibility include the personnel that make appropriate policies and assign resources to staff to carry out the duties. Auditors may perceive the implementation of internal controls through the understanding of the organisational structure and the reporting relationships.7. Human resources policies and practices Human resources policies and practices generally refer to recruitment, orientation, training, evaluation, counselling, promotion, compensation and remedial actions. For example, an entity should establish policies to recruit individuals based on their educational background, previous work experience, and other relevant attributes. Next, classroom and on-the-job training should be provided to the newly recruited staff. Appropriate training is also available to existing staff to keep themselves updated. Performance evaluation should be conducted periodically to review the staff performance and provide comments and feedback to staff on how to improve themselves and further develop their potential and promote to the next level by accepting more responsibilities and, in turn, receiving competitive compensation and benefits.With the ISA 315 (Revised), external auditors are now required to make inquiries of the internal audit function to identify and assess risks of material misstatement. Auditors may refer to the management’s responses of the identified deficiencies of the internal controls and determine whether the management has taken appropriate actions to tackle the problems properly. Besides inquiries of the internal audit function, auditors may collect audit evidence of the control environment through observation on how the employees perform their duties, inspection of the documents, and analytical procedures. After obtaining the audit evidence of the control environment, auditors may then assess the risks of material misstatement.ENTITY’S RISK ASSESSMENT PROCESSAuditors should assess whether the entity has a process to identify the business risks relevant to financial reporting objectives, estimate the significance of them, assess the likelihood of the risks occurrence, and decide actions to address the risks. If auditors have identified such risks, then auditors should evaluate the reasons why the risk assessment process failed to identify the risks, determine whether there is significant deficiency in internal controls in identifying the risks, and discuss with the management.THE INFORMATION SYSTEM, INCLUDING THE RELEVANT BUSINESS PROCESSES, RELEVANT TO FINANCIAL REPORTING AND COMMUNICATIONAuditors should also obtain an understanding of the information system, including the related business processes, relevant to financial reporting, including the following areas:The classes of transactions in the entity’s operations that are significant to the financial statements. The procedures that transactions are initiated, recorded, processed, corrected as necessary, transferred to the general ledger and reported in the financial statements.How the information system captures events and conditions that are significant to the financial statements.The financial reporting process used to prepare the entity’s financial statements.Controls surrounding journal entries.Understand how the entity communicates financial reporting roles, responsibilities and significant matters to those charged with governance and external – regulatory authorities.CONTROL ACTIVITIES RELEVANT TO THE AUDITAuditors should obtain a sufficient understanding of control activities relevant to the audit in order to assess the risks of material misstatement at the assertion level, and to design further audit procedures to respond to those risks. Control activities, such as proper authorisation of transactions and activities, performance reviews, information processing, physical control over assets and records, and segregation of duties, are policies and procedures that address the risks to achieve the management directives are carried out.MONITORING OF CONTROLSIn addition, auditors should obtain an understanding of major types of activities that the entity uses to monitor internal controls relevant to financial reporting and how the entity initiates corrective actions to its controls. For instance, auditors should obtain an understanding of the sources and reliability of the information that the entity used in monitoring the activities. Sources of information include internal auditor report, and report from regulators.LIMITATIONS OF INTERNAL CONTROL SYSTEMSEffective internal control systems can only provide reasonable, not absolute, assurance to achieve the entity’s financial reporting objective due to the inherent limitations of internal control – for example, management override of internal controls. Therefore, auditors should identify and assess the risks of material misstatement at the financial statement level and assertion level for classes of transactions, account balances and disclosures.CONCLUSIONAs internal auditors have better understanding of the organisation and expertise in its risk and control, the proposed requirement for the external auditors to make enquiries of internal audit function in ISA 315 (Revised) will enhance the effectiveness and efficiency of audit engagements. External auditors should pay attention to the components of internal control mentioned above in order to make effective andefficient enquiries. An increase in the work of internal audit functions is also expected because of such proposed requirement.Raymond Wong, School of Accountancy, The Chinese University of Hong Kong, and Dr Helen Wong, Hong Kong Community College, Hong Kong Polytechnic UniversityReference ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment更多ACCA资讯请关注高顿ACCA官网：。
ACCA考试《审计与认证业务F8》知识点(4)
ACCA考试《审计与认证业务F8》知识点(4)本文由高顿ACCA整理发布，转载请注明出处ELEVANT TO CAT QUALIFICATION PAPER 8 AND ACCA QUALIFICATIONPAPERS F8 AND P7SPECIFIC ASPECTS OF AUDITING IN ACOMPUTER-BASED ENVIRONMENTInformation technology （IT）is integral to modern accounting and management information systems. It is, therefore, imperative that auditors should be fullyaware of the impact of IT on the audit of a client’s financial statements, both in the context of how it is used by a client to gather, process and report financial information in its financial statements, and how the auditor can use IT in theprocess of auditing the financial statements.The purpose of this article is to provide guidance on following aspects ofauditing in a computer-based accounting environment:? Application controls, comprising input, processing, output and masterfile controls established by an audit client, over its computer-basedaccounting system and? Computer-assisted audit techniques （CAATs）that may be employed byauditors to test and conclude on the integrity of a client’scomputer-based accounting system.Exam questions on each of the aspects identified above are often answered to an inadequate standard by a significant number of students – hence the reason for this article.Dealing with application controls and CAATs in turn:APPLICATION CONTROLSApplication controls are those controls （manual and computerised）that relate to the transaction and standing data pertaining to a computer-based accounting system. They are specific to a given application and their objectives are to ensure the completeness and accuracy of the accounting records andthe validity of entries made in those records. An effective computer-based system will ensure that there are adequate controls existing at the point of input, processing and output stages of the computer processing cycle and over standing data contained in master files. Application controls need to be ascertained, recorded and evaluated by the auditor as part of the process of determining the risk of material misstatement in the audit client’s financial statements.Input controlsControl activities designed to ensure that input is authorised, complete,accurate and timely are referred to as input controls. Dependent on the complexity of the application program in question, such controls will vary in terms of quantity and sophistication. Factors to be considered in determining these variables include cost considerations, and confidentiality requirements with regard to the data input. Input controls common to most effective application programs include on-screen prompt facilities （for example, are quest for an authorised user to ‘log-in’）and a facility to produce an audit 2SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED ENVIRONMENTJANUARY 2011trail allowing a user to trace a transaction from its origin to disposition in the system.Specific input validation checks may include:Format checksThese ensure that information is input in the correct form. For example, the requirement that the date of a sales invoice be input in numeric format only –not numeric and alphanumeric.Range checksThese ensure that information input is reasonable in line with expectations. For example, where an entity rarely, if ever, makes bulk-buy purchases with a value in excess of $50,000, a purchase invoice with an input value in excess of $50,000 is rejected for review and follow-up.Compatibility checksThese ensure that data input from two or more fields is compatible. For example, a sales invoice value should be compatible with the amount of sales tax charged on the invoice.Validity checksThese ensure that the data input is valid. For example, where an entity operates a job costing system – costs input to a previously completed job should be rejected as invalid.Exception checksThese ensure that an exception report is produced highlighting unusual situations that have arisen following the input of a specific item. For example, the carry forward of a negative value for inventory held.Sequence checksThese facilitate completeness of processing by ensuring that documents processed out of sequence are rejected. For example, where pre-numberedgoods received notes are issued to acknowledge the receipt of goods intophysical inventory, any input of notes out of sequence should be rejected.Control totalsThese also facilitate completeness of processing by ensure that pre-input,manually prepared control totals are compared to control totals input. For example, non-matching tota ls of a ‘batch’ of purchase invoices should result inan on-screen user prompt, or the production of an exception report forfollow-up. The use of control totals in this way are also commonly referred toas output controls （see below）。
2015年ACCA考试《审计与认证业务F8》知识点分析(3)
2015年ACCA考试《审计与认证业务F8》知识点分析（3）本文由高顿ACCA整理发布，转载请注明出处RELEVANT TO ACCA QUALIFICATION PAPER F8Subsequent eventsStudents of financial reporting and auditing papers will have to gain anunderstanding of how subsequent events (also known as ‘events after thereporting period’) affect the financial statements of an entity. This article willconsider the financial reporting aspects concerning subsequent events using acase study type scenario, and will then discuss the auditing requirements thatcandidates of Paper F8, Audit and Assurance need to be aware of.Financial reporting considerationsIn almost all circumstances, financial statements will not be finalised until aperiod of time has elapsed between the year-end date and the date on whichthe financial statements are (expected to be) issued. Therefore, regard has tobe given to events that occur between the reporting date and the date on which the financial statements are (expected to be) authorised for issue.IAS 10, Events After the Reporting Period stipulates the accounting anddisclosure requirements concerning transactions and events that occurbetween the reporting date and the (expected) date of approval of the financialstatements. Among other things, IAS 10 determines when an event that occursafter the reporting date will result in the financial statements being adjusted,or where such events merely require disclosure within the financial statements. Such events are referred to in IAS 10 as ‘adjusting’ or ‘non-adjusting’ events. Students who have studied Paper F3, Financial Accounting will have comeacross such terminology and it is imperative that they can differentiatebetween an adjusting and a non-adjusting event. IAS 10 prescribes thedefinitions of such events as follows:Adjusting eventAn event after the reporting period that provides further evidence of conditions that existed at the end of the reporting period, including an event that indicates that the going concern assumption in relation to the whole or part of the enterprise is not appropriate.1Non-adjusting eventAn event after the reporting period that is indicative of a condition that arose after the end of the reporting period.1Example 1You are the trainee accountant of Gabriella Enterprises Co and are preparingthe financial statements for the year-ended 30 September 2010. The financialstatements are expected to be approved in the Annual General Meeting, which 2SUBSEQUENT EVENTSAPRIL 2011is to be held on Monday 29 November 2010. Today’s date is 22 November 2010. You have been made aware of the following matters:1. On 14 October 2010, a material fraud was discovered by the bookkeeper. The payables ledger assistant had been diverting funds intoa fictitious supplier bank account, set up by the employee, which hadbeen occurring for the past six months. The employee was immediately dismissed, legal proceedings against the employee have been initiatedand the employee’s final wages have been withheld aspart-reimbursement back to the company.2. On 20 September 2010, a customer initiated legal proceedings againstthe company in relation to a breach of contract. On 29 September 2010,the company’s legal advisers informed the directors that it was unlikelythe company would be found liable; therefore no provision has beenmade in the financial statements, but disclosure as a contingent liabilityhas been made. On 29 October 2010, the court found the companyliable on a technicality and is now required to pay damages amountingto a material sum.3. On 19 November 2010, a customer ceased trading due to financialdifficulties owing $2,500. As the financial statements are needed for theboard meeting on 22 November 2010, you have decided that becausethe amount is immaterial, no adjustment is required. The auditors havealso confirmed that this amount is immaterial to the draft financialstatements.Required:(a) For each of the three events above, you are required to discuss whether the financial statements require amendment.Answer:When presented with such scenarios, it is important to be alert to the timing of the events in relation to the reporting date and to consider whether the events existed at the year-end, or not. If the conditions did exist at the year-end, the event will become an adjusting event. If the event occurred after the year-end, it will become a non-adjusting event and may simply require disclosure within the financial statements.更多ACCA资讯请关注高顿ACCA官网：。
ACCA必考知识点
关于ACCA知识点中，F8的必考部分。
分为理论部分和情景题部分两大块。
下面中公财经小编就给大家详细介绍一下关于F8的必考知识点;理论部分(1) 5 elements of internal control system内控体系的五大要素-control environment(控制环境)，control activities(控制行为)，risk assessment(风险评估)，control activities(控制的监督)与information system(信息系统)。
这五大要素需要会对其进行描述。
e.g.：Identify and briefly explain the FIVE components of an entity’s internal control. (5 marks)---2015年6月考题(2)limitations of Internal control systems内控体系的局限性(如：human errors in use of judgement, simple processing error, collusion between staff, control by-passed by management)(3) Methods for documenting internal control system记录内控体系的文档都有哪几种形式，以及各自的优缺点是什么-Narrative notes, flowchart, questionnaires (ICQ+ICEQ)Describe TWO methods for documenting the sales and despatch system; and for each explain an advantage and a disadvantage of using this method. (6 marks)---2013年12月份考题(4) Reasons for maintaining internal control system公司为什么需要建立及维护必要的内控体系(如：prevent misstatement in FS, safeguard assets, avoid breach laws and regulations, prevent fraud, increase working efficiency)情景题(1)Control Deficiency +Impact/Consequence +Recommendation or Identify and Explain Deficiency + Recommendation根据题目给出的情景，指出有什么控制缺陷，给公司造成的影响是什么，最后是给出解决问题的建议。
2015年ACCA考试《审计与认证业务F8》知识点分析(5)
2015年ACCA考试《审计与认证业务F8》知识点分析（5）本文由高顿ACCA整理发布，转载请注明出处SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASEDENVIRONMENTJANUARY 2011this facility may be utilised by the auditor when auditing salaries and wages inthe client’s financial statem ents. Similarly, a facility to report trade payable(creditor) long outstanding balances could be used by an auditor whenverifying the reported value of creditors.Test dataAudit test dataAudit test data is used to test the existence and effectiveness of controls builtinto an application program used by an audit client. As such, dummytransactions are processed through the client’s computerised system. Theresults of processing are then compared to the auditor’s expected results todetermine whether controls are operating efficiently and systems’objectiveness are being achieved. For example, two dummy bank paymenttransactions (one inside and one outside authorised parameters) may beprocessed with the expectation that only the transaction processed within theparameters is ‘accepted’ by the system. Clearly, if dummy transactions processed do not produce the expected results in output, the auditor will need to consider the need for increased substantive procedures in the area being reviewed.Integrated test facilitiesTo avoid the risk of corrupting a client’s account system, by processing test data with the client’s other ‘live’ data, auditors may instigate special ‘test data only’ processing runs for audit test data. The major disadvantage of this is that the auditor does not have total assurance that the test data is being processed in a similar fashion to the client’s live data. To address this issue, the auditor may therefore seek permission from the client to establish an integrated test facility within the accounting system. This entails the establishment of a dummy unit, for example, a dummy supplier account against which the auditor’s test data i s