Audit and Assurance (International) – F8 Important Topics for Dec-2013 (Muhammad Naeem Nawaz) Main topics Threat to independence and Appropriate safeguards (100% chances) Payroll cycle and Substantive procedures on wages (Examiner Article is key here). Audit risk and its components Audit sampling and auditor responsibility regarding fraud Substantive procedures on Receivables (Receivable circularization) and Provision Going concern and Impact on the auditor report (Again Examiner article is key here) Benefit of audit committee MUST READ: ***Past Papers from Dec-2007 to Dec 2011(9 Attempts)... along with examiners’ answers ***Read each important topic given in guess from (the relevant questions in the) past papers. *** Read Examiner article specially the latest one (Going concern, Payroll , Sampling) SOLVING EXAM PAPER: **Please read each exam Question for the number of tasks (action words) in it; e.g. Explain and Distinguish are two different tasks carrying separate mark scheme Please try to attempt all questions, starting each question on a new page, preferably the right side page, even if you have to leave a page blank. Do not write beyond the allotted time. Get to the point immediately and do not write for which no marks have been allocated. Do not write bullets, instead use short comprehensible plain complete English sentences. Approx 80% of the Examination Paper would be from the above selected topics. Insha’Allah! You should therefore get fully prepared for these during your revisions.
Posted on: Sun, 17 Nov 2013 14:20:55 +0000
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