Business risk
Eoq revision
Materiality size and nature
Withdrawal
Integrity of the client
Creating an internal culture of quality
Independence and Qc
Leadership and Qc
Importance of discussion
A team for public sector entities
P2 June 13 Q1 note 2
P2 June 13 note 1
Audit test 2
Test p7
P7 June 12 3 1
Regulations and auditing problem
Non compliance suspected
Money laundering and knowing your client
Reporting to MLRO
Accountant duty to report money laundering
Definition of money laundering
Regulations
Regulations
Statistical sampling
Exam and substantive tests
Bank letter
Non current liabilities
Contingent asset
Provisions
Suppliers direct confirmation
Valuing goods for resale
Management and auditor responsibility
Assertions - why oh why :)
Issuing credit notes after year end
Review aged debtors listing
Sample of clients for circular
Timing of circular
Client authorisation
Debtors circular
Assets and completeness assertion
Opening balances
Inquiry
Assertions baby
Application controls
ICE
Analytical procedures
Understanding the entity
Detection risk
Professional scepticism
Limitations of external audits
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