processed during normal processing runs.Other techniquesThis section contains useful background information to enhance your overall understanding.Other CAATs include:Embedded audit facilities (EAFs)This technique requires the auditor’s own program code to be embedded (incorporated) into the client’s application software, such that verification procedures can be carried out as required on data being processed. For example, tests of control may include the reperformance of specific input validation checks (see input controls above) – selected transactions may be‘tagged’ and followed through the system to ascertain whether stated controls and processes have been applied to those transactions by the computer system. The EAFs should ensure that the results of testing are recorded in a special secure file for subsequent review by the auditor, who should be able to conclude on the integrity of the processing controls generally, from the results of testing. A further EAF, often overlooked by students, is that of an analytical 6SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASEDENVIRONMENTJANUARY 2011review program enabling concurrent performance of analytical review procedures on client data as it is being processed through the automated system.Application program examinationWhen determining the extent to which they may rely on application controls, auditors need to consider the extent to which specified controls have been implemented correctly. For example, where system amendments have occurred during an accounting period, the auditor would need assurance as to the existence of necessary controls both before and after the amendment. The auditor may seek to obtain such assurance by using a software program to compare the controls in place prior to, and subsequent to, the amendment date.SummaryThe key objectives of an audit do not change irrespective of whether the audit engagement is carried out in a manual or a computer-based environment. The audit approach, planning considerations and techniques used to obtain sufficient appropriate audit evidence do of course change. Students are encouraged to read further to augment their knowledge of auditing in a computer-based environment and to practise their ability to answer exam questions on the topic by attempting questions set in previous ACCA exam papers.Brian Pine is examiner for CAT Paper 8更多ACCA资讯请关注高顿ACCA官网：。
2015年ACCA考试《审计与认证业务F8》知识点分析(1)
2015年ACCA考试《审计与认证业务F8》知识点分析（1）本文由高顿ACCA整理发布，转载请注明出处THE CONTROL ENVIRONMENT OF A COMPANYThe purpose of this article is to provide candidates with a more detailed appreciation of matters pertinent to an auditor, focusing on the need for the auditor of a large limited liability company (in the UK – a limited company) to evaluate the effectiveness of the company’s control environmentISA 315, Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Envi ronment, sets out the auditor’s responsibility to identify and assess the risks of material misstatement in the financial statements, through understanding the entity and its environment including the entity’s internal control. One of the five components of internal control is the control environment and it is recognised that the control environment within small entities is likely to differ from larger entities. Many candidates have not yet had the opportunity of working in larger entities, or have chosen not to, so have not been exposed to working within the type of strong control environment often referred to in auditing texts. Consequently, they often have limited experience on which to draw when answering exam questions that require anything other than superficial knowledge of an entity’s control environment.This article aims to provide common examples of matters the auditor needs to consider when assessing an entity’s control environment, and in making an assessment as to their impact on the risk of material misstatement in the financial statements. Reflecting the general trend of exam questions testing knowledge of this area, the article focuses on the need for the auditor of a large limited liability company (in the UK – a limited company) to evalu ate the effectiveness of the company’s control environment.A company’s control environment comprises seven elements each requiring careful consideration by the company’s auditor, recognising that some elements may be more pertinent than others – depending on the subject company. Each one of these elements is identified below, along with an explanation of specific practical aspects that may be considered by the auditor when evaluating its effectiveness. Candidates should be aware that this process forms part of the auditor’s assessment of the overall effectiveness of the company’s internal control, relevant to the audit.1 Communication and enforcement of integrity and ethical values Many companies have high values and seek to promote honesty and integrity among their employees on a day-to-day basis. Clearly, if it is evident that such values do exist and are communicated effectively to employees and enforced, this will have the effect of increasing confidence in the design, administration and monitoring of controls – leading to a reduced risk of material misstatement in a company’s financial statements. For example, where a company adopts comprehensive anti-bribery and corruption policies and procedures with regard to contract tendering, and has formal employee notification and checking practices in this regard, it follows that there is reduced risk of material misstatement due to the omission of provisions for fines forthe non-compliance with relevant laws and regulations. Alternatively, the existence in a company of comprehensive and ethical procedures with regard to the granting of credit facilities to customers and the pursuance of payment of for goods and services supplied, together with regular supervisory control in this respect, is likely to lead to increased audit confidence in the trade receivables area. This is because the existence of a system allowing goods and services to be a supplied on credit to customers provides the opportunity for fraud to be perpetrated against the company by employees and customers, particularly if controls are deficient in terms of their design or implementation.2 Commitment to competence Competence is the knowledge and skills necessary to accomplish tasks that define the individual’s job. It is self-evident that if individual employees are tasked with carrying out duties that are beyond their competence levels, then desired objectives are unlikely to be met. For example, there is an increased probability that the objective of avoiding material misstatement in a set of complex financial statements will not be met if prepared by an inexperienced company accountant. This is simply due to the inexperience (translating to a lower competence level) of the accountant. From this, it follows that the auditor will have increased confidence in internal control relevant to the audit, where management have taken measures to ensure employees who participate in internal control are competent to carry out relevant tasks effectively. Measures taken by management in this regard can cover a range of activity including for example, rigorous technical and aptitude testing at the employee recruitment stage and in-house or external training courses and mentoring from more senior colleagues3 Participation by those charged with governance The directors of a limitedliability/limited company are charged with the company’s governance. As such, they are responsible for overseeing the strategic direction of the company and its obligations relatedto its accountability – for example, to governments, shareholders and to society in general. In particular, in most jurisdictions the company’s directors are responsible for the preparation of its financial statements. Given the influence that the actions of directors have on a company’s inte rnal control, the extent of their day-to-day active involvement in the company’s operations has a pervasive effect on the internal control of the company.The extent to which directors do get involved will, to some extent, depend on legislation or codes of practice setting out guidance for best practice in given jurisdictions. For example, the UK Corporate Governance Code (with which companies listed on the London Stock Exchange should comply) sets out standards of good practice, including those pertaining to board leadership and effectiveness. Notwithstanding legislation and codes of practice, the extent of each director’s participation is largely influenced by the nature of their professional discipline and their individual perspective about how they should carry out their respective roles. Some may see themselves as micromanagers, while others will trust subordinates to carry out defined duties with minimal interference. Frequently, directors will be very experienced and adopt an arms-length approach to getting involved in operational tasks. However, they may insist on