Tips for T8 CAT June 2010

The analysis of the past papers has indicated that the following will definitely be present

Question

1. Internal controls question - could include general internal controls, limitations, ICEQ or ICQ on any system, general internal control objectives, internal control objectives for specific areas - sales, cash, nca or inventory. Consideration of weakness is most likely.

Question

2. Planning question focusing on audit risk related to specific area - AR, Inventory, Cash or general question like Finch. Audit acceptance procedures, include considerations for client risk, audit planning matters

Question

3. Audit procedures, audit assertions, audit of NCA, Bank, Bank letter, Written representation letter

Question

4. Audit report, reasonable assurance, confidentiality, materiality, ISA 540, ISA 520

The above are purely speculative and your examiner does not support topic spotting for the T8 examination, you should make sure that you have covered all the issues in the study guide. The best approach to study for T8 is to go through the slides that you got in class and review of the past year papers.