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Audit framework Link Title, ACCA, IFAC Code, Link Title, Link…

- - - - advantage
        
        Improve the quality of financial reporting
        
        reduce the opportunity for fraud.
    - - example
  - - - help auditor to understand audit-related matters in
        context
      - obtain information
      - reducing the risks
- - - - Report the assignment
      - Exit Meeting
      - Come out Final Report
      - Distribution the Report
    - - give response
  - - - Identify Risks
      - Implement strategy
      - Determine Company Policy
  - - - adequacy and effectiveness
- - - - two types of assurance engagements
        
        who is measuring, or evaluating
        
        attestation engagements
        
        direct engagements
    - - Financial, operational and procurement audits
        
        Best value audits
        
        Value for money (VFM) audits
        
        information technology (IT) audit
  - - - auditor's financial statement - truth and fairnes
        
        financial statements
        
        free from bias
        
        Reflect the commercial substance of the business's transactions
        
        factual
    - - give reasonable assurance to financial statements
  - - - give a point
        
        non-statutory audit
        
        any function of an organization
        
        statutory audits
        
        financial activities
  - - - Five elements - CRREST Link
        
        Subject matter
        
        Three party relationship
        
        Evidence
        
        Report
        
        Criteria
      - objective - level of assurance give
        
        Reasonable assurance engagements (hight)
        
        Limited assurance engagements （limited with）
        
        timing
        
        extent
        
        the nature
- - - - FIVE
        
        Integrity
        
        Objectivity
        
        Threats to objectivity and independence
        
        The advocacy threat
        
        The familiarity of trust threat
        
        Self-review threat
        
        The intimidation threat
        
        Self-interest threat
        
        Confidentiality
        
        Professional behaviour
        
        Professional competence ＆ due care
      - Conflicts of interest
      - Enforcement mechanisms
    - - Engagement letter
      - Recurring audits
      - Preconditions
      - Acceptance of a change in terms
    - - Tendring ＆ obtaining work
      - Continuance assessments
      - Approval
      - Appointment ethics
      - Client screening
  - - - Engagement performance
        
        Monitoring
    - - Acceptance of client relationships ＆ specific audit engagement
        
        Assignment of engagement teams
        
        Ethical requirements
        
        Engagement performance
        
        Leadership responsibilities
        
        Monitoring