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Assurance Final > --------------------------------------------------- > Flashcards

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Assurance Final (114 decks)

Week 2 - Why is Assurance Necessary?

Week 2 - Why are Shareholders Considered to be the Most Important Stakeholder?

Week 2 - Assurance System

Week 2 - Limitations of Assurance

Week 2 - Key Elements

Week 2 - Getting a New Client

Week 2 - Engagement

Week 2 - Preconditions

Week 2 - To Consider Before Accepting an Audit Engagement

Week 2 - Due Diligence

Week 2 - Engagement Preconditions

Week 2 - Replacing a Previous Auditor

Week 2 - Money Laundering Regulations

Week 2 - Subsequent to Accepting Nomination

Week 2 - Once Appointed

Week 2 - Letter of Engagement

Week 2 - When to Send an Engagement Letter

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Week 3 - The Audit Process

Week 3 - Pre-audit Activities

Week 3 - Planning

Week 3 - Fieldwork

Week 3 - Completion

Week 3 - Audit Risk

Week 3 - Inherent Risk

Week 3 - Control Risk

Week 3 - Detection Risk

Week 3 - Detection Risk Challenges

Week 3 - Links to Planning

Week 3 - Potential Sources of Inherent Risk

Week 3 - Factors that make up Theft/Fraud

Week 3 - Significant Risks

Week 3 - Why is There a Need for Ethics

Week 3 - Professional Ethics Hope to Provide

Week 3 - Ethical Guide

Week 3 - ICAEW Five Fundamental Principles

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Week 4 - Substantive Procedures

Week 4 - Independence and Objectivity

Week 4 - Approach to Independence Question

Week 4 - Threats to Independence

Week 4 - To Make Ethical Decisions

Week 4 - What to do to Protect Independence

Week 4 - Other Safeguards

Week 4 - Ethical / Independence Scenario Possible Actions

Week 4 - Approach to Answering Question about Ethical Independence

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Week 5 - Internal Controls

Week 5 - Who is Responsible for Internal Control

Week 5 - Components of Internal Control

Week 5 - Internal Control Objectives

Week 5 - Controls Classification

Week 5 - Categorising Controls

Week 5 - Limitations of Internal Controls

Week 5 - The Auditor and Internal Control

Week 5 - How to Review a Client's System

Week 5 - Ascertain the System

Week 5 - Walk-Through Tests

Week 5 - Recording the System

Week 5 - Corroborate with the Client

Week 5 - Review Overall System of Controls for Reliability

Week 5 - Test the System

Week 5 - Which Controls Should we Test

Week 5 - Evaluate the Reliability of Controls

Week 5 - Steps to Assessing Control Risk

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Week 6 - Components of Internal Control

Week 6 - General Knowledge

Week 6 - What is the Audit Committee Responsible for?

Week 6 - Three Lines of Defence

Week 6 - Requirements

Week 6 - Key Differences Between Internal and External Audit

Week 6 - Relationship between Internal and External Audit

Week 6 - Consider Planned Internal Audit Work

Week 6 - Benefits of Relying on Internal Audit Work

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Week 7 - Management Assertions

Week 7 - Accounting System DO THIS

Week 7 - Journals

Week 7 - Controlling a Set of Accounts

Week 7 - What is Missing

Week 7 - Work We Do Before Year End

Week 7 - Work We Do At Year End

Week 7 - Work We Do After Year End

Week 7 - Test on Balances/Controls

Week 7 - Re-call: Preconditions for an Audit

Week 7 - Assertions When Looking at Statement of Financial Position - Balances at the Period End

Week 7 - Assertions that Relate to Income Statement / Profit or Loss Account

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Week 8 - Year end Testing/Substantive Testing

Week 8 - Audit Evidence

Week 8 - Presentation and Disclosure

Week 8 - Audit Evidence

Week 8 - If the Evidence is Less Reliable

Week 8 - Types of Audit Test

Week 8 - Analytical Procedures

Week 8 - Analytical Procedures at Testing

Week 8 - Mandatory Audit Tests

Week 8 - How to Test - Directional Testing

Week 8 - Journals

Week 8 - Test Journals

Week 8 - Dealing with Deviations

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Week 9 - Re-call - Assertion Test

Week 9 - Recall - Testing Procedures

Week 9 - Evidence

Week 9 - Non-current Assests

Week 9 - NCA - Completeness

Week 9 - NCA - Rights and Obligations

Week 9 - NCA - Valuation

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Week 15 - Integrity, Objectivity and Independence

Week 15 - Why do Independence and Objectivity Matter?

Week 15 - Integrity

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