ACCA P7 重点复习题目

1. Detailed topics and questions

(1)Internal audit and outsourcing – 2010.6 Q2

(2)Group audits, joint audit and transnational audit - 2012.12 Q2; 2009.6 Q2

(3)Audit risks of consolidated financial statement, reliance on audit work of components, associates – 2010.6 Q1

(4)Other specific accounting issues: Disclosures; Revenue recognition and construction contract; Inventory; Government grant; Foreign exchange rate; share-based payment; borrowing cost; employment benefits; and so on.

(5)Subsequent events – 2009.12 Q5

(6)Opening balance – 2011.6 Q3;

(7)Other information – 2013.6 Q5; 2015.6 Q5;

(8)Comparative financial information audit (看讲义相关部分的要求)

(9)Law and regulations – 2015.6 Q2

(10)Professional skepticism – 2015.6 Q3

(11)Ethical and practical issues – 2013.12 Q4

(12)Due diligence – 2013.12 Q2

(13)Social and environment auditing – 2014.12 Q3 and 2010.12 Q2

2. Necessary focus points for 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

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

(3)Specific 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)

(5)Group auditing: (10-15 marks)

Other areas which are likely examined

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

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