SupplementaryStudyNotes

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: subsequent events review, post balance sheet events, adjusting events, non-adjusting events, POST SOFP/Balance Sheet Events/Audit Procedures, Before issuing the audit report, After issuing the audit report, Provisions & Contingencies, liability, legal obligation, constructive obligation, contigent liability, Provisions & Contingencies – Accounting Treatment, Provisions & Contingencies – Audit Pr...

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: auditing testing types (system-based, risk-based), Audit Testing – Compliance, Audit Testing – Substantive, Audit Testing – General Approach, Audit Testing – Corporate Governance, Audit Testing – Techniques, Audit Testing – Compliance Testing ISA 400, Audit Testing – Compliance Testing Categories, Audit Testing – Compliance Testing – No Audit Trail, Audit Testing – Compliance Tes...

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: what is ethics, definition of ethics, prescribed ethical principles, Professional Code of Ethics, Threats to Independence, advertising, audit fees, safeguards, confidentiality, Professional rules relating to independence.

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: Definition of an external audit, True & Fair View, fair representation, external auditing, statutory external audit, non-statutory audits, assurance engagement, review engagement, external audit vs review engagement, levels of assurance, assurance engagement process, purpose of auditing, main audit objectives, secondary audit objectives, management's responsibilities, limitations of an audit, chron...

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: Audit of the statement of financial position, Final work – problem areas, compliance testing, substantive testing, Relationship between Statement of Financial Position & Income Statement, Use of specialists ISA 620, Main areas where specialists are required, use of experts, Audit of the Statement of Financial Position – Non-Current Assets, Non-Current Assets – Internal Controls, Non-Current As...

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: Audit Evidence ISA 500, audit evidence: sufficiency, appropriateness, Auditors’ Judgement, Nature of accounting/internal control systems, reliability of audit evidence, audit generated, entity's records, original documentation, oral representations, procedures that auditors applies on audit evidence (A.E.I.O.U), financial statement assertions, assertion example.

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: Audit Risk, audit risk components, Inherent Risk – Entity Level, Inherent Risk – Account Balance, control risk, detection risk, Audit Risk – Formulae, indicators of low risk, general indicators of high risk, Substantive Procedures, materiality, Materiality – ISA 320(2) – Materiality in the context of the preparation of the financial statements, testing materiality, Testing (planning) mater...

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: coursework guidance on completing the coursework for the module, auditor's liability, Auditor’s liability – statutory duties CA 2006 s.498 & 499, Caparo Industries PLC vs Dickman & Others (1989) – Proximity, Royal Bank of Scotland vs Bannerman Johnson Maclay & Others, Criminal Liability, limiting liability, The Audit Appointment Process, resignation of auditors, removal of auditors, Auditor ...

Audit & Assurance is a module for students studying Accounting and Finance. This document covers: audit regulation, Three sets of regulatory guidance, Example of national laws & guidance, how is an auditor regulated, IFAC, structure of IFAC, ISAs & IAPS, IAASB Pronouncements, Corporate Governance Code UK, Internal controls and risk management, audit committee, NEDs (Non-Executive Directors), audit committee objectives, audit committee functions, audit committee benefits.

This document contains a summary of what has been discussed in the webinar Practical Audit Quality Considerations – Performing the Audit in the Pandemic Environment. There is a link to the video on the first page. The key points have been summarised so that you don't have to watch the whole video yourself and make notes of the important points. This webinar video was used to complete a piece of coursework for the module Audit & Assurance where students were required to produce a written report...