Examples of Circumstances that may indicate of fraud in Financial

Statements
Two types of Control: Detective Controls Specific Materiality

Preventive Controls Variance Analysis Tie-In Analysis

Financial Statement Analysis Understanding Fraud Risks

Types of Intentional Misstatements (Fraud) Performance

Materiality
Assessing Related Parties Conducting Final Risk Assessment

Quantitative Materiality Thresholds / Maximum Errors

Quantitative Calculating Materiality
Materiality
 Preliminary assessment of control risk is based on NOTE:
the ff:
Factors that may affect inherent risk assessment:

COA Audit Framework NOTE:

NOTE:
Additional Information:
Updating the Understanding of the AICS
Additional Information:
Additional Information: Control Environment
Ethics and Risk Assessment Monitoring
Independence
Section 1: Preliminary Engagement Activities
Preliminary Engagement Activities will involve:

II. Ensuring Engagement Team’s Independence and Compliance

with the Ethical Standards
I. Defining the terms of Audit Control Risks

B. Establishing the Terms of Detection Risks

Engagement
A. Communicating the Terms of Inherent Risks
Engagement
Section 2: Planning Phase Three Components of Audit
Risks:
Differences
Planning Activities involve the following steps:
Additional Information:
II. Preparing the Overall Audit
Additional Information:
Strategy
I. Conducting Preliminary Risk
Assessment Control Activities
Understanding the Audit Entity
Information &
Control Design may be tested in the ff manner:
Additional Information: