2011年ACCA考试F8模拟试题（1）

　　一.应收帐款及应付帐款在全年均维持在一个稳定的水平。

　　Fundamentals Level – Skills Module, Paper F8

　　1 (a) Audit strategy document

　　Section of document Purpose Example from B-Star

　　Understanding the entity’s environment Provides details of the industry area that Size of the theme park sector and

　　the company is in along with specific expected growth over the next few years.

　　information about the activities and

　　strategies of the individual client.

　　Understand the accounting and internal Details of accounting policies of the Accounting policy for sales – sales are

　　control systems client and previous assessments of stated net of sales taxes.

　　internal control systems indicating the

　　Reliance on control systems in B-Star

　　expected extent of reliance on those

　　may be limited due to lack of

　　systems.

　　documentation of controls.

　　Risk and materiality The assessment of risk for the client and Materiality for sales to be 5% of turnover.

　　the risk of fraud and error and the

　　B-Star receives cash sales – audit work

　　identification of significant audit areas.

　　required to determine the completeness

　　The materiality level for audit planning of sales.

　　purposes.

　　Timing and extent of audit procedures Details of the focus on audit work on Audit software could be used to provide

　　specific areas. Detail on the extent of use analytical procedures on the sales of

　　of audit software and possible reliance B-Star

　　on internal audit.

　　Co-ordination, supervision and review of Details the extent of involvement of B-Star has only one location – audit staff

　　audit work experts, client locations and staffing will be required to work there for X

　　requirements for the audit. weeks.

　　(b) (i) Risk affecting completeness

　　– The computer system does not record sales accurately and/or information is lost or transferred incorrectly from the

　　ticket office computer to the accounts department computer.

　　– Cash sales are not recorded in the cash book; cash is stolen by the accounts clerks.

　　– Tickets are issued but no payment is received – that is the sale is not recorded.

　　– Cash is removed by the ticket office personnel, by the security guards or by the account clerks.

　　– The account clerks miscount the amount of cash received from a ticket office.

　　(ii) Use of tests of controls and substantive procedures

　　Tests of controls

　　Tests of control are designed to ensure that documented controls are operating effectively. If controls over the

　　completeness of income were expected to operate correctly, then the auditor would test those controls.

　　In B-Star, while controls could be in operation, e.g. the account clerks agreeing physical cash to computer summaries,

　　there is no indication that the control is documented; that is the computer summary is not signed to show the

　　comparison has taken place. The auditor could use the test of inquiry – asking the clerks whether the control has been

　　used, and observation – actually watching the clerks carry out the controls. As noted above though, lack of

　　documentation of the control does mean relying on tests of control for the assertion completeness of income has limited

　　value.

　　Substantive procedures

　　Substantive procedures include analytical procedures and other procedures.

　　Analytical procedures include the analysis of significant ratios and trends and subsequent investigation of any trends or

　　relationships that appear to be abnormal. These procedures can be used effectively in B-Star as an approximation of

　　income that can be obtained from sources other than the cash receipt records.

　　Other procedures, or tests of detail, are normally used to verify statement of financial position assertions and include

　　obtaining audit evidence relevant to specific assertions. However, they could be used in B-Star to trace individual

　　transactions through the sales/cash systems to ensure all ticket sales have been recorded (completeness assertion). The

　　use of other procedures will be time consuming.