Elements_ Area_ User_ Level_ Type_ FS Cover_ Nature_ Obj_ Scope_ Type_ Benefit(233)_ Limits _CSF assurance & Covers (53+243) _ Non Assu

Service_3E Means(18)_ AR is said T&F not Correct Why (204)_ Assurance Service Concepts (206)_ Working Cap AR 4 Bank ^ Say Bank & Clients Adv & Dis-Adv (209)_ Explain Reasonable & Limited (210)_ Limited / Negative Approach when (216)_ Parties Involved(232)_Defi T&F View(273)


Responsibility_ Function_ Addi Service_ Limits_ Role(22) _ Purpose (1) _ Main AP’s(3) _ IAS Following (4) _ Out Sourcing Benefit(11+24) _ Dis-Adv (12+25) _ ExAD must Perform Tasks (17) _ Role of Prof. Body (19) _ Adt During Fin Difficulty( 23) _ Area of Confirmation (92) _ Component Auditor ^ Who (176)_


Adtr Limits_ Entity Limits_ ISA Use Extent(05) _ AEIOU Using Problem For SME (47)_IAD wok may be used by ExAD(14)_Who Is Principal Auditor (175)_

04.Audit Failure: Stage_ When Fail_ Reason_ Effects_ Adtr Passed AR But Fraud in Purchase is Found Later (207)_Adt is an Assurance How (234)_ MIS
Review Vs Statutory Audit (235)_ Adt Benefit for OD(236)_ How Aid Mgt & Govns (237)_ Audit Benefit From Dir & Mgt Aspect(239)_ Adtr Task for Inv& Asset Evalu (241)

05.Expectation Gap:

Source_ Reason_ Effect_ Reduction Ways_ MD’s View of Audit (252) 06.Materiality: Defi Materiality (272)_Type_

Area_ Parameter_ Materiality is a Paradox Why (274)_

07.Engagement: Engage Principal_ Elements_ Term Cover_ Type_ Factors_ ∆ Terms_ Engg Letter

Unsigned Effect(100) _AEL Covers / Contents_ Basic_ Optional_ Relevant_ Engg Procedure (Pre _ Post) _ BoA & WP_ Adt Firm is 10% Share Holder What Effect (202)_ 20K$ Due Said for Re Engagement ^ Say Impact (203)_ Engagement Letter Unsigned Auditors Dos (265)_ Matters for 3Ys CFS Forecast Engg (266)_ Engg. Effecting Matters (268)

08.Internal Audit Department:

Work Area_ Scope_ Role_ Use by EAD_ Assess/ Evalu Criteria_ Impaired when_ Main AP’s

(2)_ Aid for Corp. Govns (6)_ Extent of Reliance (13)_ Info Needed for IAD Evaluation (15)_ When not rely on IAD (16) _ Adt Committee Benefit (20)_ Dis Adv (21)_ Reason / Need (26) _ Doc Evaluation (49) _ IAD work limited by own work how (80)_IAD work Used by ExAD when (84)_IAD work Used by ExAd ^ What 2 Consider (179)_IAD Work Used By ExAD (180) _ IAD work How Effected by ExAD (181)_ IAD full Set Taken Say AP’s (199)_ AICS Adt Covers & Users (242)_

09.Expert Engagement: Scope_ Guideline_ When used_
Way (223)

Assmt_ Impaired when_ Using Criteria(71)_Expert Assmt Way (222)_Expert work Judgment

10.Review Engagement:

Area_ Components_ Works_ Consideration_ AP's_ Who_ Actions_ Benefits(262) _

11.Quality Control


Why need(259)_ Elements_ Factors_ Party_ Firm Resp_ Indivi Adtr Resp _ Direction Task_ Sup. Vision Task(261)_ Review Task_ Qlty Breach areas (260)_ QCPP Obj


12.Compliance :

Mgt resp_ Adtr Resp

_L&R need_ Adtr Resp_ Gen Resp_ ExAdtr Resp_ nResp_ L&R category_

Law area_ RAPs_ Diff level_

2Typs^Legal Compli_ Enquiry Covers (42)_ AP’s for Enquiry (43)_ AP’s to Identify non Compliance(184+218)_ AP for Serious Breach of Law but not Affect FS (219)_ Employment Law Breach Effect (254).

