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Decks in this class (47)
Assurance
What is assurance engagement 1,
Acronym for the key elements of a...,
R 3
8
cards
Levels of assurance
What are the 2 types of assurance...,
Whats a statutory audit and whats...,
Audit exemption 3
7
cards
Legal and professional requirements for Auditors
Companies act 2006 rules 1,
What do rsb do and how to become ...,
Factors making someone ineligible...
11
cards
benefits and limitations of assurance
Benefits of assurance 1,
Limitations of assurance 2,
What is the expectations gap 3
5
cards
Sustainability
What is sustainability 1,
What is sustainability impacts 2,
Sustainability dependencies 3
14
cards
Sustainability and Assurance
Why has demand for assurance on s...,
Is it voluntary to obtain assuran...,
Rule of eucsrd 3
5
cards
After Assurance engagement acceptance T2
Procedures to follow after accept...,
What an auditor needs to do befor...,
Pre conditions for an audit 3
22
cards
Obtaining an Engagement
How auditors can obtain an engage...,
Considerations to decide if audit...,
T 3
17
cards
Planning
Recap of stages of an audit 1,
Objectives of planning audit 2,
Two sections of planning stage 3
7
cards
Materiality
What is materiality when is it de...,
How is the materiality figure set 2,
Materiality guidelines by size 3
9
cards
Sustainability materiality
Double materiality 1,
Issb ifrs sustainability disclosu...,
Is it mandatory to obtain assuran...
4
cards
Understanding an Entity
What is a risk 1,
How do we identify risks 2,
Matters to consider when obtainin...
10
cards
Risk
What is audit risk 1,
Audit risk formula what is the au...,
What is inherent risk 3
16
cards
Analytical Procedures
What are analytical procedures 1,
Return on capital employed formula 2,
Return on shareholder funds 3
11
cards
Processes and Internal Control T3
What is an internal control 1,
Why we have internal controls 2,
Components of internal control nm...
22
cards
General IT controls
What is a general it control 1,
Examples of gic 2,
What is a information processing ...
17
cards
Technological advances
What is digital transformation 1,
Examples of digital transformation 2,
What the auditor is concerned wit...
19
cards
Cyber security risks
Human threats 1,
Fraud 2,
Deliberate sabotage 3
16
cards
Document Internal controls
Methods of obtaining info documen...,
Different ways to record document...,
Ad dis of narrative notes 3
7
cards
Internal audit.
What is internal audit 1,
Diff between purpose of internal ...,
Diff in who they report to intern...
9
cards
Internal control system revenue T4
What is the control for goods sol...,
What is the test of control for g...,
What is the control for orders mi...
8
cards
Internal control system Dispatch and invoicing
Control for goods dispatched but ...,
Test of control for goods dispatc...,
Control for goods dispatched but ...
14
cards
Internal controls Recording
Control for the wrong customers a...,
Test of control for the wrong cus...,
Control for sales recorded in the...
10
cards
Internal controls cash collection
Test of control for cash received...,
Control for cash received by post...,
Control for cash received but not...
4
cards
Documentation T5
What is audit documentation 1,
Why assurance providers need to r...,
Factors impacting the form and co...
11
cards
Appropriate evidence
What is audit evidence 1,
Criteria for audit evidence 2,
Isa 500 definition for sufficient...
11
cards
Tests of control and tests of detail
What is a test of control 1,
What is a substantive procedure 2,
What is a test of detail and a su...
8
cards
Evidence and collection techniques
How do assurance providers obtain...,
Inspection of tangible assets exa...,
Inspection of documentation examp...
18
cards
Sampling
What is audit sampling 1,
How to ensure we can make conclus...,
What does the auditor need to do ...
10
cards
Concluding on evidence
How we decide if the errors are s...,
How we carry out a test of detail...,
What do we do if misstatement is ...
9
cards
Substantive Testing NCA and Inventory T6
Asset assertions and how it relat...,
Sources to provide evidence on no...,
Risks of misstatement regarding i...
21
cards
general
What is the companies act checkli...,
What is a control activities and ...,
Are auditors required to report d...
6
cards
Substantive testing, other receivables and bank
Risks of misstatement relating to...,
Sources used to test receivables 2,
How the auditor usually obtains e...
18
cards
Substantive testing liabilities
Major risks of misstatements rela...,
Sources of information which can ...,
Most important tests for trade pa...
17
cards
Audit of Accounting estimates-substantive procedures
Auditors responsibility 1,
What the auditor should consider ...
2
cards
Substantive procedures Profit or loss
Audit procedures to provide evide...,
How to obtain evidence for revenue 2,
Purchases 3
7
cards
Matters to report to senior staff within an Audit team
Matters to report 1
1
cards
Completion T7
Why we do written representations 1,
General matters what do general r...,
When are written representations ...
7
cards
Auditors report
What evidence does the auditor ne...,
What does the content of the audi...,
Type of opinions the auditor will...
5
cards
contents
Contents of auditors report 1,
Other reports for wider assurance...
2
cards
Code of professional ethics T8
Need for ethics 1,
One key role of regulatory bodies 2,
Who is subjected to the icaew eth...
14
cards
Ethics and safeguards continued
2 general safeguard categories 1,
Examples of safeguards 2,
Icaew code 3
7
cards
Ethical standards
Can all risks be reduced by safeg...,
What is integrity 2,
What is objectivity 3
8
cards
Threats and safeguards
Direct financial interest 1,
Indirect financial interest 2,
Parties that are not allowed to h...
26
cards
Non-audit work
What is non audit work 1,
Why the classification of an audi...,
Taxation service 3
11
cards
Advocacy, resolving ethical conflicts, and confidentiality.
Advocacy threat 1,
Advocacy safeguard and example 2,
Factors to consider when resolvin...
14
cards
General data protection regulation GDPR
Rules of the enhanced data protec...,
What are the legislation and acts...,
What do all entities holding pers...
5
cards
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Assurance
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