ACCA F8 Audit & Assurance (International)
F8 tests student's knowledge of auditing and assurance theory and the possibility to apply this knowledge to scenarios in their auditing careers. F8 focuses on assurance engagements and its application within the professional regulatory framework
F8 tests student's knowledge of auditing and assurance theory and the possibility to apply this knowledge to scenarios in their auditing careers. F8 focuses on assurance engagements and its application within the professional regulatory framework
Fichier Détails
Cartes-fiches | 16 |
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Langue | English |
Catégorie | Finances |
Niveau | Autres |
Crée / Actualisé | 06.04.2014 / 03.07.2017 |
Attribution de licence | Attribution (CC BY) (BPP Learning Media) |
Lien de web |
https://card2brain.ch/box/acca_f8_audit_assurance_international
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What is an External Audit
This is a form of assurance engagement performed by an auditor in order to provide an independent opinion about a set of financial statements
What is the Objective of an External Audit
To enable the auditor to express an opinion on whether the financial statements are prepared;
- in all material respects
- in accordance with an applicable financial reporting framework.
What is the PURPOSE of an External Audit
To enable the auditors to give an opinion on financial statements
What is the Objective of an audit?
Solely to report to the shareholders
What is the function of an audit?
provides assurance to the shareholders and other stakeholders of a company on the financial statements because it is independent and impartial
What can an Auditor provide as an assurance in an independent audit review to its shareholders?
What is Accountability? Who is accountable to who?
Accountability is the quality or state of being accountable, that is, being required or expected to justify actions and decisions.
Its suggests an obligation or willingness to accept responsibiloty for one's actions.
Directors (Management) are accountable to shareholders.