ACCA F8 Audit and Assurance course outline

Three (3) 65 mark assignments and One (1) Mock 100 marks

54 hours course modules

18 hours revision

Focus exam notes





Module 1

18 hours













Test 1

2 hours

65 marks












External Audits

Section A: Audit Framework and Regulations

  • Concept of audit and assurance engagements, regulations for external audits which includes ISAs, corporate governance, statutory regulations and professional code of ethics.  
  • Internal audit and governance, and the differences between external and internal audit

Section B: Planning and Risk Assessment

  • Obtaining and accepting audit engagements
  • Assessing Audit risks – Components of audit risks, explain audit risks in FS and explain auditors’ response to each risk
  • Risk assessment procedures for identification and assessing risks through understanding the entity and its environment, including its internal controls ( covered under Sec C)

i)                   mainly the use of analytical procedures in planning and the use of key ratios (calculate and interpret)

  • The concept of materiality at planning stage


Module 2

18 hours
















Test 2

2 hours

65 marks















Section B: Planning and Risk assessment(Cont’d)

  • Auditor responsibilities – fraud and laws and regulations, communication with those charged with governance
  • Audit planning and Documentation: Audit strategy vs Audit Plan – contents and differences

Section C: Internal Controls

  • Explain why auditors need to understand internal control relevant to an audit
  • FIVE components of Internal controls
  • Describe IT controls – general and application controls
  • Limitations of IC
  • How auditors record internal control systems of an organization – narrative notes, flowcharts, ICQs & ICEQs

Section D: Audit Evidence

  • Concept of sufficient appropriate audit evidence-Quality vs Quantity, Relevance and reliability
  • Difference between TOC and Substantive procedures
  • The use of assertions by auditors and audit procedures
  • Other aspects in collecting audit evidence – Audit sampling, Using the work of others
  • Performing Tests of controls (covered in Sec C) and Substantive procedures


Module 3

18 hours







Test 3

2 hours

65 marks






Section D: Audit Evidence(Cont’d)

  • Using Computer Assisted Audit Techniques(CAATs)
  • Not-for-profit organisations

Section E: Review and Reporting

  • Subsequent events, going concern review and written representations,
  • Audit finalization and final review
  • Audit Reports


Revision Module

18 hours



Mock exam

3 hours

100 marks


Student will be examined from Section A-E of the syllabus

  • Focus on areas to be examined in the upcoming exam – students will be given an analysis of topics that could be examined



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