1. Define audit sampling and discuss its applicability.
2. Distinguish between sampling and non-sampling risk.
3. Distinguish between statistical and non-statistical
Problem definition and the
Social research on Asthma
62 per cent Australian schools registered as Asthma
Friendly and work towards early interventions.
To determine whether the program made a difference,
1. Define the concept of materiality and its relationship
with audit evidence.
2. Describe alternative audit strategies.
3. Indicate the factors that affect the su
1. Explain the relationship between control risk
assessment and audit strategy.
2. Describe the purpose of tests of controls and the
nature, timing and extent of such tests.
1. Describe how various risk factors relate to the type of
2. Explain the process for determining the appropriate
level of substantive pr
Identify the audit objectives applicable to sales
Describe the functions and control procedures
normally found in information systems for
Identify the audit objectives applicable to purchases,
payables and payroll.
Describe the functions and control procedures normally
found in informat
Identify the audit objectives applicable to
Explain the nature of inventory records.
Describe procedures to be followed
1. Appreciate the importance of audit risk assessment and
why it is linked to financial statement assertions.
2. Explain the importance of business risks in audit
1. Describe the steps involved in client acceptance and
2. State the purpose and content of an engagement letter.
3. Explain the steps in plann
The role of marketing research
and the research process
Research used in reducing road toll
Victorian Transport Accident Commission uses highly
emotive campaigns to raise awareness and promote
Suggestion from researc
Solutions ACCY342 2015 T1
Chapter 8 & 9
8.11 List the steps performed by an auditor before accepting a new audit
Assess the firms competence to carry out the audit work.
Obtain permission from the client to contact the outgoi
1. Describe the nature of governance
2. Appreciate the role of the auditor in governance
3. Discuss the issues of internal control, risks and
earnings management in gove
Explain the role and duties of the professional
Discuss the basic ethical principles for
Explain the conceptual p
Appreciate the framework on assurance
engagements other than those relating to
general-purpose financial report audits.
1. Comprehend the impact of the changing legal environment on
2. Explain the auditors liabilities to shareholders and auditees.
3. Describe t
1. Discuss the legal and professional issues in appointing
2. State the statutory and other duties of the independent
1. Outline the reporting standards for a financial statement
2. Explain what is stated in the audit opinion of an
3. Describe the other reporting consid
1. Identify the audit objectives applicable to cash.
2. Discuss considerations relevant to determining
the audit strategy for cash.
3. Design and execute an audit pr
1. Describe the auditors responsibilities with respect to
events occurring after the end of the financial year.
2. Explain the different types of accounting treatments for
Auditing & Assurance Services
Learning Objective 1
A process designed to provide reasonable assurance regarding
the achievement of managements objectives in
Solutions ACCY342 2016 T5
Chapter 8 & 9
List the steps performed by an auditor before accepting a new audit
Define the term working papers and indicate their main function in auditing.
List the four procedures
Chapter 2: Governance and the Auditor
Chapter 3: Professional ethics, independence and
Describe the essential components of enterprise risk management (ERM) as put
forward by the Committee of Sponsoring Organisations of
AUDITING AND ASSURANCE SERVICES (AUDIT)
MIAQE MARCH 2016
a) The By-Laws (On Professional Conduct and Ethics) are not clear as to what
constitutes a violation in these three situations. A central point i
Sandy is a new accounting student in College PTI. She questions the need for and the benefit of
an audit, I am curious to know why we should hire an auditor to audit a company. I thought a
company has their own internal auditor. Why should we p
Under the capitalism economic system, audit firms are said to be like any other firms, where
the entities deemed to be described as profit seeking entities in which audit firms instead of
being an independent body itself where the professiona