monitoring activity by way of receipt of formalnarrative reports. Other directors may adopt a more casual (but equally thorough!) ‘working alongside subordinates’ approach as a metho d of monitoring activities.All of the variables mentioned above with regard to director involvement, should be important considerations of an auditor as part of the process of ascertaining the extent of internal control in the company and in assessing its effectiveness.4 Management’s philosophy and operating style A company’s board of directors will comprise of individuals each with a different mind – set as to philosophy and operating style, manifested in characteristics such as their:approach to taking and managing business riskattitudes and actions toward financial reportingattitudes toward information processing and accounting and functions personnel.Each of the above characteristics underlie a company’s control environment and it is crucial for an auditor to have an understanding of them. Dealing with each in turn:Approach to taking and managing business risk. Business risk is the risk inherent in a company as a consequence of its day-to-day operations and it comprises several components. The first of these is financial risk – for example, the risk that the company may have insufficient cash flow to continue in operation. The second component is operational risk –for example, the risk that the company’s product lines ma y decline in popularity leading to a sharp decline in sales and profitability. The final component of business risk is compliance risk – for example, the risk that the company may be in breach of health and safety regulations, leading to the possibility of hefty fines or even the closedown of operational activity.Candidates should be aware that a risk-based approach to an audit requires the identification and assessment of inherent risk factors and then of the control risk pertaining to these, in order to determine the risk of material misstatement, prior to carrying out substantive procedures. By adopting a top-down approach to the audit and first identifying business risks, auditors should be able to identify the associated inherent risks arising. They can then progress through the audit using the audit risk model (audit risk = the risk of material misstatement x detection risk) to determine the amount of detailed testing required in each area of the financial statements. To illustrate this approach, referring to the compliance risk example above, an inherent risk arising from the risk of a breach of health and safety regulations. As a consequence, there is a risk that the company’s liabilities may be understated due to the omission of a provision required in the financial statements, in respect of a fine for a non-compliance.The directors’ approach to taking and managing business risk has obvious ramifications on a company’s financial statements, and the auditor should be aware of the various facto rs that influence directors in this area, and of applicable controls in place. It is often the case that a newly established company with young entrepreneurial directors and a flat management structure will have a more liberal approach to taking and managing business risk than a well-established company withmore experienced directors, and a steep hierarchical management structure. Consequently, it is likely that there would be a lower level of a risk of material misstatement in the financial statements of the latter company.Attitude and actions toward financial reporting. Financial Reporting Standards exist to help facilitate fairness, consistency and transparency of financial reporting. However, some determinants of profitability such as the measure of depreciation, the valuation of inventoryor the amount of a provision remain open to the subjective judgment of management. Consequently, the auditor needs to gain an understanding of directors’ attitudes and actions to financial reporting issues and then make a judgment as to the extent of reliance that can be placed upon these. It may be that a company that is struggling in a faltering economy, and in another driven by a culture to report increasing profits, there is a tendency to adopt aggressive (as opposed to conservative) accounting principles, in order to meet profit expectations. Clearly, on such audit engagements it is important for the auditor to remain resolute in exercising appropriate levels of professional sceptism throughout.Attitude towards information processing and accounting functions and personnel.Properly financed and resourced with sufficient numbers of appropriately qualified staff and contemporary information and communications technology, the financial reporting (accounting) and information processing functions of a company are vital to a company’s ongoing existence. They are key to the facilitation of compliance with laws and regulations, transactions with third parties, administration and control systems and in the provision of information for decision making. In most very large companies many aspects of the accounting function are inextricably intertwined with specific aspects of the company’s information processing systems, and there is an ongoing programme of investment in these, to ensure that the accounting and information processing systems are contemporary and fit for purpose. This is reflective of a situation where directors recognise that business risk will be significantly reduced, if the company has effective information processing and accounting functions. However, this situation does not apply to all companies. In some, both functions may be seen by the directors merely as necessary functional overhead areas of the business and, as such, they become under-funded and inadequately resourced in terms of staffing and equipment. An auditor engaged on an audit in such a company should be aware that there is an increased risk of material misstatement in the financial statements.5 Organisational structure ISA 315 des cribes a company’s organisational structure as being ‘the framework within which an entity’s activities for achieving its objectives are planned, executed, controlled and reviewed’. The appendix to the ISA then explains ‘that the appropriateness of an enti ty’s organisational structure depends, in part, on its size and the nature of its activities’. It follows from this that an international consulting company with offices and operations in several countries has different priorities in terms of organisational structure to a national car sales company with several offices and a number of sales branches in a single country. Similarly, the organisational structure deemed suitable for such a car sales company would not be appropriate for a single site manufacturing company. Generally, an auditor may reasonably expectthere to be a positive correlation between the level of inherent risk and the size and complexity of a company’s operations. In assessing, the level of the risk of material misstatement the audito r should consider as to whether the company’s organisational structure in terms of authority, responsibility and lines of reporting meet desired objectives.6 Assignment of authority and responsibility Normally, the larger a company’s scale of operations, then the larger the size of the workforce and, inevitably, the larger the amount of assignment of authority and responsibility that is required. Consequently, companies need to deal not only with ensuring that appropriate levels of authority and responsibility are assigned to appropriately qualified and experienced individuals. They also need to ensure that adequate reporting relationships and authorisation hierarchies are in place. Additionally, individuals need to be properly resourced and made fully aware of their responsibilities and of how their actions interrelate with the actions of others and contribute to the objectives of the company. If a company is not successful in meeting each of these needs, then there is an increased probability of ineffective decisions, errors and oversights by employees leading to an increased risk of material misstatement in its financial statements. For example, where a wages clerk is authorised to process the wages payroll and is then assigned the (inappropriate!) authority to enter new employee details into the wages master file.7 Human resources policies and practices As explained in ISA 315, ‘human resource policies and practices demonstrate important matters in relation to the control consciousness of an entit y’. This implies that if human resources policies and practices are considered to be sound both in design and in implementation over a range of matters, then the risk of material misstatement will be reduced.Examples of these matters include:Recruitment policies and procedures. These should ensure that only competent individuals with integrity are employed by the company. Interview procedures should ensure that only candidates meeting the company’s criteria for recruitment are engaged.There should be