ACCA F8 - The Audit Report |

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Link: https://www.patreon.com/posts/acca-f9... This is the 5th video in the series of Five [5] covering syllabus E of ACCA’s F8 – Audit and Assurance including:
1. Subsequent events
2. Going concern
3. Written representations
4. Audit finalization and the final review
5. The Independent Auditor’s Report

Watch full playlist here:    • AA [F8] - E: Review and reporting  

Download ACCA F8 2022 - 2033 syllabus here: https://www.accaglobal.com/in/en/stud...
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On successful completion of this video, you will be able to:
Video 1. Subsequent events
a) Explain the purpose of a subsequent events review.
b) Explain the responsibilities of auditors regarding subsequent events.
c) Discuss the procedures to be undertaken in performing a subsequent events review.

Video 2. Going concern
a) Define and discuss the significance of the concept of going concern.
b) Explain the importance of and the need for going concern reviews.
c) Explain the respective responsibilities of auditors and management regarding going concern.
d) Identify and explain potential indicators that an entity is not a going concern.
e) Discuss the procedures to be applied in performing going concern reviews.
f) Discuss the disclosure requirements in relation to going concern issues.
g) Discuss the reporting implications of the findings of going concern reviews.

Video 3. Written representations
a) Explain the purpose of and procedure for obtaining written representations.
b) Discuss the quality and reliability of written representations as audit evidence.
c) Discuss the circumstances where written representations are necessary and the matters on which representations are commonly obtained.
Video 4. Audit finalization and the final review
a) Discuss the importance of the overall review in ensuring that sufficient, appropriate evidence has been obtained.
b) Describe procedures an auditor should perform in conducting their overall review of financial statements.
c) Explain the significance of uncorrected misstatements.
d) Evaluate the effect of dealing with uncorrected misstatements.
Video 5. The Independent Auditor’s Report - [this video]
a) Identify and describe the basic elements contained in the independent auditor’s report.
b) Explain unmodified audit opinions in the auditor’s report.
c) Explain the circumstances in which a modified audit opinion may be issued in the auditor’s report.
d) Explain the impact on the auditor’s report when a modified opinion is issued.
e) Describe the format and content of key audit matters, emphasis of matter and other matter paragraphs.

Video chapters
00:00 - intro
00:04 – The audit report
01:18 – Identify and describe the basic elements contained in the independent auditor’s report.
04:44 – Explain unmodified audit opinions in the auditor’s report.
05:18 – Explain the circumstances in which a modified audit opinion may be issued in the auditor’s report


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Transcript:


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