ATC f8 materials for jun08 session study system F8AA(Int)SOverview d08

AUDIT AND ASSURANCE (F8) – STUDY OVERVIEW

Stage of study

INTRODUCTORY
(Note: All topics to be covered
before taking
Monitoring Test 1)

Study
System
Sessions

Syllabus coverage

1

Audit and other assurance engagements

2

Regulatory environment – statutory audit

3

Regulatory environment – corporate
governance

4

Professional codes of ethics and conduct

5

Auditor appointment

7

Audit planning

8

Business risk and internal control

9

Understanding the entity, audit risk and
engagement risk

12 – 13
Appx 1, 2
&5

Internal controls and assessing control
effectiveness (incl CIS) plus Appendix 1
(Documentation techniques) Appendix 2
(Transaction cycles) & Appendix 5 (Data
sources and records)

15
24 & 26

Audit evidence – ISA 500
Trade receivables and Trade payables

30

Auditor’s reports

33

Internal audit

MONITORING TEST 1 (1½ hours)

INTERMEDIATE 1

6

Documentation

10

Materiality

11

Fraud & Error, Laws & Regulations

14

Service organisations

16 – 21

General techniques of audit testing

22 – 26
Appx 3

Auditing balances plus Appendix 3 (Audit
programmes)

28 – 31

Finalisation, going concern and audit reports

33

Internal audit

34

Considering the work of internal audit

MONITORING TEST 2 (1½ hours)

1


AUDIT AND ASSURANCE (F8) – STUDY OVERVIEW

Stage of study

INTERMEDIATE 2

Study
System
Sessions

Syllabus coverage

27

Small businesses

32

Review assignments
Revision of previous studies in preparation for
the Revision Phase and student accountant
articles by the examiner as noted below.

REVISION

Qs will be set on all topics likely to be
examined. Any topics which have featured
recently in student accountant will be covered.

MOCK EXAM(s)

(3 hours)

Examiner’s Report
Ensure you read the June 2008 Examiner’s Report before commencing the revision course.

Relevant Student Accountant articles (as at 01 August 2008)
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Auditing fundamentals – April 2008
Examiner’s approach to Paper F8 – February 2007
Audit and review examination technique – November 2006
Auditing manual and computerised systems – May 2006
Examiner’s approach to Paper 2.6 – January 2005 (relates to old syllabus but contains
useful tips)
The regulatory environment – January 2005 (relates to old syllabus but contains useful tips)

All of these articles are CRITICAL reading as they are by the examiner, Alan Lewin,
explaining his approach to the examination and what he expects from students. Ignore at
your peril!!! www.accaglobal.com/students

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2

Audit working papers – February 2007
Examining evidence – December 2006
Audit risk in a brave new world – September 2004
Confirmations as audit evidence – October 2003
Electronic technology and the auditor – June 2003
Service organisations – March 2003
Internal audit and review reports – January 2003
Divide opinion – November 2003
Corporate governance in the 21st century – September 2002
The independence of accountants – June 2002
The role of internal audit in risk management – March 2002
Directional testing – May 2001
Cash audits – November 2000
Outsourcing internal audit – October 2000
Analytical procedures – January 2000
Audit sampling – May 1999