adequate induction procedures for new employees, such that they can carry out their assigned responsibilities effectively and efficiently soon after being engaged by the company.Employees should be provided with ongoing training, support and mentoring as appropriate, such that they can continue to carry out their assigned responsibilities effectively and efficiently.There should be regular formal appraisal, at least annually of an employee’s performance. Performance should be measured against standardised criteria authorised by senior management of the company, and there should be ongoing monitoring and feedback to employees about their performance and development needs.The company should employ comprehensive and transparent employment grievance procedures, such that employees can be confident that grievances will be dealt with openly and impartially.There should be open, transparent and equitable employee disciplinary procedures, such that employees can be confident they will not be treated unfairly by the company in the event that an action triggers its disciplinary process.Employment termination procedures should incorporate provision for an exit interview so that the reason for the termination can be confirmed or clarified, all emoluments due to the employee can be settled and arrangements can be made for the return of all company assets prior to the termination date.While each of the above measures will have a positive impact on the internal control of a company, to some extent they all have the effect of reducing the risk of material misstatement in the financial statements. For example, the existence of fair and robust grievance and disciplinary procedures reduce the possibility of a successful claim against the company for constructive or unfair dismissal, and the absence of a material provision in this respect. Significantly, the existence of human resources policies and practices that are the same or similar to those above should leave a favourable impression with the auditor, as to the directors’ attitude toward their company’s workforce. It is likely that such an attitude would foster good working relationships with employees, leading to an increased likelihood that individuals would reciprocate by carrying out their tasks diligently with integrity in the best interests of the company – resulting in a reduced risk of material misstatement.Summary As indicated at the beginning of this article, the purpose of it is to provide candidates with a more detailed appreciation of matters pertinent to an auditor, when evaluating the control environment of a limited liability/limited company. When asked toexplain what is meant by the term ‘control environment’, they typically comment that it is a component of a company’s internal control and that it centres around how a company is operated by its management, reflecting such matters as their philosophy and operating style. While there is some merit in this answer, having now read the above commentary, candidates should be aware that the term has much more meaning than that.Written by a member of the audit examining team更多ACCA资讯请关注高顿ACCA官网：。
acca f8知识要点汇总(下)
Part 12. Subsequent Event期后事项定义: Events after the reporting period: events, both favourable and unfavourable, that occurs between the end of the reporting period and the date when the financial statements are authorised for issue.区分调整非调整，主要看时间节点：事件发生在报告期后及财报正式公布前；是否对报告期内数值有影响？Adjusting events调整项目★背诵-定义Events which provide evidence of conditions which existed at the end of the reporting period. Non‐adjusting events 非调整事项★背诵-定义Events that relate to conditions which arose after the end of the reporting period✓Resolution of a court case未决诉讼✓Bankruptcy of a major customer主要客户破产 ✓Evidence of NRV of inventories库存的NRV测试 ✓Discovery of fraud or errors that show the financial statements were incorrect财报错误：舞弊和错误 ✓Destruction of major asset, e.g. by flood or fire自然灾害✓Major share transactions大宗股权交易✓Announcement of a plan to close part of a business关闭公司或部门，包括裁员Change the amounts in the financial statements 上述情况都会影响财报的正确性 Disclose non‐adjusting event in a note to the financial statements在财报的notes中披露即可●Auditor's responsiblityPeriod between the year‐end date and the date the auditor’s report is signed财年结束后，至审计报告签署前 The auditor shall perform audit procedures designed to obtain sufficient appropriate audit evidence that all events occurring between the date of the financial statements and the date of the auditor’s report that require adjustment of, or disclosure in, the financial statements have been identified.审计师有积极的责任执行审计程序，来辨别财报是否正确，该披露的是否披露？The auditor is not, however, expected to perform additional audit procedures on matters to which previously applied audit procedures have provided satisfactory conclusions.如果审计师对当年的财务报告已经比较满意了，那么不会再执行额外的审计程序（这句话比较难理解！）Period between the date the auditor’s report is signed and the date the financial statements are issued审计报告已签署，至财报公布前 The auditor has no obligation to perform any audit procedures regarding the financial statements after the date of the auditor’s report.签署审计报告后，审计师没有责任来主动发现问题。
《审计与认证业务(F8)》-课程教学大纲
《审计与认证业务（F8）》课程教学大纲一、课程基本信息课程代码：16086904课程名称：审计与认证业务（F8）英文名称：AUDIT AND ASSURANCE课程类别：专业课学时：64学分：4适用对象:ACCA考核方式：考试先修课程：Financial Accounting二、课程简介中文简介：课程目的是提高学生对审计实务的认知和理解，理解在国家治理现代化中，审计监督的重要意义，掌握审计监督更好服务于建设中国特色社会主义的理论和方法。
同时，让学生掌握实务知识的运用，让学生积累审计理论与实务经验，以便于学生毕业迅速地融入到实务工作中去。
教学大纲分为五个主要部分：（a）审计框架和规章这一部分解释了良好的公司治理在实体中的重要性。
还解释了监管框架，以及职业道德的关键领域。
（b）规划和风险评估计划和风险评估是外部审计的关键阶段，因为获得的信息和知识决定了审计方法。
（c）内部控制能够描述和评估信息系统和内部控制，以识别和交流控制风险及其潜在后果给实体管理层，并提出适当的建议以减轻这些风险。
（d）审计证据审计结论需要得到足够和适当的审计证据的支持。
了解审计证据的各种类型和来源的可靠性，并详细审查了具体项目的审计。
（e）审查和报告在外部审计结束时，审计员需要考虑持续经营的概念和随后可能对财务报表产生影响的事件。
我们也期待在书面陈述管理提供审计证据，并考虑对账户的任何纠正错误的影响。
英文简介The purpose of the F8 syllabus is to develop knowledge and understanding of the process of carrying out the assurance engagement and its application in the context ofthe professional regulatory framework. The syllabus is divided into five main sections.(a) Audit framework and regulationThe syllabus introduces the concept of assurance engagements, such as the external audit and the different levels of assurance that can be provided. You need to understand the purpose of an external audit and the respective roles of auditors and management. This part of the syllabus also explains the importance of good corporate governance within an entity. The regulatory framework is also explained, as well as the key area of professional ethics.(b) Planning and risk assessmentPlanning and risk assessment are key stages of the external audit because it is the information and knowledge gained at this time that determine the audit approach to take. We also develop further the concept of materiality which was introduced briefly in the first part of the syllabus.(c) Internal controlIn this part of the syllabus you need to be able to describe and evaluate information systems and internal controls to identify and communicate control risks and their potential consequences to the entity's management, making appropriate recommendations to mitigate those risks. We cover key areas of purchases, sales, payroll, inventory, cash and non-current assets.(d) Audit evidenceAudit conclusions need to be supported by sufficient and appropriate audit evidence. This area of the syllabus assesses the reliability of various types and sources of audit evidence and also examines in detail the audit of specific items (non-current assets, inventory, receivables, bank and cash and payables).(e) Review and reportingTowards the end of an external audit, the auditor needs to consider the concept of going concern and subsequent events which could impact on the financial statements. We also look at the audit evidence provided by written representations from management and consider the impact of any uncorrected misstatements on theaccounts.三、课程性质与教学目的F8 builds on the knowledge and understanding gained from Paper F3 Financial Accounting.You must possess good technical knowledge of audit and financial reporting but one of the key skills youwill need is to be able to apply your knowledge to the question.Section A of the exam will consist of multiple choice questions. These questions can cover any part of thesyllabus, so it is important to gain a precise knowledge of each of the syllabus areas.Section B of the exam will comprise four 10-mark written questions and two 20-mark questions. It isimportant to read the question requirements carefully and make sure that you answer the question set.Another important skill you will need is to be able to explain key ideas, techniques or approaches.Explaining means providing simple definitions and including the reasons why these approaches have been developed. Your explanations need to be clearly focused on the particular scenario in the question四、教学内容及要求第一章Chapter 1 Audit and other assurance engagements（一）目的与要求1.In the first section of this chapter we consider why there is a need for assurance in relation to financial and non-financial information. The main reason an assurance service such as an external audit is required is the fact that the ownership and management of a company are not necessarily one and the same.2.In Section 2 we introduce the concepts of agency, accountability and stewardship and consider reporting as a means of communication to the different stakeholders who are interested in the financial statements of the company. It is important to understand what other assurance services exist in addition to the external audit and these services are discussed3. in Section 3. The key assurance services which the F8 syllabus concentrates on are the external audit (statutory and non-statutory), review engagements and internal auditassignments. The effect of audits and reviews is that the stakeholders of an entity are given a level of assurance as to the quality of the information in the accounts. The degrees of assurance provided by external audits and other engagements are discussed 4.in Section 4.The remainder of the Study Text builds on the themes introduced in this chapter.