F8 quick revision study session
Corse outline
CHAPTER 1:
CHAPTER 2:
CHAPTER 3:
CHAPTER 4:
CHAPTER 5:
CHAPTER 6:
CHAPTER 7:
CHAPTER 8:
CHAPTER 9:
CHAPTER 10:
ASSURANCE
AUDIT ETHICS AND REGULATIONS
PLANNING
AUDIT EVIDENCE
SYSTEMS ASSESSMENT
AUDIT SAMPLING
INTERNAL CONTROLS
SUBSTANTIVE TESTING
COMPUTER AUDITING
THE AUDIT REPORT
For every chapter we will have session of two hours, on which first a
quick go through then past papers practice questions regarding that
chapter. If we feel that two hours is not enough for any chapter then
we will have an extra session for that chapter to make sure our
preparation.
The first session will be held today at 5pm UK time
For other sessions timings and days! We will decide it in today’s
session.
Today’s objective is to complete following areas,
WHAT IS ASSURANCE?
THE FIVE ELEMENTS OF AN ASSURANCE ENGAGEMENT
POSITIVE AND NEGATIVE ASSURANCE
THE EXTERNAL (STATUTORY) AUDIT OF ANNUAL PUBLISHED FINANCIAL STATEMENTS
INTERNAL AUDIT
THE IMPORTANCE OF INDEPENDENCE IN ASSURANCE
THE EXTERNAL AUDIT PROCESS
THE EXTERNAL AUDIT TIMELINE
INTERIM AUDIT
YEAR END
FINAL AUDIT
REASONABLE ASSURANCE, TRUE AND FAIR VIEW, MATERIALITY