Acca F8

ACCA QuAlifiCAtion

Course notes

Paper

F8

Audit And AssurAnce

(InTERnATIOnAl)

December 2012 examinations

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F1 Accountant in Business / FAB Foundations in Accountancy

F2 Management Accounting / FMA Foundations in Accountancy

F3 Financial Accounting / FFA Foundations in Accountancy

F4 Corporate & Business Law (English & Global)

F5 Performance Management

F6 Taxation (UK)

F7 Financial Reporting

F8 Audit and Assurance

F9 Financial Management

P1 Governance, Risk & Ethics

P2 Corporate Reporting

P3 Business Analysis

P4 Advanced Financial Management

P5 Advanced Performance Management

P6 Advanced Taxation (UK)

P7 Advanced Audit & Assurance

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Paper F8

December 2012 Examinations

Paper F8

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Contents

Syllabus

i

1

What is assurance?

1

2

Corporate governance

5

3

Auditors’ rights, appointment, removal and resignation

9

4

Professional ethics

11

5

The audit report

15

6

Types of audit report: modified/unmodified

21

7

The stages of an audit

27

8

The appointment process

31

9

Risk

33

10

The audit process and audit evidence

37

11

Internal control

43

12

Some accounting systems

49

13

Computer systems

51

14

Computer assisted audit techniques

53

15

The...