审计与认证业务F8(英文,刘学华)
ACCA考试《审计与认证业务F8》知识辅导5
ACCA考试《审计与认证业务F8》知识辅导5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 process, 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, size an d 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 comp onents 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 eth ical 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 atti tude 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“名挂”F8审计,拿下也是分分钟的事
ACCA“名挂”F8审计,拿下也是分分钟的事在ACCA 圈里，据说F8《审计与认证业务》是出了名的fail 科目，应届毕业生网小编咋没听说过这回事儿(挖鼻)。
一定会有人说小编站着说话不腰疼，然而小编看到的事实是有不少学员总是被“所谓的传言”所吓倒，还没挑战就先缴械投降岂是ACCA 英雄作为?
当还算顺利地通过ACCA 前六门考试的时候，我不得不面临一个抉择——接下来要不要报考所谓的“名挂”审计，之前听学姐说过，也在网上看到过好多关于审计有多难的帖子，犹豫了好久，但最终还是选择报考审计、财管、财务报告三门课程。
刚开始学习的时候心里很没底，担心自己报的太多不仅审计过不了，可能还会拖累其他科目，但后来学习了一段时间，我发觉审计并没有大家所说的那么难，一个学期的努力加上一点运气终于换来了审计考试81 分的成绩。
这次考试让我懂得“相信自己、勇于挑战”才有可能取得成功。
获取信息
对于大多数自学的ACCA 学员来说，如何获取考试的相关信息至关重要。
只有及时了解考试的最新动向，才能把握重点，有的放矢地准备考试。
我一般会定期上ACCA 的官方的网站查看信息，另外部落上也有ACCA 论坛，在论坛里可以了解到考试的多方面信息。
在主动搜寻信息之外，每个学员都会定期收到ACCA 的官方邮件，通知报名截止日期、成绩公布等信息，而且学员每月都会收到官方杂志，上面的内容十分全面，我通常会重点研究与考试相关的信息。
学习方法
历年真题是关键。
虽然ACCA 考题重复出现的可能性比较小，但真题体现出的侧重点、各部分的比例，在主考官不变的情况下大都会。
ACCA考试《审计与认证业务F8》知识点(2)
ACCA考试《审计与认证业务F8》知识点(2)本文由高顿ACCA整理发布，转载请注明出处RELEVANT TO ACCA QUALIFICATION PAPER F8 ANDPERFORMANCE OBJECTIVES 17 AND 18Audit riskCandidates studying Paper F8, Audit and Assurance, are required under thesyllabus to: ‘Explain the com ponents of audit risk and explain the risks ofmaterial misstatement in the financial statements’。
This element of the syllabus has been examined in the last three sessions ofPaper F8 – in June 2010, December 2010 and June 2011. However, theperformance of candidates has on the whole been unsatisfactory. This articleaims to identify the most common mistakes made by candidates as well asclarifying how audit risk questions should be tackled in order to maximisemarks.An example question requirement relating to audit risks is as follows:Describe the audit risks and explain the auditor’s response to each risk in planning the audit of XYZ Co.Previously examined risk questions have carried a mark allocation of 10 marks.However, a significant majority of candidates have not passed this part of thequestion. Common mistakes made include:? providing definitions of the audit risk model, even though this was not part of the question requirement? a lack of understanding of what audit risk is and providing business risks instead? not providing an adequate response to the risk. This needs to be fromthe perspective of the auditor and not from management’s perspective? a limited range of risks identified, often just focusing on one area suchas going concern.Audit risk definitionsAudit risk is defined as ‘the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. Audit risk is a function of the risks of material misstatement and detection risk’。
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）。
ACCA F8 知识点总结
ACCA考试《审计与认证业务F8》知识点总结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 process, 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, size 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 relevantinternal controls, evaluate the design of the controls, and ascertain whether the controls are implemented and maintained properly.The major components of internal cont rol 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 sta ndards 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 the management 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 a ctivities 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 assessmentprocess 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 ent ity’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 entityinitiates 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 ItsEnvironment。
《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。
ACCA考试《审计与认证业务F8》知识辅导8
ACCA考试《审计与认证业务F8》知识辅导8本文由高顿ACCA整理发布，转载请注明出处RELEVANT TO ACCA QUALIFICATION PAPERS F8 AND P72011 ACCAClarity auditing standardsTo enhance the application of auditing standards in exam questions,candidates must familiarise themselves with the clarity auditing standards.The International Auditing and Assurance Standards Board （IAASB）hascompleted its comprehensive project to enhance the clarity of all of itsInternational Standards on Auditing （ISAs）in 2009 for improvingunderstandability of auditing standards, and all the new clarity auditingstandards are now examinable. This also affects the Hong Kong Standards on Auditing （HKSAs）。
