ACCA F8 - Acceptance Stage: Audit and assurance

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Link: https://www.patreon.com/posts/acca-f9... This is the 1st video in the series of nine. Covering part B: - Planning and risk assessment of ACCA's F8 - Audit and Assurance paper including:

1. The acceptance stage: “Obtaining, accepting and continuing audit engagements.”
2. Engagement letter: “Obtaining, accepting and continuing audit engagements.”
3. Audit risk: “Assessing audit risks.”
4. Identifying Audit risk: “Assessing audit risks.”
5. “Laws and regulations”
6. “Fraud”
7. “Planning process”
8. "Audit documentation"
9. “Quality Control”


Watch full playlist here:    • AA [F8] - B: Planning and risk assess...  

Download ACCA F8 2022 - 2033 syllabus here: https://www.accaglobal.com/in/en/stud...
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After watching this video, you will be able to:

In video one: - The acceptance stage:    • ACCA F8 - Acceptance Stage: Audit and...  

a) [06:08] “Discuss the requirements of professional ethics and ISAs in relation to the acceptance / continuance of audit engagements.”
b) [01:38] “Explain the preconditions for an audit.”
c) [00:16] “Explain the process by which an auditor obtains an audit engagement.”

In video two: - Engagement letter:

d) “Discuss the importance of engagement letters and their contents.”

In video three: - Quality Control:    • ACCA F8 - Quality Control | #acca #Au...  

e) “Explain the overall objectives and importance of quality control procedures in conducting an audit.”
f) “Explain the quality control procedures that should be in place over engagement performance, monitoring quality and compliance with ethical requirements.”

This video only covers learning objective a) to c). For a complete coverage of this topic check this video here: -
Video 2. Engagement letter | learning objective d):    • ACCA F8 - Engagement Letter | #Auditi...  
Video 3. Quality Control | learning objective (e) to (f) :    • ACCA F8 - Quality Control | #acca #Au...  

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Video contents:
00:00 – Intro
00:16 – Existing or New client?
00:34 – Methods to gain new clients.
01:24 – Considerations not to accept a new client.
01:39 – Preconditions of an audit.
02:48 – Any other considerations.
03:27 – Professional reasons not to accept audit.
04:02 – Confidentiality.
04:25 – Auditor considerations.
05:38 – Audit risk consideration.
06:10 – Ethical consideration.
06:42 – Ethical threats to objectivity.
07:31 - End

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