FTC Exam Tips for F8 Audit and Assurance June 2008
Tips include:
Identify and explain / address risks in a scenario
Substantive tests on debtors/receivables, stock/inventory
Weaknesses in internal controls and recommendations (sales, payroll)
Types of assurance assignments
Completion – overall review
Confidentiality and conflicts of interest
Role of internal audit, reliance by external auditors
NOTE: These exam tips should only be used in conjunction with proper studying. We cannot guarantee that these tips will appear in the actual exam as we have not seen the exam papers.