F8 Audit and Assurance
June 2010 Important Topics

Just because a subject was examined in December 2009 does not mean that it will not be revisited in June. Ensure you regularly visit the ACCA student website for any articles written by the examiner, e.g. her recent article on her examination approach. Reading this article and Pami’s examiner’s reports makes it clear that her examination questions will be practical and a purely theoretical study approach is unlikely to bring success.
Exam “Tips”

• Ethics, audit engagement and engagement letter
• Risk – business, financial statement or audit
• Materiality
• Working papers
• Confirmations (in general, receivables, payables, bank)
• Wages
• Going concern, representation letter, emphasis of matter, audit report
• CAATs (can appear/be applied in most questions)
• Outsourcing, service providers
• Use of an expert
• Audit committees

By Keith Rye