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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOL
(&*$ **F VJ
Audit and Assurance
Paper F8 (Global)
Course Notes
ACF8CN07
10/13/2026,
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
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(&*$ **F VJ
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(&*$ **F VJyvhjbnoP+_IREOL
(&*$ **F VJ
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOL
(&*$ **F VJ
F8 Audit and Assurance (Global)
Study Programme
Page
Introduction to the paper and the course ........................................................................... (ii)
1 The concept of audit and other assurance engagements ......................................... 1.1
2 Statutory audits ........................................................................................................ 2.1
3 The regulatory environment and corporate governance ........................................... 3.1
4 Professional ethics and ACCA's Code of Ethics and Conduct.................................. 4.1
5 Internal audit ............................................................................................................. 5.1
6 Risk assessment ....................................................................................................... 6.1
End of Day 1 – refer to Course Companion for Home Study U
Progress test 1 U
7 Audit planning and documentation .................. 7.1
8 Introduction to audit evidence........................... 8.1
9 Internal control .................................................. 9.1
10 Tests of controls ............................................... 10.1
11 Audit procedures and sampling ........................ 11.1
End of Day 2 – refer to Course Companion for Home Study U
Progress test 2 U
Course exam 1 U
12 Receivables ...................................................... 12.1
13 Inventory........................................................... 13.1
14 Liabilities and capital ....................................... 14.1
15 Bank and cash.................................................. 15.1
16 Non-current assets ........................................... 16.1
17 Not–for-profit organisations .............................. 17.1
18 Audit review and finalisation ............................. 18.1
19 Reports ............................................................. 19.1
End of Day 3 – refer to Course Companion for Home Study U
Progress test 3 U
Course exam 2 U
20 Answers to Lecture Examples ................................................................................................................... 20.1
21 Question and Answer bank .................................................................................................................. 21.1
22 Appendix: Pilot Paper questions (UK and International) ......................................................................... 22.1
Don’t forget to plan your revision phase!
•
•
Revision of syllabus BPP provides revision courses, question days,
Testing of knowledge mock days and specific material to assist you in
•
•
Question practice this important phase of your studies.
Exam technique practice
(i)
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(&*$ **F VJ
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOL
(&*$ **F VJ
INTRODUCTION
Introduction to Paper F8 Audit
and Assurance
Overall aim of the syllabus
To develop knowledge and understanding of the process of carrying out the assurance engagement and its
application in the context of the professional regulatory framework.
The syllabus
The broad syllabus headings are:
A Audit framework and regulation
B Internal audit
C Planning and risk assessment
D Internal control
E Audit evidence
F Review
G Reporting
Main capabilities
On successful completion of this paper, candidates should be able to:
• Explain the nature, purpose and scope of assurance engagements including the role of the external audit
and its regulatory and ethical framework.
• Explain the nature of internal audit and describe its role as part of overall performance management and
its relationship with the external audit
• Demonstrate how the auditor obtains an understanding of the entity and its environment, assesses the
risk of material misstatement (whether arising from fraud or other irregularities) and plans an audit of
financial statements
• Describe and evaluate information systems and internal controls to identify and communicate control risks
and their potential consequences, making appropriate recommendations
• Identify and describe the work and evidence required to meet the objectives of audit engagements and
the application of the International Standards on Auditing
• Evaluate findings and modify the audit plan as necessary
• Explain how the conclusions from audit work are reflected in different types of audit report, explain the
elements of each type of report
Links with other papers
The Professional Accountant Advanced Audit and Assurance
(P1) (P7)
Corporate and Financial Reporting Audit & Assurance
Business Law (F4) (F7) (F8)
This diagram shows where direct (solid line arrows) and indirect (dashed line arrows) links exist between this
paper and other papers that may precede or follow it.
