ACCT3708 Comprehensive DISTINCTION Final Exam Notes

Description

These DISTINCTION notes provide a detailed overview of the entire terms course content. By reading and studying these notes, which were compiled with reference to weekly prescribed textbook readings, the case book, lecture slides and seminar content, you will be able to deepen your understanding of the ACCT3708 course concepts and hopefully improve your final results. Content included: Topic 1: Introduction to the Audit Function, Assurance Framework, Regulation of Audits, Audit Risk Model, Client Acceptance and Engagement Letters Topic 2: Audit Assertions, Materiality & Business Risk Topic 3: Internal Control I: Control Environment & Manual Controls Topic 4: Internal Control II: Internal Controls in an IT Environment Topic 5: Internal Control III: Tests of Controls & Communication with Management Topic 6: Substantive Testing I: Audit Evidence, Tests of Detail & Audit Sampling Topic 7: Substantive Testing II: Tests of Detail in IT Systems, Substantive Analytical Procedures, Subsequent Events and Going Concern Topic 8: Ethics, Auditor Negligence & Fraud Topic 9: Audit Reporting At the end of the document I have also included the concise templates which I created in preparation for the final exam. These provide model sample responses to the various different questions which were assessed in the final and neatly demonstrate the way in which the course concepts covered throughout the term link together. The templates saved me a lot of time during the final exam as they summarised all the essential information in a few pages and contained page references to the above note set where applicable.