[PDF] Top 20 ACCA Noter Answer Paper F8 f8int 2008 jun a

... 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

... • In a minority of situations, assuming that the client would produce and review the questionnaires. As with any audit documentation, it is the auditor who will obtain evidence on that item, not simply relying on ... Lihat dokumen lengkap

... The business is likely to reduce the risk by maintaining its vehicles and training its drivers, and to transfer it by insuring against the cost of repairs and lost time. Alternatively, it might require drivers to buy ... 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

... 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

... 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

... 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

... Mr Sheppard is the Chief Executive Officer and board chairman of SGCC. He appoints and maintains a board of five executive and two non-executive directors. While the board sets performance targets for the senior ... 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

... 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

... borrowed a substantial sum to convert three derelict barns into luxury holiday cottages, and these have proved to be a huge success, being fully booked from late May to ...on a part-time basis to ... 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

... The NFA partnership will not have any prior knowledge of Octball. This will be a disadvantage as this will mean the partnership will need time to ascertain the accounting systems and controls etc in Octball before ... Lihat dokumen lengkap

... have a significant effect on profit (there may be slow moving or obsolete inventory that needs to be written down) and on property, plant and equipment which (as a manufacturer and distributor) is likely to ... Lihat dokumen lengkap

... is a wholesaler of electrical goods such as kettles, televisions, MP3 players, ...in a major ...given a Seeley identification card to confirm their ... Lihat dokumen lengkap

... Apparently Dark have been preparing NorthCee’s financial statements as well as carrying out the audit in previous years. While this may not have been an independence issue in the past, it is likely to be now as in many ... Lihat dokumen lengkap

... send a positive or negative confirmation. Positive confirmations ask for a reply in any case (and may have a low response rate), negative confirmations only require a reply when the creditor ... Lihat dokumen lengkap

... (ii) Areas material to the financial statements are likely to be long and short-term leasing receivables and inventory. Leases may be complex and the auditors will wish to ensure that accounting policies are appropriate ... Lihat dokumen lengkap