ACCA考试《审计与认证业务F8》知识点(2).doc

高顿财经ACCA ACCA考试《审计与认证业务F8》知识点(2) 本文由高顿ACCA整理发布，转载请注明出处 　　RELEVANT TO ACCA QUALIFICATION PAPER F8 AND ? 　　PERFORMANCE OBJECTIVES 17 AND 18 ? 　　Audit risk ? 　　Candidates studying Paper F8, Audit and Assurance, are required under the ? 　　syllabus to: ‘Explain the components of audit risk and explain the risks of ? 　　material misstatement in the financial statements’。 ? 　　This element of the syllabus has been examined in the last three sessions of ? 　　Paper F8 – in June 2010, December 2010 and June 2011. However, the ? 　　performance of candidates has on the whole been unsatisfactory. This article ? 　　aims to identify the most common mistakes made by candidates as well as ? 　　clarifying how audit risk questions should be tackled in order to maximise ? 　　marks. ? 　　An example question requirement relating to audit risks is as follows: ? 　　Describe the audit risks and explain the auditor’s response to each risk in planning ? 　　the audit of XYZ Co. ? 　　Previously examined risk questions have carried a mark allocation of 10 marks. ? 　　However, a significant majority of candidates have not passed this part of the ? 　　question. Common mistakes made include: ? 　　? providing definitions of the audit risk model, even though this was not ? 　　part of the question requirement ? 　　? a lack of understanding of what audit risk is and providing business risks ? 　　instead ? 　　? not providing an adequate response to the risk. This needs to be from ? 　　the perspective of the auditor and not from management’s perspective ? 　　? a limited range of risks identified, often just focusing on one area such ? 　　as going concern. ? 　　Audit risk definitions ? 　　Audit risk is defined as ‘the risk that the auditor expresses an inappropriate ? 　　audit opinion when the financial statements are materially misstated. Audit ? 　　risk is a function of the risks of material misstatement and detection risk’。 ? 　　Hence, audit risk is made up of two components – risks of material ? 　　misstatement and detection r