Paper 3.1 - Audit and Assurance Services (International/UK)

Aim

To ensure candidates can apply judgement and techniques in the provision of a range of audit and assurance services.

Objectives

On completion of this paper candidates should be able to:

• demonstrate their ability to work within a professional and ethical framework
• understand current developments in auditing and the provision of audit related services
• explain and evaluate the auditors’ position in relation to the acceptance of appointments and quality control
• identify and describe the work required to meet the objectives of a range of audit and non-audit assignments
• evaluate the results of work performed and prepare reports to reflect these and
• demonstrate the skills expected in Part 3

Content

Professional and ethical considerations objectivity, confidentiality, conflicts of interest, changes in professional appointments, provision of other services, specialist valuations, corporate financial advice, professional liability, regulatory environment.

Practice management quality control practices and procedures, advertising and publicity, fees, tendering, engagement letters, consultation.

Assignments group audits, audit related services, out-sourced finance and accounting functions, prospective financial information, systems reviews, e-commerce reviews, social and environmental audits.

Reporting audit reports, reports for non-audit assignments, comparative information, other information in documents containing financial statements, statutory declarations.

Click ---here--- for PDF version of  Paper 3.1 - Audit and Assurance Services (International/UK) syllabus.