（二）教学内容第一节Objective of external audit1．Statutory and non-statutory audits2．Statutory and non-statutory audits3．Advantages of the non-statutory audit第二节Accountability, stewardship and agency1．The nature and development of audit and other assurance engagements 2．Elements of an assurance engagement3. Objectives of an assurance engagement第三节Types of assurance services1 Other assurance engagements2.Types of review engagemen（三）思考与实践1 What level of assurance is provided by a review engagement?Answer: Negative assurance2 Which of the following assurance engagements provides the highest level of assurance?Answer: An external audit provides the higher level of assurance, since a positive opinion is used to provide reasonable assurance that the financial statements are not materially misstated. The negative assurance given in a review engagement is a lower level of assurance, since the practitioner only states that nothing has come to their attention that indicates that the financial information is materially misstated.3 What are the five elements of an assurance engagement?(a) A three party relationship. The three parties are the intended user, the responsible party and the practitioner.(b) A subject matter. This is the data to be evaluated that has been prepared by the responsible party. It can take many forms, including financial performance (eg historical financial information), nonfinancial performance (eg key performance indicators), processes (eg internal control) and behaviour (eg compliance with laws and regulations).(c) Suitable criteria. The subject matter is evaluated or measured against criteria in order to reach an opinion.(d) Evidence. Sufficient appropriate evidence needs to be gathered to support the required level of assurance.(e) An assurance report. A written report containing the practitioner's opinion is issued to the intended user, in the form appropriate to a reasonable assurance engagement or a limited assurance engagement.（四）教学方法与手段课堂讲授、多媒体教学第二章Statutory audit and regulation（一）目的与要求This chapter describes the aims and objectives of the statutory audit and theregulatory environment within which it takes place.The regulatory framework for auditors discussed in this chapter and theregulation of auditors by bodies such as the ACCA are very important.This chapter considers in detail the regulatory aspects of the appointment,removal and resignation of auditors.It ends with an examination of International Standards on Auditing whichauditors must comply with when carrying out an external audit.（二）教学内容第一节Objective of statutory audits and the audit opinion1 The statutory audit opinion2 Small company audit exemption3 Auditor rights and duties第二节Appointment, removal and resignation of auditors1 Appointment2.Remuneration3.Resignation and removal第三节Regulation of auditors1 National level2 EU member states3 International level（三）思考与实践1.What is the function of IFAC?Answer：The function of IFAC is to initiate, co-ordinate and guide efforts to achieve international technical, ethical and educational pronouncements for the accountancy profession.（四）教学方法与手段课堂讲授、多媒体教学第三章Corporate governance（一）目的与要求The concept of corporate governance was introduced in Chapter 1. In this chapter we will look at the codes of practice that have been put in place to ensure that companies are well managed and controlled. The UK Corporate Governance Code is an internationally recognised code which we will use as an example of a code of best practice. The audit carried out by the external auditors is a very important part of corporate governance, as it is an independent check on what the directors are reporting to the shareholders. Auditors of all kinds have most contact with the audit committee, a subcommittee of the board of directors. External auditors liaise with the audit committee over the audit, and internal auditors will report their findings about internal control effectiveness to it. We shall look at audit committees in Section 2 and internal control effectiveness in Section 3. We end this chapter with a consideration of the importance of auditors communicating with those charged with governance in an entity. ISA 260 Communication with those charged with governance provides guidance for auditors in this respect.（二）教学内容第一节Codes of corporate governance1.The importance of corporate governance2 OECD Principles of Corporate Governance3 The UK Corporate Governance Code第二节Audit committees1 Role and function of audit committees2 Relationship with the board3 Drawbacks of audit committees第三节Communication with those charged with governance1 Importance of internal control and risk management2 Directors' responsibilities for internal control3 Auditors' responsibilities for internal control（三）思考与实践Why are internal controls important in a company? International Standards on AuditingAnswer：Internal controls contribute to: Safeguarding company assetsPreventing and detecting fraudSafeguarding the shareholder's investment（四）教学方法与手段课堂讲授、多媒体教学第四章Professional ethics and quality control procedures（一）目的与要求we looked at some of the regulations surrounding the external audit. Here we look at the ethical requirements of the RSBs, specifically the ACCA's Code of ethics and conduct, which is based on the IESBA's Code of ethics for professional accountants. The ethical matters covered in this chapter are very important. They could arise in almost every type of exam question and you must be able to apply the ACCA's guidance on ethical matters to any given situation, but remember that common sense is usually a good guide. First we examine the five fundamental principles of professional ethics as defined in the ACCA's Code of ethics and conduct.We then look at the five main threats to compliance with these principles and the sorts of safeguards that can be put in place to mitigate these threats. Sections 2 and 3 of this chapter are concerned with obtaining audit.（二）教学内容第一节Fundamental principles of professional ethics1.The fundamental principles2.Obligatory disclosure3. V oluntary disclosure第二节Threats to independence and objectivity1 Self-interest2 Self-review threat3 Advocacy threat第三节Conflicts of interest1 Conflicts between members' and clients' interests2 Conflicts between the interests of different clients3.Enforcement mechanisms（三）思考与实践1.Match each ethical principle to the correct definition.(a) Integrity(b) Objectivity(c) Professional competence and due care(d) Confidentiality(e) Professional behavior(i) Not allow bias, conflicts of interest or undue influence of others to override professional or business judgements(ii) Have a continuing duty to maintain professional knowledge and skill at a level required to ensure that a client or employer receives competent professional service based on current developments in practice, legislation and techniques. Act diligently and in accordance with applicable technical and professional standards when providing professional services.(iii) Be straightforward and honest in all business and professional relationships. (iv) Comply with relevant laws and regulations and avoid any action that discredits the profession.(v) Respect the confidentiality of information acquired as a result of professional and business relationships and should not disclose any such information to third parties without proper or specific authority or unless there is a legal or professional right or duty to disclose. Confidential information acquired as a result of professional and business relationships should not be used for the personal advantage of members or third parties.Answer：(a) (iii)(b) (i)(c) (ii)(d) (v)(e) (iv)（四）教学方法与手段课堂讲授、多媒体教学第五章Internal audit（一）目的与要求Internal audit is a function established by management to assist in corporate governance by assessing internal controls and helping in risk management. It can be a department of employees or can be outsourced to expert service providers. Internal auditing is different from external auditing, although the techniques used by both are very similar. While the techniques used may be similar, the focus and reasons behind the audit are different.Various assurance assignments may be undertaken by internal auditors and these are outlined in Section 4. The role of internal audit with regard to fraud is also discussed briefly. The chapter ends with a consideration of outsourcing the internal audit function– this is very common in the real world and we discuss the potential benefits and drawbacks of doing so.