1. ACCA F8 Audit & Assurance

2. Paper Aims/Objectives
To develop knowledge and skills in the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework. 2

3. Learning Outcomes
Upon completion of this subject students should be able to:
Explain the nature, purpose and scope of assurance engagements including the role of the external audit and its regulatory and ethical framework
Explain the nature of internal audit and describe its role as part of overall performance management and its relationship with the external audit
Demonstrate how the auditor obtains an understanding of the entity and its environment, assesses the risk of material misstatement and plans an audit of financial statements
Describe and evaluate information systems and internal controls to identify and communicate control risks and their potential consequences, making appropriate recommendations
Evaluate findings and modify the audit plan as necessary
Explain how the conclusions from audit work are reflected in different types of audit report, explain the elements of each type of report.

4. Assessment
The syllabus is assessed by a three hour paper-based examination.
Consisting of five compulsory questions. The bulk of the questions will be discursive but some questions involving computational elements will be set from time to time.

5. Reading List
Students studying ACCA subjects F1, F2, F3, F5, F7, F8, F9, P1, P2 & P3, can purchase their books and study aids from Kaplan Publishing. IBAT College students can also avail of a 30% discount with KAPLAN.
Students studying ACCA subjects F4 and F6, will be able to purchase the core texts directly from IBAT College.

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