会计考试

首页 >会计考试 > acca > 备考资料 > 知识点 >

acca知识点:F8理解审计战略和审计计划

2017-11-23 19:33:51

acca考试交流群: 482203766                                                                         中公acca微信zgacca

acca知识点:F8理解审计战略和审计计划

Audit is a subject where sharp minds can excel. What is really demanded of us is understanding ‘materiality’. As simple as it sounds, it can be the reason why many students might fail paper F8. The first question was about Audit Strategy. And ‘materiality’ was definitely a part of it. Do you know the role of the audit strategy and audit plan in defining materiality?

Audit strategy and materiality

An audit strategy outlines the OBJECTIVES of the audit that is to be performed – like crafting the skeleton of a body. The details are yet to be filled in.

Once the internal control environment and the risk assessment system of the entity is understood, the independent auditor then needs to define an OVERALL materiality level. This consists of two important components:

Performance Materiality, and

Tolerable Misstatement Error

The auditor defines each of the two components. The performance materiality as well as the tolerable misstatement error differs from organisation to organisation, market to market and economy to economy.

Audit plan and materiality

The audit plan is an important document. ISA 300 is the governing standard here. The audit plan provides guidance on:

The direction

The supervision, and

The review of audit procedures

While going through ISA 320 – Audit Materiality in the study text, I ran a few searches online, discovering that the US regulates its audit procedures under Statements on Auditing Standards (SAS). These are a collection of Generally Accepted Auditing Standards (GAAS).

I opened SAS 122, section 320, which was titled Materiality in Planning and Performing an Audit. There, I found what I was looking for – the audit plan:

Helps give the auditor insight regarding the effect of the nature of an organisation in defining materiality.

Helps outline situation-based factors influencing the materiality.

Allows the auditor to take in account several other factors to establish effective materiality levels.

Lets the auditor document any changes/revisions in the materiality level initially defined by the auditor if crucial evidence is found later on at the performance stage.

Takes into account any possible changes to the performance materiality level following any change/revision in the overall materiality level.

As part of the acca student network, we all need to understand the basics of audit firmly to excel in our careers. I believe acca studies do not just keep you confined to one book in your bag, but demand you to research on your own.

I would love to hear your thoughts on this. Let me know if this article has helped you on your path to success in Paper F8.

 

更多acca考试内容、考试资讯请查看中公acca 

欢迎关注(中公教育会计考试频道)
及时掌握会计考试信息

微信咨询 回复“2022”领取备考大礼包
THE END  

声明:本站点发布的来源标注为“中公教育”的文章,版权均属中公教育所有,未经允许不得转载。

如果对你有帮助的话,就点个赞吧!

 猜你喜欢换一换  

 图书教材去APP查看更多图书

备考工具
退出

会计考试<

进入频道首页

会计从业资格

考试信息 考试题库 备考资料

初级会计职称

考试信息 考试题库 备考资料

中级会计职称

考试信息 考试题库 备考资料

注册会计师

考试信息 考试题库 备考资料

会计实操

会计账务 0基础/出纳实务 报税实务 实操软件 实务热点

acca

考试信息 备考资料 考试题库

税务师

考试信息 考试题库 备考资料

会计招聘

招聘信息 报考指南 网申报名 网申指导 笔试通知 面试通知 笔试题库 面试题库

财税法规库

政策解读 财政法规 税收法规 金融法规 经济法规 国际会计准则 审计法规 海关法规 工商法规 评估法规 考试相关法则

财经新闻

高级会计师

考试信息 备考资料 案例分析 经验分享

中级经济师

考试信息 考试题库 备考资料

各项目入口一键直达<

国家公务员

地方公务员

北京公务员

山东公务员

浙江公务员

江苏公务员

湖南公务员

辽宁公务员

吉林公务员

黑龙江公务员

上海公务员

四川公务员

广东公务员

天津公务员

云南公务员

湖北公务员

河南公务员

福建公务员

安徽公务员

河北公务员

重庆公务员

江西公务员

陕西公务员

贵州公务员

青海公务员

内蒙古公务员

宁夏公务员

新疆公务员

广西公务员

甘肃公务员

山西公务员

海南公务员

西藏公务员

事业单位招聘

公选/遴选考试

大学生村官

军人考试

教师考试

警法考试

选调生

三支一扶

农村信用社

申论热点

银行考试

医学考试

会计考试

在职硕士

医疗卫生招聘

社区工作者

考研

中公新闻

时事政治

行测

面试

申论

公益性岗位

国企招聘

乡镇公务员

防诈骗技巧

公基常识

一级消防工程师

投资者关系网站

公考问答

社会工作师

四六级

法考

软考

PMP

建设工程

IT培训

外语培训