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Topics / Chapters 37
Qualification ACCA
Teacher Subhan Mirchawala

Our Trainer

Subhan Mirchawala

Subhan Mirchawala With a teaching experience of more than 20 years, Subhan Mirchawala is not only a faculty of ACCA but also a Corporate Trainer for different Multinational corporations. Having taught more than 50,000 students he remains the top pick for the students in his respective papers. His 8 students secured Worldwide & Pakistan level positions.

F8/AA-Audit and Assurance

Course Outline

Agency & stewardship relationship, definition of Audit, explanation of assurance engagement, what’s true & fair view in Financial statements

Limitations of Audit, Statutory and voluntary audit, audit & audit related services with positive and negative assurance

Rights, Duties, appointment & Removal of Auditor, FORENSIC AUDIT

Role Of IFAC, what's IAASB, how ISAs are published

Advertising of services, audit fee, client and engagement screening, engagement letter

Professional Ethics and Expectation Gap

Relationship between independence and objectivity.. plus the introduction of threats to Auditor independence

5 Threats to Auditor independence along with safeguards

Audit work papers

IAS 10 + ISA 560 subsequents events

Written management representation plus management letter

Auditor’s Responsibilities regarding GOING CONCERN

Using the Work of an Expert by Auditor

Concept of Service organization, including user entity, User & Service Auditor

Internal Auditing

Audit planning, Audit Strategy & Audit Plan

Understanding of the entity and it’s environment.. assessing risk and response plus significant risk

AUDIT MATERIALITY

Auditor’s Responsibilities regarding FRAUD

Financial Statement Assertions and Internal Control Systems

Situations / Examples of control weaknesses, implications and solutions recommendations

Introduction to Audit Procedures, Test of Controls & Substantive Procedures

Controls & Test of Control situations, sales & purchase cycle

Control objectives, Controls & Test of Controls situations with examples of Cash, Inventory & Payroll

Analytical Procedures

Substantive Audit Procedures

Audit Procedures

More Audit procedures.. Rent, Electricity, Payroll expense

Accounting Estimates & Directional testing

CAATs (Computerized Assisted Audit Techniques) Audit software and Test Data

Overall review of Financial Statement before signing Audit report + Non Compliance

Documenting Systems & Controls.. Narrative form, Flow Chart, Questionnaires ( ICQs & ICEQs ) Check list

Corporate Governance

Case Studies (TRY YOURSELF FIRST then watch solution meeting)

Online Class / Demo Lecture

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