(ii)
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOLKDJ(
(&*$ **F VJ
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOL
(&*$ **F VJ
Audit and Assurance
Paper F8 (Global)
Course Notes
ACF8CN07
10/13/2026,
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(
(&*$ **F VJ
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOL
(&*$ **F VJ
F8 Audit and Assurance (Global)
Study Programme
Page
Introduction to the paper and the course ........................................................................... (ii)
1 The concept of audit and other assurance engagements ......................................... 1.1
2 Statutory audits ........................................................................................................ 2.1
3 The regulatory environment and corporate governance ........................................... 3.1
4 Professional ethics and ACCA's Code of Ethics and Conduct.................................. 4.1
5 Internal audit ............................................................................................................. 5.1
6 Risk assessment ....................................................................................................... 6.1
End of Day 1 – refer to Course Companion for Home Study U
Progress test 1 U
7 Audit planning and documentation .................. 7.1
8 Introduction to audit evidence........................... 8.1
9 Internal control .................................................. 9.1
10 Tests of controls ............................................... 10.1
11 Audit procedures and sampling ........................ 11.1
End of Day 2 – refer to Course Companion for Home Study U
Progress test 2 U
Course exam 1 U
12 Receivables ...................................................... 12.1
13 Inventory........................................................... 13.1
14 Liabilities and capital ....................................... 14.1
15 Bank and cash.................................................. 15.1
16 Non-current assets ........................................... 16.1
17 Not–for-profit organisations .............................. 17.1
18 Audit review and finalisation ............................. 18.1
19 Reports ............................................................. 19.1
End of Day 3 – refer to Course Companion for Home Study U
Progress test 3 U
Course exam 2 U
20 Answers to Lecture Examples ................................................................................................................... 20.1
21 Question and Answer bank .................................................................................................................. 21.1
22 Appendix: Pilot Paper questions (UK and International) ......................................................................... 22.1
Don’t forget to plan your revision phase!
•
•
Revision of syllabus BPP provides revision courses, question days,
Testing of knowledge mock days and specific material to assist you in
•
•
Question practice this important phase of your studies.
Exam technique practice
(i)
10/13/2026,
20221108074642_636a096258f1a_audit___assurance__word(*((&#*!(*#*($$(*($(*$Y(&*&$(*)&*)((&$*^$&*&$
Page
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOLKDJ(
(&*$ **F VJ
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1:58:15 AM20221108074642_636a096258f1a_audit___assurance__word(*((&#*!(*#*($$(*($(*$Y(&*&$(*)&*)((&$*^$&*&$
(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOL
(&*$ **F VJ
INTRODUCTION
Introduction to Paper F8 Audit
and Assurance
Overall aim of the syllabus
To develop knowledge and understanding of the process of carrying out the assurance engagement and its
application in the context of the professional regulatory framework.
The syllabus
The broad syllabus headings are:
A Audit framework and regulation
B Internal audit
C Planning and risk assessment
D Internal control
E Audit evidence
F Review
G Reporting
Main capabilities
On successful completion of this paper, candidates should be able to:
• Explain the nature, purpose and scope of assurance engagements including the role of the external audit
and its regulatory and ethical framework.
• Explain the nature of internal audit and describe its role as part of overall performance management and
its relationship with the external audit
• Demonstrate how the auditor obtains an understanding of the entity and its environment, assesses the
risk of material misstatement (whether arising from fraud or other irregularities) and plans an audit of
financial statements
• Describe and evaluate information systems and internal controls to identify and communicate control risks
and their potential consequences, making appropriate recommendations
• Identify and describe the work and evidence required to meet the objectives of audit engagements and
the application of the International Standards on Auditing
• Evaluate findings and modify the audit plan as necessary
• Explain how the conclusions from audit work are reflected in different types of audit report, explain the
elements of each type of report
Links with other papers
The Professional Accountant Advanced Audit and Assurance
(P1) (P7)
Corporate and Financial Reporting Audit & Assurance
Business Law (F4) (F7) (F8)
This diagram shows where direct (solid line arrows) and indirect (dashed line arrows) links exist between this
paper and other papers that may precede or follow it.
(ii)
10/13/2026,
20221108074642_636a096258f1a_audit___assurance__word(*((&#*!(*#*($$(*($(*$Y(&*&$(*)&*)((&$*^$&*&$
Page
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(&*$ **F VJyvhjbnoP+_IREOLKDJ(UWRORWUOI
(&*$ **F VJyvhjbnoP+_IREOLKDJ(
(&*$ **F VJ
