Professional Documents
Culture Documents
Assurance
Syllabus
A
Internal control
Audit Evidence
F8 Exam
Question Type
Knowledge
Practical
15
20
60
35
65
12 MCQ =20
marks
6LQ
=80
marks (4*10,
2*20)
Knowledge:
Core Area:
Internal Audit
Corporate governance
Substantive procedures/test of
controls
Internal Controls
Audit risk + Response
Ethics
Audit report
Examiners comments
Differentiating between test of controls and substantive
procedures
Starting the procedure by using the word check
Vague explanation of procedures
Too many or too few
Position/Balance
Occurrence
Existence
Accuracy
Completeness
Completeness
Cut-off
Classification
Presentation & Disclose
Understandabi
lity
Tests of Control
Substantive procedures
Confirmation (External):obtained as a
direct written response to the auditor from
a third party (the confirming party) in paper
form, electronic medium or other medium.
Analytical Procedure
NO
F8-2015-June-Q
8
Which of the following is a substantive audit procedure for wages and salaries?
Attempt to access and make changes to the payroll master file using the log on for a junior
clerk
(1 mark)
6 (a)
(i)
Identify and explain FOUR financial statement assertions relevant to classes of transactions and
events
for the year under audit; and
(ii)
For each identified assertion, describe a substantive procedure relevant to the audit of REVENUE.
(8 marks)