13.Communication :

Whom_ What_ ?not_ Gen Issue_ Signi Issue_ Timing_ Form_ Confidentiality_ Diff Level_ Types_ Mgt Resp_ Adtr Resp_ Action by Mgt_ 240Guideline_ FS susceptibility _

Wage Clark Found Fraud^ How to Report (248)

14.Frud &Error :

Discussion Level_ Adtr Fail detect_ Internal Auditor’s Resp for FEAR (70) _ External Auditor’s Resp for FEAR (70+130+240)_ Fraud in Fixed Asset Value ^ Car ^ Adtr Dos (217)_ Payroll Clerk have Fraud what AP 2 Take (227)_

15.Doc :

What_ Why_ Factors(WP)_ Client Factor_ Adtr Factor_ WP content_ Per/File Content_

Cur/File Cont_ Rec Tech_ Gen Prin_ Form of WP_ Risk Doc _ Obligatory Disclosure (7) _ Voluntary Disclosure (8)_ Matters to Doc when Audit Risk Found( 28)_ WP factors (29)_ WP Purposes (34)_ WP Docs (35)_ WP is Unstandard When (36)_ Other Info To Doc (149)_ Can Auditor Remove File (258)_

16.GCV :


Sources_ Effects_ Breakup Basis_ Fire Occurred Vs FS Effect (134)_ Adtr Resp if GCV found (143)_ AP’s for GCA Assmt( 144+145)_ Adtr Resp if GCV found (154)_ AR if GCA Ok (155)_GCV Evidence Gathering Way(125)_GCA Found Ok(157)

17.Ethics & Threats to Ethics :

Adtr Resp_ Ethics Covers (124)_ Base

Rule_ Sources_ ISA needed_ Diff Standards of Ethics_ Standard issue Procedure_ Area of Convergence_ Cause of Attitude to Change_ Firm Resp for Ethics_ Threat Types_ Safe guard of threats_ Safe guard areas_ Action when no safe guard available_ Objectivity Breach ( Means _Need_ Effects_ Covers/ Areas _ AP’s_ Adtr Do’s)_ Independence( Means _Need_ Effects_ Covers/ Areas _ AP’s_ Adtr Do’s)_ Confidentiality ( Means _Need_ Effects_ Covers/ Areas _ AP’s_ Adtr Do’s)_ Professional behavior ( Means _Need_ Effects_ Covers/ Areas _ AP’s_ Adtr Do’s)_ Competence & Care ( Means _Need_ Effects_ Covers/ Areas _ AP’s_ Adtr Do’s)_ Threat

Sources(9)_ Action for Corp. Govns (10)_ Fictitious Inventory Threats safeguards (132)_ High Regulatory Fee Taken ^ How Effects (200)_ Directors Personal Info Called ^ What2Do (201)_ Independent Regulation not Possible Why (208)_IAASB Passed Standards (211)_ Objectivity Affecting Factors (212)_ Loan Practice is a threat why (213)_ Adt Manager is Client Co Officer What Threat (214)_ Money Laundering Found What2 do (215)_ CoE for Qualified Members (257)

18.RAP :

