ACCA F8 2016年3月試題詳解

　　Which of the following should be included in the overall audit strategy document？

　　（1）Economic factors and industry conditions affecting the company

　　（2）The nature, timing and extent of audit procedures

　　（3）Management's responsibility for the financial statements

　　（4）Determination of materiality in line with the ISAs

　　A、1，2 and 4

　　B、3 and 4

　　C、1 and 4 only

　　D、2 and 3

　　本題答案為C（1）和（4）

　　這個問題是2016年3月的一道試題，也是本次考試中難度較大的一道題目。

　　本題涉及的一個key point是關于ISA 300 Planning an Audit of Financial Statements中要求掌握的“the specific information and planning documents”。

　　關于Audit Planning，考生需要了解到的知識如下：

　　（1）Candidates are advised to understand the specific information and planning documents that ISA 300 Planning an Audit of Financial Statements requires the auditor to produce in the planning stage of the audit. The audit strategy document contains the general information relating to planning the audit such as the financial reporting framework, industry specific reporting requirements and materiality considerations. The audit strategy document then guides the development of the audit plan； a much more detailed document that includes specific guidance on, for example, timetables, staff allocations and audit procedures.

　　（2）在整個審計計劃過程中，審計師的目標是：

　　devote appropriate attention to important areas；

　　identify potential problems and resolve on a timely basis；

　　organise and manage the engagement in an effective and efficient way； and

　　assist in assigning appropriate staff to the audit, directing and supervising them then finally reviewing their work.

　　（3）The documentation of the audit plan must be sufficient to demonstrate the planned nature, timing and extent of：

　　the risk assessment procedures；

　　the audit procedures （e.g. tests of controls, substantive tests, analytical review procedures, going concern, review and completion） to be carried out on each material class of transaction, account balance and disclosures in response to the assessed risks; and

　　the planning procedures themselves.

　　Standard, pre-printed audit programmes and audit completion checklists are often used. However, such programmes and checklists must be tailored to each client's circumstances.

　　（4）本題中各選項的具體分析如下：

　　（1） and （4） would be found in the audit strategy document as assessing the economic factors and industry conditions and also determining materiality are part of establishing the overall audit strategy.

　　（2） The detail of the audit procedures for each material class of transactions, account balance or disclosure would be included in the audit plan

　　（3） Confirmation of management's responsibility for the financial statements is contained in the letter of engagement.

　　Therefore the correct answer is C （1 and 4 only）

　　Future candidates should therefore understand the specific information included in both the audit strategy and the audit plan documents, as well as the matters included in an engagement letter.