ACCA F8 AA Audit and Assurance (AA) 笔记(二)

ACCA

F8

AA

Audit

and

Assurance

(AA)

笔

记

（二）

今天整理

Threats

and

safeguard

toi ndependence

的题目，同样是

需要分两栏，分别写出

threats

和

safeguard

这部分我们练四道题：

2013 Dec Q4 (c)

题目让我们找五个

ethical

risks

和对应的

safegua rds

，与昨天介绍

的

recomme ndations

要对应

weakness

< br>一样，

safeguards

也要做到

具体且有针对性。

考试时 记得要分两栏写，这里为了方面大家看就

用蓝色

Ethical

risk

黑色写

Steps to reduce the risks

1.

Salt

&

Pepper

has

guaranteed

that

their

audit

will

not

last

longerthan

two

weeks

and

will

minimize

disruption

to

companies,

which

will

bringaudits

difficulties

to

gather

sufficient

and

appropriate audit evidence

（记 得加上分析部分！把后果

/

会出现的

r isk

类型写上）

Salt & Pepper should cease thisadvertising campaign immediately as

it is not in compliance with ACCA’s Code ofEthics and Conduct. The

firm

should

inform

the

clients

that

the

audit

durationwill

be

based

on the level of audit risk present

2.

Salt

&

Pepper

has

offered

all

new

audit

clients

a

free

accountspreparation

service

for

the

first

year

of

the

engagement,

which willincrease the risk of self- review

Salt

&

Pepper

must

ensure

that

thiswork

is

undertaken

by

a

team

separate to the audit team.

3.

The

firm

is

not

updating

engagement

letters

for

existing

clients,

sothe

engagement

letters

will

not

be

reviewed

to

ensure

that

they

are stillrelevant and up to date.

Salt &

Pepper

should comply

fully

withISA 210 and annually review

the need for revising the engagement letters.

4.

An

existing

client

of

Salt

&

Pepper

has

proposed

an

audit

feebased on a percentage

of

the client’s

final pre

-tax profit.

This is

acontingent

fee

arrangement

and

is

prohibited

as

it

creates

a

self-

interestthreat.

Salt

&

Pepper

should

politely

declinethe

proposed

contingent

fee

arrangement and inform the client that the feeswill be based on the

level

of

work

required

to

obtain

sufficient

andappropriate

audit

evidence.

5.

Salt

&

Pepper

intends

to

use

junior

staff

for

the

audit

of

their

newclient

as

the

timing

of

the

audit

is

when

the

firm

is

very

busy.

Junior

staffmay not

be

competent enough and the risk

of giving

an

incorrect audit opinionis increased.

Salt & Pepper should try to increasethe amount of experienced team

members.

If

this

is

not

possible,

they

shoulddiscuss

with

the

directors

of

Cinnamon

to

see

whether

the

timing

of

the

auditcould

be changed.

6.

Salt

&

Pepper

has

n

ot

contacted

Cinnamon’s

previous

auditors.

Inthis

way

Salt

&

Pepper

cannot

know

the

reasons

why

Cinnamon

changed

their

may

have

been

acting

unethically

and

their previous auditors thereforerefused to continue.

Salt

&

Pepper

should

contact

theprevious

auditors

to

identify

if

there

are

any

ethical

issues

which

wouldprevent

them

from

acting

as auditors of Cinnamon.

2014 Specimen Q1 (a)

没有说明找几点的，一般是一分一点。

蓝色为

Ethical risk

黑色为

Steps to reduce the risks

1.

Remy’s

partner

has

been

involved

in

the

audit

of

Hazard

Co

for

sixyears

and

hence

may

not

maintain

her

professional

skepticism

and objectivity,and familiarity threat arises.

ACCA’s

Code

of

Ethics

and

Conductrecommends

that

engagement

partners

rotate

off

an

audit

after

five

years

forlisted

and

public

interest

entities.

Therefore

consideration

should

be

given

toappointing an alternative audit partner

2.

The

engagement

partner’s

son

has

accepted

a

job

as

a

sales

manager atHazard Co. This could represent a self- interest/familiarity

threat

Whether

a

sales

manager

can

affect

thefinancial

statement

should

be

considered.

If

it

was

believed

that

additionalsafeguards

were

required

then

consideration

should

be

given

to

appointing

an

alternativeaudit partner.

3.

The

partner’s

son,

an

immediate

family

member

o

f

the

partner,

willreceive shares as part of his remuneration. A self-interest threat

can arisewhen an audit firm has a financial interest in the company.

The engagement partner will need to be removedfrom the audit.

4.

A

self-review

threat

can

arise

when

an

audit

firm

provides

an

internalaudit service to an audit client.

Remy & Co should ensure that the auditteam is not involved in the

internal audit service and

also

ensure

client

staff

remain

responsiblefor

the

internal

audit

activities.

5.

Hence

Hazard’s

request

that

20%

of

the

external

audit

fee

is

based onprofit after tax

would represent a contingent fee, which is

prohibited byACCA’s Code of Ethics and Conduct.

The external audit fee needs to be based onthe time spent and level

of work performed

2015 June Q1