AR Types (151) _ Highly geared co but No GCV found (152)_ Sales Over Stated (153+158+159)_ Cash sale Hide effect in AR (160) _ Asset Under Director Custody( 161) _ Depreciation not being charged (162) _ Long Dep not charged & if charge GCV would arise in one yr (163)_ Failed to Attain Inv count (164) _Inadequate Disclosure(156) _ Healthy AR Shout ^ What to Do(172)_ Co Expect Un-Modified AR ^ What 2Do(173)_ Other Auditor Said for Modified AR ^ What2Do (177)_ AR / Inv / Sales Decline Effect in AR (187)_ Directors Taken Advance in Name How AR may be Affected (191)_ MIS+30Days ^ How MIS Helpful(194) _ Premises Hit By Flood^ AR Affect (196)_ Fund Crisis ^ Adtr’s Dos (197 )_ .Defi_ Need_ Steps_ Typs_ Specific Item_ What (2 Insp_ Oserv_ Enqir)_ Purpose (50)_ AE’s From RAP (51)_ Issues (42)_ Level (30 & 41)_Factors 2 Consider for RAP(52) 19.ToC : Defi_ Cover_ Extent_ Assertion_ Nature_ When?_ Objective of ToC (220)_ 23. RPT Risks (192)_ MD Charged for Fraud ^ What Risks (193)_Risk at Payroll Process (229)_ Payroll Process is weak ^ What 2 Do (230) _ Business risk type_ How to find_ Mitigation ways 20.How(182)_New Client ^ How 2 Do KYC(186)_ AICS Material Info Streams (225)_ Payroll Process Weakness (230)_ Directors Resp for AICS (244)_ AICS Functions (245)_ AICS Possible Weakness (246)_ 29.Dr for Charity Co(58+59)_ Computer bases Adt Problem( 78+79)_ Sample selection methods(88)_ Assertions for RMM(89)_ Bank Deposit slip not given say risks(109)_ Bank Payment not ctrl ed properly say risks (110)_ Bank Interest related risk (111) _Market So volatile What is The Risk(165)_ Accepts Online Order What Risk(167)_Range of Goods Expanded What Risk _168)_Employee are mostly Relative What Risk(170)_ High Level of Borrowing^ What Risk (171)_New Audit Client^What2Do(172)_IR.Auditor Removal: Removal Procedure (128)_ Auditors Right for Independence (264) 34.AICS : Weakness Reason (45)_ AICS Undr Key Importance (39)_ Considerations(40)_ FS or BS areas of work (94)_ New Client Adt Pln Setting Steps (224)_ Procedures (62+82)_ AICS for Receipts (63)_ AICS for Order Processing (63)_ AICS for Cash (63)_ Ctrl Obj (64)_ Checking Sales System (65+96)_ Purchase Sys Error (66)_ AICS Error Reporting (67)_ RMM at CAPEX Sys (68)_ Wage Sys Error (69)_ AP’s for Ctr l Activity (72+73)_ Cash Sys Problems (81)_ Wage System Obj & Deficiency Effect (83)_ Perpetual Inv Sys Benefit (98)_ Audit Around / Thru PC (106+107)_ Computer sys not reliable when (108)_Why 2 do Adt Plan(37)_ AICS inadequate^ Adtr’s Do(169)_Though AICS is good IAD in Prob.Management Representation: Form_ 31.SPor AP : AP Defi_ AP Types_ AP Area_ AP ^SPQ's_ AP’s Obj_ AP's 4 TAD_ Factors_ What to set for AP_ Adt tests for ALIEC(60)_ AP’s for Ctrl Activity(72)_ AP’s for sample size(74)_ AP’s for OPEX & OPI verify (75+102)_ AP’s for A/Rcvable verify (76)_ AP’s for A/c Estimates (101)_ AP’s for Bank Recon (103+104)_ AP’s for Cash Audit(112)_ AP’s for Bank Loan (118)_ AP’s for accruals(119)_ AP’s for Sales Tax (126)_ AP’s for Dep (127)_ AP’s fir High Inventory Valued (129)_ AP’s for Fire Destroyed Inv(133)_ AP’s fo r Contaminated chemicals (136)_ AP’s for Adj in FS for Contaminated inventory (139+140)_ AP’s for GCA (144)_ AP for Subcontractor 4 Timely work Completion (195)_ Chief A/c is under UnAutho Tr.Sampling: How Reduce Sampling Risk (56) Fire Effect for FS (135)_ Format_ Areas / Covers_ Auditors Resp for WMR_ WMR uses (122) _30.CR.AR Preparation: Contaminated Inventory In FS (137+138)_ Adj Effect in FS(140)_ Event after FR (144+142)_ CFS forecast opinion (146)_ AR Elements (150) 35.SAAE : Mean_ Factors_ Suff Factors_ Appro Factors_ Insufficiency AE^ Adtr’s Actions(123)_Sufficiency Factors(114+121)_ 26.Adt SMT: Why_ What_ How_ Enables_ Factors _ Adt Strategy for BS Items(38)_ Purposes (61)_ 27. Say AP’s (198)_AP Setting Steps (221)_ FS prepared from Mgt A/c What AP’s 2 Take (226)_ AP’s if Chief A/c found Asst Abuse (247) SP for vehicles(97)_ SP for Inventory(99)_ SP for A/c Payable (115+120)_ SP for Accruals ( 116)_ SP for Legal Actions (117)_ Considerations for SP level Reduce (228)_ 24.AnP: Defi_ Use_ Servs as_ Purpose_ Factors_ Objectivity Covers_ Suitability Covers_ Reliability Covers_ Process_ CoRE Covers_ RE how?_ Factors to consider to use Anp As SP(86)_ Bank Statement is reliable why(105)_Why To do Preliminary AnP(185)_ AnP Benefits (270)_ AnP Drawbacks (271)_ AnP for Retail Chain Store (275) 22. Letter covers (93+113)_Defi Positive & Negative Circulation(91)_AP’s for AE Collection (147)_ RPT info Sources (190)_ 25.Adt Pln: Need_ Outcomes_ Process_ Factors_ Tasks_ Resources_ 28.Sampling: Sampling Risk Defi_ 32.AE : Mean_ Prin_ Sources_ Assertion Used_ AP used_ Typs_ Forms_ Techniq_ Q-Factor_ How AEIOU Help collect AE(46)_ Non Current Asset Assertions for AE(85)_ nCA Issues to discuss (95)_ A/C Estimate Areas (87)_ Bank Conf.AR Modification: Modified means(90)_ Positive / Negative means(91)_ Modi.Risk Assmt : Risk Factors_ Levels_ info sources_ Documentation ways_ Adt risk type_ Risk Sources_ IR areas(44)_ Audit Risk Means (27)_ Risk Treatment (31)_ A/R Related Risks (32)_ A/R Risk Avoid Ways (33)_ Adt Software using benefit (48+77)_ Sampling Risk (55)_ Non Sampling Risk (54)_ Sampling risk ctrl (57)_ IR.CR&DR Evaluation Info (178)_Unexpected Variance in Fin Ratio When (189)_ Family Business Tr.

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