[PDF] Top 20 ACCA Noter Answer Paper F8 f8int 2007 dec a

... The meaning of the extract. It confirms that audit work has been carried out in accordance with external Auditing Standards – not arbitrary standards made up by the audit firm and that audit planning was carried out to ... Lihat dokumen lengkap

... on a public holiday and given that there is a high level of staff turnover, there is a possibility that staff will not arrive or will complete the work too quickly without properly counting the ... Lihat dokumen lengkap

... for a medium-sized firm of Chartered Certified Accountants with seven offices and 150 ...Travel, a private company providing discounted package holiday services in the ... Lihat dokumen lengkap

... Results: Details of purchase orders were normally correctly recorded through the system. Five purchase orders did not have any associated GRN, PI and were not recorded in the PDB. Further investigation showed that these ... Lihat dokumen lengkap

... Assets are generally more at risk from overstatement than from understatement. There is a risk that receivables are overstated by the under-provision for bad debts. If assets are overstated, profits are likely to ... Lihat dokumen lengkap

... The question was worth 12 marks. The requirement verb discuss indicated that some comment was needed to show why the points made were relevant. The marking scheme allowed one mark for mentioning the specific area and ... Lihat dokumen lengkap

... and a further mark for relating this to the scenario ...provided a list of benefits of internal audit with little or no reference to the scenario, effectively limited marks to 1 out of ...obtained a ... Lihat dokumen lengkap

... While not completely transparent, the marking scheme followed the convention of parts (a) and (b). The requirement verb was “list” indicating that simply the weakness was required to obtain a mark. In this ... Lihat dokumen lengkap

... as a whole is significant to Twinkletoes because of the total amounts owed (one third of total receivables), the rising level of bad debts and the adverse effect of slow payers on cash ...experience a small ... Lihat dokumen lengkap

... From your discussions with the finance director, you ascertain that a capital expenditure budget is prepared annually. Departmental managers can authorise capital expenditure up to $5,000, as long as it is within ... Lihat dokumen lengkap

... You have been asked to start the audit planning for Stark Co, by Mr Son, a partner in Ali & Co. Mr Son has been the engagement partner for Stark Co, for the previous nine years and so has excellent knowledge ... Lihat dokumen lengkap

... The question requires an understanding of the purpose of control systems, namely payroll in this scenario. The student is also required to identify weaknesses relevant to the scenario and suggest improvements. This ... Lihat dokumen lengkap

... • The internal audit function in any entity is part of the overall corporate governance function of an entity. Corporate governance objectives include the management of the risks to which the entity is subject that would ... Lihat dokumen lengkap

... Mr Grace has been the audit partner of Ancients for eight years. His objectivity for the audit may be threatened by the ongoing close relationship with the client. In other words, he may be too friendly with the ... Lihat dokumen lengkap

... is a decreased likelihood of ...reconciliations. A review of any customer complaints file (if these letters are kept) will also help to identify any orders that have not been ... Lihat dokumen lengkap

... Shift-workers are split into groups of about 25 employees, with each group under the supervision of a shift foreman. Each day, each group of shift-workers is allocated a specific vehicle to manufacture. At ... Lihat dokumen lengkap

... (iv) Auditors consider whether the period to which directors have paid particular attention is adequate. This should normally be at least 12 months from the balance sheet date. Auditors also enquire of management as to ... Lihat dokumen lengkap

... that a provision is a liability of uncertain timing or amount which should only be recognised when there is a present obligation, as a result of a past event, and where it is probable ... Lihat dokumen lengkap

... to a wide range of ...but a number of clients withdrew their contracts. A senior employee then left Smithson, stating lack of investment in new analysis machines was increasing the risk of incorrect ... Lihat dokumen lengkap

... Fundamentals Level – Skills Module, F8 INT Audit and Assurance International June 2008 Marking Scheme Marks 1 a Accuracy of internal control questionnaires 1 for each well-explained s[r] ... Lihat dokumen lengkap