Well the examiner has had a love for the internal controls and balance testing, which indicates that this time around it will ........
1. Audit risk question with issues to be considered before accepting a new client
2. Internal controls - sales system or wages system
3. Balance testing - AR, Share Capital, NCA - PPE
4. Experts - ISA 620
5. Audit of subsequent events - refer to the article that came out in April
6. Audit report - OMP and EOMP
7. Internal audit - outsourcing / using internal audit work
8. Audit sampling - ISA 530
9. Audit for
- Comparatives
- Opening balances
- Outsource services - ISA 402
- ISA 505 - Confirmation
Limitations of internal controls
Objectives of internal controls
ICEQ and ICQ for sales, wages and purchases system
You should also know the following
IAS 8,10,16,36,37,38
Note for students that are planning for the next semester, I am starting J Pro - P1 and P3 papers earlier - July 4th. Those that are interested can book now, since I will only have limited seat.
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