How are most people feeling about F8 tomorrow?
AAF8 Audit & Assurance - June 2014 - General Feelings
Not as much well prepared as F7 but in a good feeling.
Just need to keep calm and apply the knowledge.
Yourself?
Think I have learnt enough to pass but you never know!
F8 EXAM FOCUSED
1. Identify and explain Wages system weaknesses and recommendations to control them.
2. Going Concern and procedures on forecasted cash flow.
3. Identify and explain Audit Risk and response of Auditor.
4. Substantive procedures on receivables and revenue OR payables and purchase.
5. Internal v/s External Audit, advantages and disadvantages of outsourcing Internal Audit.
6. Explanation of Sampling methods.
7. Auditor responsibility for Fraud.
8. Importance of understanding the Entity/ Audit Plan.
9. Status of ISA.
10. Difference of Positive and Negative Assurance.
11. Elements of Control System.
12. Benefits of Audit Committee.
13. Elements of Engagement Letter.
14. Audit procedures for Accounting Estimates.
15. Interim v/s Final Audit.
16. Contents and benefits of Audit documents.
17. Confidentiality and its Exceptions.
F8 (INT) EXAM FOCUSED
1. Identify and explain Wages system weaknesses and recommendations to control them.
2. Going Concern and procedures on forecasted cash flow.
3. Identify and explain Audit Risk and response of Auditor.
4. Substantive procedures on receivables and revenue OR payables and purchase.
5. Internal v/s External Audit, advantages and disadvantages of outsourcing Internal Audit.
6. Explanation of Sampling methods.
7. Auditor responsibility for Fraud.
8. Importance of understanding the Entity/ Audit Plan.
9. Status of ISA.
10. Difference of Positive and Negative Assurance.
11. Elements of Control System.
12. Benefits of Audit Committee.
13. Elements of Engagement Letter.
14. Audit procedures for Accounting Estimates.
15. Interim v/s Final Audit.
16. Contents and benefits of Audit documents.
17. Confidentiality and its Exceptions.