- This topic has 9 replies, 3 voices, and was last updated 7 years ago by
.
- Posts
Please help me with tips on which study method should I adapt to pass the F8 exam easily because currently am not working and i have never worked before or has any experience in the Audit environment.
In particular, you need to understand the audit process, the concepts of risk, audit evidence, internal control and the various types of audit report.
Our notes and lectures are arranged logically and simply. Those, combined with our short chapter tests and a revision kit from a major publisher, should enable you to pass.
In the exam, how do you tell that a material uncertainty is pervasive when assessing the impact on the audit report?
It is a matter of judgement. If the problem is pervasive then you are really saying the problem is so large/global/comprehensive/fundamental that the FS are not worth the paper they are written on: nothing useful can be salvaged by shareholders either because of the adverse opinion or disclaimer of opinion.
Qualified opinions are given if possible because the problem is isolated (except for) so tehe reminder of the FS are still of some use.
If you are testing purchases for correct cutoff, in what direction would you test the transactions?
For instance, do you test from the invoices to purhases ledger OR purchases ledger back to invoice?Both. For most transactions it is important to test in both directions.
Eg Purchase invoices to payables ledger: completeness
Payable ledger to purchase invoices: existencePlease start queries unrelated to a thread to a new thread. It is more helpful to other users.
Are assertions of presentation and disclosure likely to be examinable after the changes to ISA 315?
How about ”Classification and Understandability”…Is it likely to come up in the exam?
- The topic ‘General’ is closed to new replies.