The full set of clarity auditing standards features 39 documents, which include: ? a new International/Hong Kong Standard on Auditing on communicatingdeficiencies in internal control – ISA/HKSA 265 （Clarified），Communicating Deficiencies in Internal Control to those Charged with Governance andManagement? 35 clarity ISAs/HKSAs? a clarified international/Hong Kong standard on quality control – ISQC 1/ HKSQC 1, Quality Controls for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements ? a revised glossary of terms? a revised preface to the International/Hong Kong Standards on Quality Control, Auditing, Review, Other Assurance and Related Services.ISA/HKSA 265 （Clarified），Communicating Deficiencies in InternalControl to those Charged with Governance and ManagementAmong the clarified auditing standards, ISA/HKSA 265 （Clarified）is a completely new standard.It deals with the auditor’s responsibility to communicate appropriately to those charged with governance and management deficiencies in internal control that the auditor has identified in an audit of financial statements.When auditors plan for an audit, they are required to perform risk assessment through understanding internal controls, and also test for the appropriateness of design of internal controls and whether they are implemented. When control reliance strategy is adopted, auditors are required to perform tests of controls to gather audit evidence on the operating effectiveness of controls.During both processes, auditors might identify deficiencies in internal controls.In accordance with ISA/HKSA 265 （Clarified），‘deficiency’ exists when ‘a control is designed, implemented or operated in such a way that it is unable to prevent, or detect and correct, misstatements in financial statements on atimely basis; or a control necessary to prevent, or detect and correct misstatements in the financial statements on a timely basis is missing’。
2015年ACCA F8审计与认证业务考试大纲
2015年ACCA F8审计与认证业务考试大纲本文由高顿ACCA整理发布，转载请注明出处2015年ACCA考试大纲发布，根据简章获悉，2015年ACCA F8审计与认证业务考试大纲出现了哪些小变化？针对这些变化，高顿网校小编为您进行详细解读分析。
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）。
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Syllabus for undergraduate of OUC
Course name：Audit and Assurance F8
Course time：autumn
Course teacher：Liu Xuehua
1.Course Overview
The Audit and Assurance syllabus is essentially divided into five areas. The syllabus starts with the nature, purpose and scope of assurance engagements both internal and external, including the statutory audit, its regulatory environment, and introduces governance and professional ethics relating to audit and assurance. It then leads into planning and risk assessment audit. The syllabus then covers a range of areas relating to an audit of financial statements including the scope of internal control. These include, evaluating internal controls, audit evidence, and a review of the financial statements. In addition to final review procedures, the final section concentrates on reporting, including the form and content of the statutory audit report.
2.prerequisite
Financial Reporting F7 learned.
3.Books To Purchase
Latest BPP learning material：Audit and Assurance F8
4.Student Learning Outcomes
The specific capabilities within the detailed syllabuses and study guides are assessed at one of three intellectual or cognitive levels:
Level 1: Knowledge and comprehension
Level 2: Application and analysis
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Level 3: Synthesis and evaluation
Very broadly, these intellectual levels relate to the three cognitive levels at which the Knowledge module, the Skills module and the Professional level are assessed.
Each subject area in the detailed study guide included in this document is given a 1, 2, or3 superscript, denoting intellectual level, marked at the end of each relevant line. This gives an indication of the intellectual depth at which an area could be assessed within the examination. However, while level 1 broadly equates with the Knowledge module, level 2 equates to the Skills module and level 3 to the Professional level, some lower level skills can continue to be assessed as the student progresses through each module and level. This reflects that at each stage of study there will be a requirement to broaden, as well as deepen capabilities. It is also possible that occasionally some higher level capabilities may be assessed at lower levels. 5.Course Expectations
On successful completion of this course, students should be able to:
A. Explain the concept of audit and assurance and the functions of audit, corporate governance, including ethics and professional conduct, describing the scope and distinguishing between the functions of internal and external audit.
B. Demonstrate how the auditor obtains and accepts audit engagements obtains an understanding of the entity and its environment, assesses the risk of material misstatement (whether arising from fraud or other irregularities) and plans an audit of financial statements
C. Identify and describe the work and evidence obtained by the auditor and others required to meet the objectives of audit engagements and the application of the ISAs
D. Explain how consideration of subsequent events and the going concern principle can inform the conclusions from audit work and are reflected in different types of audit report,
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written representations and the final review and report.
6.Assignments
Relevant exam questions in previous years.
7.Grading Policy
30% of class presentation, appearance, and answering the questions 70% of final examination
8.Course Calendar
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