（二）教学内容第一节Internal audit and corporate governance1 Introduction2 Internal audit and corporate governance3 Assessing the need for internal audit第二节Distinction between internal and external audit June 09, June 12, Specimen Exam1.egulation of internal auditors2. Limitations of the internal audit function3.Financial audits第三节Scope of the internal audit function1 Business risk2 The role of internal audit3 Responsibility for fraud and error第四节Scope of the internal audit function1 Value for money audits2 Information technology audits3Best value audits（三）思考与实践1Name three key differences between internal and external audit.Answer：(1) External auditors report to members, internal auditors report to directors.(2) External auditors report on financial statements, internal auditors report on systems, controls and risks.(3) External auditors are independent of the company, internal auditors are often employed by it.（四）教学方法与手段课堂讲授、多媒体教学第六章Risk assessment（一）目的与要求This chapter covers the aspects of the external audit which will be considered atthe earliest stages, during planning.Firstly we introduce the concept of risk and look in detail at audit risk and its components (control risk, inherent risk and detection risk) and at how audit risk is managed by the auditor. The distinction between audit risk and business risk is also made. We discuss the concept of materiality for the financial statements as a whole and performance materiality and the methods used for calculating them. It is important to understand that the calculation of materiality is a matter of judgement and that materiality must be reviewed during the course of the audit and revised if necessary. The importance of understanding the entity being audited and its environment is a key aspect of audit planning and helps the auditor to identify potential risk areas to focus on. Various techniques can be used here, such as enquiry, analytical procedures, observation and inspection. The risk assessment stage allows the auditor to respond with a proposed audit approach which may be controls based or totally substantive. The auditor also needs to consider the risks of fraud and non-compliance with laws and regulations in the audit and this is examined towards the end of this chapter. This chapter covers the aspects of the external audit which will be considered at the earliest stages, during planning. Firstly we introduce the concept of risk and look in detail at audit risk and its components (control risk, inherent risk and detection risk) and at how audit risk is managed by the auditor. The distinction between audit risk and business risk is also made. We discuss the concept of materiality for the financial statements as a whole and performance materiality and the methods used for calculating them. It is important to understand that the calculation of materiality is a matter of judgement and that materiality must be reviewed during the course of the audit and revised if necessary. The importance of understanding the entity being audited and its environment is a key aspect of audit planning and helps the auditor to identify potential risk areas to focus on. Various techniques can be used here, such as enquiry, analytical procedures, observation and inspection. The risk assessment stage allows the auditor to respond with a proposed audit approach which may be controls based or totally substantive. The auditor also needs to consider the risks of fraud and non-compliance with laws and regulations inthe audit and this is examined towards the end of this chapter.（二）教学内容第一节Introduction to risk1 The overall objectives of the auditor2 Professional scepticism, professional judgement and ethical requirements3 Audit risks第二节Determining and calculating materiality and performance materiality when planning the audit1. Professional scepticism, professional judgement and ethical requirements2. Revision of materiality3 Documentation of materiality第三节Assessing the need for internal audit1.Why do we need an understanding?2 What do we need an understanding of?3 How do we gain an understanding?第四节Assessing the risks of material misstatement1 Identifying and assessing the risks of material misstatement2Significant risks3.Responding to the risk assessment（四）思考与实践1.Which procedures might an auditor use in gaining an understanding of the entityANSWER: Enquiry, analytical procedures, observation and inspection（四）教学方法与手段课堂讲授、多媒体教学第七章Audit planning and documentation（一）目的与要求In this chapter, we introduce the fundamental auditing concept of audit evidence. Audit evidence is required to enable the auditor to form an opinion on the financial statements. Therefore such evidence has to be sufficient and appropriate. We alsoexplain the financial statement assertions for which audit evidence is required. These will be particularly important when we consider detailed testing later in this Study Text, since audit tests are designed to obtain sufficient appropriate evidence about the assertions for each balance or transaction in.（二）教学内容第一节Audit planning1. The importance of planning2 The overall audit strategy and the audit plan3.The audit strategy第二节Audit documentation1 The objective of audit documentation2 Form and content of working papers3 Standardised and automated working papers（三）思考与实践1What is the general rule for audit documentation?2 State two advantages of standardised working papers.Answer：1.What would be necessary to provide an experienced auditor, with no previous connection to the audit,with an understanding of the nature, timing and extent of the audit procedures performed, the results ofaudit procedures, audit evidence obtained, significant matters arising during the audit and conclusions reached.2Advantages of standardised working papers(1) Facilitate the delegation of work(2) Means of quality control（四）教学方法与手段课堂讲授、多媒体教学第八章Introduction to audit evidence（一）目的与要求In this chapter, we introduce the fundamental auditing concept of audit evidence. Audit evidence is required to enable the auditor to form an opinion on the financialstatements. Therefore such evidence has to be sufficient and appropriate.We also explain the financial statement assertions for which audit evidence is required. These will be particularly important when we consider detailed testing later in this Study Text, since audit tests are designed to obtain sufficient appropriate evidence about the assertions for each balance or transaction in the financial statements.（二）教学内容第一节Audit evidence1. The need for audit evidence2 Sufficient appropriate audit evidence3.Management's expert第二节Financial statement assertionsrmation produced by the entity2. Selecting items to test3.Inconsistencies and doubts over reliability（三）思考与实践1.Define sufficiency and appropriateness as they relate to audit evidence.2 State the financial statement assertions.3 State five procedures which auditors can use to obtain audit evidence.4 Explain what 'reperformance' is.Answer：1.Sufficiency is the measure of the quantity of audit evidence.Appropriateness is the measure of the quality/reliability of audit evidence.2.Existence, rights and obligations, occurrence, completeness, valuation, accuracy, classification and understandability, cut-off, allocation.3.Any five from:InspectionObservationEnquiryConfirmationRecalculationReperformanceAnalytical procedures4. Reperformance is the auditor's independent execution of procedures or controls that were originally performed as part of the entity's internal control.（四）教学方法与手段课堂讲授、多媒体教学第九章Internal control（一）目的与要求In this chapter, we introduce the internal control concept. The auditor generally seeks to rely on the internal controls within the entity in order to reduce the amount of testing of final balances.The auditor will assess the risks of material misstatement arising and may respond to those risks by carrying out tests of controls. If he concludes that he can rely on the controls in place, the level of substantive audit testing required can be reduced.We also look at the ways in which auditors can document the internal control systems using narrative notes, flowcharts, questionnaires and checklists, focusing particularly on the use of questionnaires.We shall examine the detailed controls that businesses operate and the tests that the auditors may carry out in specific areas.