Necessary focus points for each sitting

 

　　Topics which are certain to be examined in each sitting (about 80-100 marks)

 

　　① Ethical/professional/practice issues: (15 marks)

 

　　-Ethical issues: independence threats and safeguards;

 

　　- Professional issues: auditor’s professional liability under statute law and tort law;

 

　　- Practices issues: advertising, tendering, publicity, obtaining professional work and fees, professional appointments, quality control

 

　　②Identification and explanation of audit risk or/and business risk (15 marks)

 

　　③Specific accounting issues about items in FSs, i.e. evaluation and review (i) (ii) (iii): risks, materiality, specific accounting standards, audit procedures, impact on audit report. (40 marks)

 

　　④ Audit-related service or other assurance service: interim financial information review; due diligence; PFI; forensic auditing; social and environment auditing; internal auditing. (10 marks)

 

　　⑤Group auditing: (10-15 marks)

 

　　Other areas which are likely examined

 

　　①Regulatory environment: corporate governance code; money laundering; law and regulations

 

　　② Current issues and development: auditor’s responsibility about these issues

 

　　Detailed topics and questions for 2015.12 sitting

 

　　①Money laundering and PFI - 2014.6 Q2

 

　　②Going concern, ethical issues, audit opinion and report – 2011.6 Q2;

 

　　③Construction contract, discontinued operation, related party transactions – 2011.6 Q1

 

　　④Audit risks of consolidated financial statement, reliance on audit work of components, associates, grant – 2010.6 Q1

 

　　⑤Group audits, joint audit and transnational audit - 2012.12 Q2; 2009.6 Q2

 

　　⑥Audit report, emphasis of matter paragraph and other matter paragraph – 2010.6 Q5

 

　　⑦Other specific accounting issues: share-based payment; borrowing cost; government grant; employment benefits; segment reporting; deferred tax