審計學(xué)英文教學(xué)課件：Chapter 0 introduction

1、1書名:審計學(xué)一種整合方法(第14版) 作者: 阿爾文A阿倫斯 (Alvin A.Arens)出版社: 中國人民大學(xué)出版社1Topic listPAPER FORMAT & INDICATIVE QUESTIONSFACTORS CONTRIBUTING TO DISAPPOINTING PASS RATE CATEGORIES OF EXAM SCRIPTSTOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERSMETHODS OF STUDING F8NECESSARY STEPS OF PRACTISING PAST PAPER QUESTIO

2、NS 21. PAPER FORMAT & INDICATIVE QUESTIONS 34New format of the exam from Dec 14 Section A: 8 multiple choice questions 2 marks = 16 marks4 multiple choice questions 1 marks = 4 marks Subtotal 20 marksSection B:4 shorter case questions 10 marks = 40 marks 2 longer scenario questions 20 marks = 40 mar

3、ks Subtotal 80 marksTotal 100 marksQ. # Marks Type of Qs Area Indicative Question/Explanation130Significant Scenario Revenue cycle (Sales/Debtors) Expenditure cycle (Purchases/Creditors/Inventory) Payroll cycle (Payroll/Wages/Accrued) May involve manual/computer testing Typically include key audit a

4、reas Typically based on audit procedures (compliance and/or substantive) 210Short Questions None in particular Short factual questions Greater syllabus coverage Not expecting rote learning of ISAs This is not an open book exam, but principles Use of requirement verbs 320Smaller Scenario Risk and Aud

5、it Approach Threats to independence ISA 300 ISA 315 420Smaller Scenario More Specialized Audit Area Internal Audit (IA) NPO Audit Sampling (AS) Audit Working Papers CAATs Ethics 520Smaller Scenario Review & Reporting Going Concern (GC) Subsequent Events (SE) Written Representations (WR) Reporting5Ol

6、d Format2. FACTORS CONTRIBUTING TO DISAPPOINTING PASS RATE 67F8 Pass ratesJune 2015 452. FACTORS CONTRIBUTING TO DISAPPOINTING PASS RATE Attempt questions in random order Lack of understanding of the meaning of requirement verbs such as “l(fā)ist” 8Requirement verbs and mark allocationRequirement verbs

7、mark allocationKnowledge-based questions (with no supporting scenario found in Q2 and shorter sub-questions )List/identify mark per point madeExplain Normally mark for the point and mark for the explanation of the relevance of the point9Requirement verbs and mark allocationRequirement verbs mark all

8、ocationApplication-based questions (within the context of a scenario)List 1 mark per point made because that point must be specific to the scenario and can be more difficult to make, compared to a “l(fā)ist” requirement with no scenarioExplain Normally mark for identifying an appropriate point and mark

9、for showing the relevance of that point to a scenarioRecommendNormally 1 mark per point because providing a valid recommendation is more difficult than simply listing or explaining pointsDiscussUp to 2 marks per point depending on the quality of the discussionStateNormally 1 mark per point as in the

10、 context of a “l(fā)ist” used with a scenario102. FACTORS CONTRIBUTING TO DISAPPOINTING PASS RATE Clear failure to carefully read the content and requirements of questionsLack of clear labeling to indicate which questions are being attempted Many scripts were also presented quite inadequately, with leng

11、thy paragraphs of writing “hiding” many individual relevant points Lack of knowledge of controls testing Illegible handwriting 1112133. CATEGORIES OF EXAM SCRIPTS BAD FAIL SCRIPTS 50% Are usually well presented, and make appropriate use of paragraphs, sentences and table formats. Question 1 is norma

12、lly attempted first, candidates having used the 15 - minutes reading and planning time at the beginning of the answer to plan question 1.clearly having very good knowledge of auditing, and are able to apply that knowledge to the questionAre usually fully completed all five questions are attempted ev

13、en though some sections may not be answered that well. 163. CATEGORIES OF EXAM SCRIPTS 4. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS 171/10 Which option is the correct response to the following statement? Explain the purpose of a management representation letter. 184. TOP TEN MOST COMMON MIS

14、TAKES IN AUDIT EXAM ANSWERS Option A A management representation letter is addressed to the directors of a company, and is written by the auditors of that company at a time towards the end of the audit. The letter contains information on weaknesses in the companys control systems, identified by the

15、auditor, examples of errors that could occur because of each weakness, and recommendations on how to mitigate those weaknesses. 19Option B A management representation letter is addressed to the auditors of a company, and is written by the directors of that company at a time towards the end of an aud

16、it. The letter contains information from management concerning matters that the auditor may not have been able to obtain sufficient evidence on from other sources, such as estimates for provisions, as well as confirming managements responsibilities for the financial statements. 202/10 Which of the f

17、ollowing audit procedures will help to confirm the going concern status of an entity? 214. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS Option A Obtain, cast, and review cash flow forecasts prepared by management to ensure that the company has sufficient cash to continue trading. Option B Perf

18、orm cut-off testing on sales and purchases to ensure sales and purchases have been correctly recorded in the correct accounting period. 223/10State whether the following are tests of control or substantive procedures in a wages system: 234. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS Obtain a

19、 sample of clock cards and ensure they are signed by the shift foreman. Obtain sample of clock cards and agree hours worked to hours shown on the wages calculation sheets in the accounts office. 24Test of ControlSubstantive Procedure4/10 Which of the following audit procedures can be performed using

20、 test data on a wages system? 254. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS Option A For a fictitious employee, enter details of hours worked and rate of pay to confirm that gross wages are correctly calculated. Option B Extract the data on gross wages from the client computer; perform a m

21、onth-by-month analysis on the auditors computer to identify any unusual trends. 265/10 Audit work on inventory has been completed. The directors refuse to make an adequate provision for obsolete stock. Which of the following is a suitable action for the auditor to take? 274. TOP TEN MOST COMMON MIST

22、AKES IN AUDIT EXAM ANSWERS Option A Obtain additional audit evidence from purchase invoices on the net realisable value of the disputed stock. Option B Obtain a management representation point confirming managements decision on the provision. 286/10 State which of the following assertions is not rel

23、evant to account balances at the period end: valuation and allocation cut-off completeness 294. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS 7/10 A scenario states that an engagement partner holds some shares in an audit client, with the question requirement asking you to identify and explain

24、the ethical issues and provide a resolution to each issue. Identify the weakness in the following answer extract: The audit partner must transfer the shares to his son (who is 15-years-old).304. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS 8/10 State the weaknesses in the following audit proce

25、dure in a sales system: Check the invoice agrees to the ledger.314. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS 9/10 Independence is a fundamental ethical principle of ACCA. True or false? 324. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS 10/10 Which option provides a suitable response

26、to the requirement: List the contents of an engagement letter? 334. TOP TEN MOST COMMON MISTAKES IN AUDIT EXAM ANSWERS 34Option A An explanation of how the audit fee is determined. Option B The letter explains how the fee for the audit is calculated. This is included to show the client that fees reflect the experience of the audit staff assigned to the audit, as well as the time taken on the audit by each grade of staff. 3435355. METHODS OF STUDING F8365.