（二）教学内容第一节Internal control systems1. Control environment2 Entity's risk assessment process3. Information system relevant to financial reporting4. Control activities5. Monitoring of controls6. Small companies – the problem of control7. Limitations of accounting and control systems第二节The use of internal control systems by auditors1. Recording accounting and control systems第三节The evaluation of internal control components1.Confirming understanding2. Tests of control3. Revision of risk assessment, audit strategy and audit plan4. Communication of deficiencies in internal control第四节Internal controls in a computerised environment1. General controls2. Application controls（三）思考与实践1. Explain why an auditor needs to obtain an understanding of internal control relevant to the audit2 Describe and explain the five components of an internal control systemAnswer：1. Internal control is the process designed and effected by those charged with governance, management, and other personnel to provide reasonable assurance about the achievement of the entity's objectives with regard to reliability of financial reporting, effectiveness and efficiency of operations and compliance with applicable laws and regulations.Having determined which controls are relevant, and are adequately designed to aid in the prevention of material misstatements in the financial statements, the auditor can then decide whether it is more efficient to seek reliance on those controls and perform tests of controls in that area, or more efficient to perform substantive testing over that area.If the controls are not adequately designed, the auditor needs to perform sufficient substantive testing over that financial statement area in light of the apparent lack of control and increased risk. Any deficiencies are noted and, where appropriate, these will be communicated to management2. Internal control has five components:The control environment；The entity's risk assessment process；The informationsystem relevant to financial reporting；Control activities；Monitoring of controls In obtaining an understanding of internal control, the auditor must understand the design of the internal control and the implementation of that control. In the following sub-sections, we look at each of the elements of internal control in turn.（四）教学方法与手段课堂讲授、多媒体教学第十章Tests of controls（一）目的与要求In this chapter we will lookat how tests of controls might be applied in practice. We will examine each major component of a typical accounting system.We have already stated that the auditors must establish what the accounting system and the system of internal control consist of. The auditors will then decide which controls, if any, they wish to rely on and plan tests of controls to obtain the audit evidence as to whether such reliance can be warranted. For each of the major transaction systems we will look at the system objectives the auditors will bear in mind while assessing the internal controls and give examples of common controls. We shall then go on to look at a 'standard' programme of tests of controls.（二）教学内容第一节The sales system1. Sales system: Control objectives, controls and tests of controls第二节The purchases system1. Control objectives, controls and tests of controls第三节The inventory system1. Introduction2. Control objectives, controls and tests of controls第四节The bank and cash system第五节The payroll system1. Control objectives, controls and tests of controls第六节Revenue and capital expenditure1. Controls and tests of controls2. Tests of controls and substantive testing（三）思考与实践1. Explain, analyse and provide examples of internal control procedures andcontrol activities2 Give an example of a control which helps to ensure the completeness of non-current assets. Suggest how the auditor can test that the control is operating effectively.Answer：1. The tests of controls in the sales system will be based around:Selling (authorisation)Goods outwards (custody)Accounting (recording)The tests of controls in the purchases system will be based around:– Buying (authorisation)– Goods inwards (custody)– Accounting (recording)Inventory controls are designed to ensure safe custody. Such controls include restriction of access, documentation and authorisation of movements, regular independent inventory counting and review of inventory condition.2. You could have come up with a number of controls that help ensure completeness of non-current assets, but a common one is the regular reconciliation of the non-current asset register with the general ledger to ensure all items on the register have been recorded. The test of this control would be to obtain a copy of the reconciliation and ensure all discrepancies are followed up and resolved on a timely basis.（四）教学方法与手段课堂讲授、多媒体教学第十一章Audit procedures and sampling（一）目的与要求In this chapter we look at various audit procedures and the use of audit sampling. First we consider substantive testing which encompasses tests of detail and the use of analytical procedures as substantive tests. These methods form the basis for the next five chapters which examine the detailed testing for various financial statement account areas such as cash and inventory.We also examine the audit of accounting estimates. We have mentioned in previous chapters that judgement has to be used in accounting for some of the figures in the accounts. Examples of accounting estimates include depreciation and provisions.We will look in detail at audit sampling, which is an important aspect of the audit. We consider different types of audit sampling and the evaluation of errors.Computer-assisted audit techniques (CAATs) are an important tool in the audit and we examine the two main types of CAATs, audit software and test data.Finally in this chapter we will look at how the auditor can make use of the work of others as a source of audit evidence. We consider the use of auditor's experts, the work of internal audit and the use of service organisations in this regard.We shall examine the detailed controls that businesses operate and the tests that the auditors may carry out in specific areas.（二）教学内容第一节Substantive procedures1. Types of audit tests2 Directional testing3. Analytical procedures第二节Accounting estimates1.The nature of accounting estimates2. Risk assessment procedures3. Risk identification and assessment4. Responding to the assessed risks。
2015年ACCA F8审计与认证业务考试大纲
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ACCA 2014 All rights reserved.Audit and Assurance （F8）December 2014 to June2015This syllabus and study guide is designed to helpThis syllabus and study guide is designed to helpwith planning study and to provide detailedinformation on what could be assessed inany examination session.THE STRUCTURE OF THE SYLLABUS ANDSTUDY GUIDERelational diagram of paper with other papersThis diagram shows direct and indirect linksbetween this paper and other papers preceding orfollowing it. Some papers are directly underpinnedby other papers such as Advanced Performance Management by Performance Management. These links are shown as solid line arrows. Other papers only have indirect relationships with each other such as links existing between the accounting and auditing papers. The links between these are shown as dotted line arrows. This diagram indicates where you are expected to have underpinning knowledge and where it would be useful to review previous learning before undertaking study.Overall aim of the syllabusThis explains briefly the overall objective of the paper and indicates in the broadest sense the capabilities to be developed within the paper.Main capabilitiesThis paper’s aim is broken down into several main capabilities which divide the syllabus and study guide into discrete sections.Relational diagram of the main capabilitiesThis diagram illustrates the flows and links between the main capabilities （sections）of the syllabus and should be used as an aid to planning teaching and learning in a structured way.Syllabus rationaleThis is a narrative explaining how the syllabus is structured and how the main capabilities are linked. The rationale also explains in further detail what the examination intends to assess and why.Detailed syllabusThis shows the breakdown of the main capabilities （sections）of the syllabus into subject areas. This is the blueprint for the detailed study guide.Approach to examining the syllabusThis section briefly explains the structure of the examination and how it is assessed.Study GuideThis is the main document that students, learningand content providers should use as the basis oftheir studies, instruction and materials. Examinations will be based on the detail of the study guide which comprehensively identifies what could be assessed in any examination session.The study guide is a precise reflection and breakdown of the syllabus. It is divided into sections based on the main capabilities identified in the syllabus. These sections are divided into subject areas which relate to the sub-capabilities includedin the detailed syllabus. Subject areas are broken down into sub-headings which describe the detailed outcomes that could be assessed in examinations. These outcomes are described using verbs indicating what exams may require students to demonstrate, and the broad intellectual level at which these may need to be demonstrated（*see intellectual levels below）。