This module prepares you for the ACCA Professional Paper F8 examination.

The aim is to develop knowledge and understanding of the audit process and its application for both external regulation and for business control and development for a range of organisations.

On completion of this paper candidates should be able to:

• understand the nature, purpose and scope of auditing and internal review, the role of external audit and its regulatory framework and the role of internal audit in providing assurance of the risk management and control framework of the organisation
• identify risks and plan work to meet the objectives of the audit or review assignment
• Identify and describe the work that will be required and its method of execution in order to draw appropriate conclusions
• evaluate the outcome of an assignment and prepare appropriate reports for users both internal and external to the organisation including making recommendations to enhance business performance and

Prepare you for ACCA Paper F8 exam.

Important Notes: Some of the screens in the lessons may bear marks referring to course code prior to the December 2007 syllabus. While there is a revamp of the ACCA syllabus, many of the topics, especially those addressing generic areas are still the same. Our instructors had reviewed the syllabus, and had taken out topics that are no longer relevant, and inserted or replaced lessons to address new topics. The lessons in the module therefore fully addressed the post December 2007 syllabus.

Audit framework nature of a statutory audit, responsibility for fraud and error, consideration of law in an external audit, codes of conduct, fundamental principles.

Internal audit and review role of internal audit and its relation to corporate governance, internal audit, risk management and organisational control, internal audit and achieving corporate objectives.

Planning and risk defining objectives for audit and review assignments, risk assessment, materiality, accounting and internal control systems, control evaluation, audit plans, identifying opportunities to add value to the business, administration and control.

Performance of audits and reviews financial statement assertions, procedures for obtaining audit evidence including balance and transaction testing, analytical procedures, CAATs and management representations, sampling techniques.

Reporting communications to management, format of reports (statutory and non-statutory), audit opinions, reporting on assignment objectives.

Lecturer: Mrs Wong Soo Leong

Mrs Wong Soo Leong is a fellow of the ACCA. She holds a Bachelor of Accountancy from the National University of Singapore. She has more than 25 years experience in the audit area, both external and internal. She was the Group Audit Director of a large public company in Singapore prior to her retirement. She is now a freelance consultant in Australia.

Included with this subscription are the following.

1. Access to Outreach virtual classroom lessons
2. Online assessment tests
3. PDF copies of lecture notes.

Click here to download sample lesson. Save the downloaded executable file to your local harddisk. Double click on the file to run and view lesson. The file about 6 - 8MB in size and may take a while to download for slow Internet links.
Note that NOTHING will be installed on your computer when you run this file. Simply delete this file when you do not need it anymore.

Terms and Conditions:
For the subscription price stated below, you will have unlimited access to all the lessons in this module, during the access period (as stated below).

Note that the subscription price DOES NOT include ACCA membership fees or examination fees. You will have to liase with ACCA UK, and any membership and examination fees shall be paid directly to ACCA UK.

Refund: For refund request after purchase, please refer to our Refund Policy listed on our home page.

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