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Link: [ Ссылка ] This is the 2nd video in the series of 9 covering section D of ACCA’s F8 – Audit and Assurance including:

ACCA F8 - Syllabus D1. Assertions and audit evidence covered under:

Video 1 – Financial Statement Assertions.
Video 2 – Gathering Audit evidence

ACCA F8 Syllabus D2. Audit procedures covered under:

Video 3 – Smaller Entities & Not-for-profit Organisations.
Video 4 – Substantive Testing Specific balance.

ACCA F8 Syllabus D3. Audit sampling and other means of testing covered under:

Video 2 – Gathering Audit evidence

ACCA F8 Syllabus D4. The audit of specific items covered under:

Video 5 – Audit of specific balances - current asses.
Video 6 – Audit of specific balances - Liabilities
Video 7 – Audit of specific balances - P&L-Directors and Equity.

ACCA F8 Syllabus D5. Automated tools and techniques covered under:

Video 8 – Computer Assisted Audit Techniques - CAATs.

ACCA F8 Syllabus D6. The work of others covered under:

Video 9 – Audit Evidence - The work of others

ACCA F8 Syllabus D7. Not-for-profit organizations covered under:

Video 3 – Smaller Entities & Not-for-profit Organisations.

Watch full playlist here: [ Ссылка ]


Download ACCA F8 2022 - 2033 syllabus here: [ Ссылка ]#
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On successful completion of this video, you will be able to:

ACCA F8 - Syllabus D1. Assertions and audit evidence: Video 1 & 2

a) Explain the assertions contained in the financial statements about:
(i) Classes of transactions and events and related disclosures;
(ii) Account balances and related disclosures at the period end.
b) Describe audit procedures to obtain audit evidence, including inspection, observation, external confirmation, recalculation, re-performance, analytical procedures and enquiry.
c) Discuss the quality and quantity of audit evidence.
d) Discuss the relevance and reliability of audit evidence.



ACCA F8 Syllabus D3. Audit sampling and other means of testing covered under: Video 2

a) Define audit sampling and explain the need for sampling.
b) Identify and discuss the differences between statistical and non-statistical sampling.
c) Discuss and provide relevant examples of the application of the basic principles of statistical sampling and other selective testing procedures.
d) Discuss the results of statistical sampling, including consideration of whether additional testing is required.



Chapters
00:00 - intro
00:04 – Process of gathering audit evidence
00:24 – Audit procedures
00:54 – Control and substantive procedures
01:35 – example of control procedures
02:09 – Substantive testing
02:44 – Financial statement assertions
03:28 – Quality of evidence ISA 500
03:56 – What is enough evidence?
05:52 – What is Reliable evidence?
06:45 – ISA 500 Methods of gathering audit evidence
08:09 – ISA 530 Sampling
09:07 – Methods of sampling
09:26 – Statistical sampling
09:45 – methods used to select samples
12:17 – Thank you.

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Transcript:


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