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2016年ACCA(F8)考试模拟题(43)

来源 :中华考试网 2016-03-05

  一.应收帐款及应付帐款在全年均维持在一个稳定的水平。

  Fundamentals Level – Skills Module, Paper F8

  1 (a) Audit strategy document

  Section of document Purpose Example from B-Star

  Understanding the entity’s environment Provides details of the industry area that Size of the theme park sector and

  the company is in along with specific expected growth over the next few years.

  information about the activities and

  strategies of the individual client.

  Understand the accounting and internal Details of accounting policies of the Accounting policy for sales – sales are

  control systems client and previous assessments of stated net of sales taxes.

  internal control systems indicating the

  Reliance on control systems in B-Star

  expected extent of reliance on those

  may be limited due to lack of

  systems.

  documentation of controls.

  Risk and materiality The assessment of risk for the client and Materiality for sales to be 5% of turnover.

  the risk of fraud and error and the

  B-Star receives cash sales – audit work

  identification of significant audit areas.

  required to determine the completeness

  The materiality level for audit planning of sales.

  purposes.

  Timing and extent of audit procedures Details of the focus on audit work on Audit software could be used to provide

  specific areas. Detail on the extent of use analytical procedures on the sales of

  of audit software and possible reliance B-Star

  on internal audit.

  Co-ordination, supervision and review of Details the extent of involvement of B-Star has only one location – audit staff

  audit work experts, client locations and staffing will be required to work there for X

  requirements for the audit. weeks.

  (b) (i) Risk affecting completeness

  – The computer system does not record sales accurately and/or information is lost or transferred incorrectly from the

  ticket office computer to the accounts department computer.

  – Cash sales are not recorded in the cash book; cash is stolen by the accounts clerks.

  – Tickets are issued but no payment is received – that is the sale is not recorded.

  – Cash is removed by the ticket office personnel, by the security guards or by the account clerks.

  – The account clerks miscount the amount of cash received from a ticket office.

  (ii) Use of tests of controls and substantive procedures

  Tests of controls

  Tests of control are designed to ensure that documented controls are operating effectively. If controls over the

  completeness of income were expected to operate correctly, then the auditor would test those controls.

  In B-Star, while controls could be in operation, e.g. the account clerks agreeing physical cash to computer summaries,

  there is no indication that the control is documented; that is the computer summary is not signed to show the

  comparison has taken place. The auditor could use the test of inquiry – asking the clerks whether the control has been

  used, and observation – actually watching the clerks carry out the controls. As noted above though, lack of

  documentation of the control does mean relying on tests of control for the assertion completeness of income has limited

  value.

  Substantive procedures

  Substantive procedures include analytical procedures and other procedures.

  Analytical procedures include the analysis of significant ratios and trends and subsequent investigation of any trends or

  relationships that appear to be abnormal. These procedures can be used effectively in B-Star as an approximation of

  income that can be obtained from sources other than the cash receipt records.

  Other procedures, or tests of detail, are normally used to verify statement of financial position assertions and include

  obtaining audit evidence relevant to specific assertions. However, they could be used in B-Star to trace individual

  transactions through the sales/cash systems to ensure all ticket sales have been recorded (completeness assertion). The

  use of other procedures will be time consuming.

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