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Audit Risk – ACCA Audit and Assurance (AA)

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  3. Please include a lecture video for Planning as well, i cant find it, thank you, and wonderful lecture, although bit incomplete but gives a good understanding…

  7. Dear Sir,
    please can you tell me where can i find part b of the f8 syllabus among these lectures as it is difficult to find and compare the chapters with bbp book of f8. I need ch-6 risk assessment, ch-7 audit planning and documentation & ch-8 introduction to audit. In this lecture of risk i didnt see materialty,understanding the entity and its environment, fraud , law and regulations so where can i find these.

    Best regards,
    Raza Haider.

    • I have spent just few minutes as a registered member here but it appears I have the same challenge. These lectures seem to cover a slightly different syllabus from the BPP text book.

  13. Thank you. Very well explained. But couldn’t get Sampling risk clear. !!!! Also notes here are enough to pass exams. Or should have to buy text book

    • Notes + QUESTION PRACTICE are enough.

      Sampling risk. Let’s say that in a population of 10,000 invoices, 5,000 have been properly dealt with and 5,000 have not.

      If you choose a sample of, say, 20 items there is a chance that you pick only those that have been properly treated. This might lead you to conclude that all invoices have been correctly treated. You would have concluded incorrectly and that is a result of ‘bad luck’ with sampling. Unless you look at the whole population there is always the risk of wrong conclusions: that is sampling risk.

      Sampling risk is reduced by increasing the sample size. So, if you choose 50 items to look at there is a greater chance that you will pick up some wrong ones and this should lead you to look at even more to see the extent of the aberrations.

      • Understood!!! Very well explained. Again thanks you very much for the support and prompt response.

  15. When looking at chapter 6 in BPP, there are a lot more then what you explain in this lecture.
    For example :
    Materiality, Understanding entity and its environment , Responding to the risk assessment, Law and regulations.
    Are these in some other online lectures, or you didn鈥檛 explein them at all (or are they possible out of study text..I have book for exam 2014-2015.)?

    Thanks in advance,

    • The lectures are what I would deliver to a class and with question practice are sufficient to pass.

      Lectures are always less detailed than text books, but many people pass yet never open their text books.

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