Compilation of PYQ by Chapter (250122)

SET:
COMPILATION
OF PAST YEAR
QUESTIONS "Hard work
BY
will never
betray you so
CHAPTER
give your best
everyday!"
"Hard work beats talent

when talent doesn't work
hard"
TUTOR: MISS AMANI

TUTOR: MISS AMANI SUPIAN
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Contents
CHAPTER 1: INTERNATIONAL REGULATORY ENVIRONMENT FOR AUDIT AND ASSURANCE SERVICES .... 3
CHAPTER 2: CODE OF ETHICS AND CONDUCT ............................................................................................. 5
CHAPTER 3: FRAUD AND PROFESSIONAL LIABILITY .................................................................................... 8
CHAPTER 4: QUALITY CONTROL ................................................................................................................... 9
CHAPTER 5: OBTAINING AND ACCEPTING PROFESSIONAL APPOINTMENTS ........................................... 10
CHAPTER 6: PLANNING AND RISK ASSESSMENT ....................................................................................... 11
CHAPTER 7: EVIDENCE ................................................................................................................................ 14
CHAPTER 8: EVALUATION AND REVIEW – MATTERS RELATING TO SPECIFIC ACCOUNTING ISSUES ...... 18
CHAPTER 9: GROUP AUDITS AND TRANSNATIONAL AUDITS ................................................................... 21
CHAPTER 10: COMPLETION ........................................................................................................................ 23
CHAPTER 11: REPORTING ........................................................................................................................... 24
CHAPTER 12: AUDIT-RELATED SERVICES AND OTHER ASSURANCE SERVICES ......................................... 27
CHAPTER 13: PROSPECTIVE FINANCIAL INFORMATIONS ......................................................................... 29
CHAPTER 14: FORENSIC AUDITS ................................................................................................................ 30
CHAPTER 15: SOCIAL, ENVIRONMENT AND PUBLIC SECTOR AUDITING .................................................. 31
CHAPTER 16: CURRENT ISSUES .................................................................................................................. 32
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CHAPTER 1: INTERNATIONAL REGULATORY ENVIRONMENT FOR AUDIT

AND ASSURANCE SERVICES
No. Past Year Question Remarks
Money Laundering
1 Definition & Examples
D07 Q4(a)
D09 Q2(c)(i)
2 Policies & Procedures (AMLA)

D09 Q2(c)(ii)
J14 Q2(b)(ii)
D18 Q3(a)(i)
3 Stage/indicator of money laundering

J14 Q2(b)(i)
D18 Q3(a)(ii)
4 Implication
J12 Q3(a)(i)
MJ16 Q3(b)(i)
5 Nature of reporting
J12 Q3(a)(ii)
6 Customer due diligence (CDD)/Know your client (KYC)

D07 Q4(a)
MJ18 Q2(a)(ii)
NOCLAR
1 J09 Q4(b)(i)
2 J12 Q4(b)
3 D13 Q3(b) Responsibility, action
4 J15 Q2(b) Implication
5 MJ17 Q3(a) Identify, explain, action
6 SD17 Q1(c)(i) Implication
7 MJ19 Q1(d) Implication
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Audit committee
1 J10 Q2(d)(ii) Advantage, Disadvantage
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CHAPTER 2: CODE OF ETHICS AND CONDUCT

1 D07 Q4(c) - Incentive to auditor
- Attend client’s office party
2 D07 Q4(b)* - Review financial information tech
system
3 J08 Q5(b) - Typing FS
4 J08 Q4* - Overdue fee
- Business transaction
- Referral fee
5 D08 Q4* - Business arrangement
- Recruitment service
- Staff secondment
6 D08 Q2(c) - Forensic Service
7 J09 Q4(b)(ii) - COI
8 J09 Q4(a) - Definition professional
competence & due care
- How to comply
9 D09 Q4(b)* - Intimidation
- Lowballing
10 J10 Q4* - Valuation service
- Family relationship
- Custodial services
- Referral fee
11 J10 Q3(b)(ii)* - Advice on PFI
- Attend meeting w bank
12 D10 Q4(b) - Long association
- Adv & Dis audit firm rotation
13 D10 Q4(a)(ii)* - Corporate finance
- Contingent fee
14 D11 Q4(c) - Argument for and against
prohibition of non-audit services
15 D11 Q4(a)* - Forensic investigation
16 J12 Q4(a)* - Business arrangement
17 J12 Q1(b) - Attend board meeting
- Staff secondment
- Recruitment service
18 D12 Q3(b)* - Performance evaluation
- Internal audit service
19 D12 Q1(a)(iii) - Employment with client
- Contingent fee
20 J13 Q2(a)* - Tax computation
- Tax planning
21 J13 Q1(b) - COI
- Corporate finance
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22 S13 Q4* - Business advice

- Attend meeting
- Threat of removal from office
- Valuation service
23 J14 Q4(d)* - Business opportunity
24 J14 Q4(c)* - COI
25 D14 Q4(b) - Long association
26 D14 Q1(d) - Bank guarantee
- Advice on new accounting system
27 J15 Q4* - Fee pressure
- Client joint audit firm
- Hold shares in client
- Cross-selling
28 J15 Q2(b)* - Aggressive attitude
29 D15 Q4* - Advertisement
- Threat to seek alternative auditor
- Overdue fees
- COI
30 MJ16 Q4(b)* - Internal control
31 MJ16 Q2* - Family member provides non audit
service to audit client
- Integrity issue
32 MJ16 Q1(c) - Tax advice on tax investigation
- Liaise with tax authorities
- Serve on audit committee
33 SD16 Q5(a)(i)* - Recruitment
34 SD16 Q4(b)* - Evidence obtained
- Request not to modify
35 MJ17 Q3(a)* - Aggressive attitude
36 SD17 Q4(a)* - Audit
- Bookkeeping
- Payroll
- Tax computation
- Tax advice
37 SD17 Q4(b)* - Audit
- Tax
38 SD17 Q4(c)* - Valuation services
- COI
39 SD17 Q3(b) - Attend meeting with bank
- Review engagement
40 MJ18 Q3 - Family relationship
- Tax computation
41 MJ18 Q2(a) - Review engagement
- Tax planning advice
42 S18 Q2(b)* - Loan to member of audit team
- Temporary staff assignment
43 S18 Q1(d)* - Integrated report
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44 D18 Q3(b)* - Taxation services

- Website and online sales system
- Office party
45 SD19 Q1(d) - Partner to serve on audit
committee
- Referral fee
- Internal audit
46 M20 Q3(b) - Long association of audit partner
- Fee dependence
- Provision of bookkeeping and
accounting services
- Share prospectus
47 M20 Q1(b)(i) - Payroll service
48 SD20 Q2(a) - Long association of audit partner
- Size of non-audit fee
49 MJ21 Q1(d) - Assurance on KPIs
- Not to investigate incentive
payment
*represents the PYQ consists other question requirements as well
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CHAPTER 3: FRAUD AND PROFESSIONAL LIABILITY
Fraud
1 Implication on completion of audit
M20 Q2(a)(i)
2 Deficiency, how it contributes to fraud,

recommendation
SD19 Q3(b)(ii)
3 Detect/Uncover/risk of fraud
D12 Q4(a)
MJ16 Q3(a)
D18 Q1(e)
SD19 Q3(c)
4 Responsibility
J10 Q2(d)(i)
5 Definition, Examples
J09 Q5(a)
Professional Liability
1 J08 Q5(c) Liability disclaimer paragraph
2 J10 Q5(b) Limitation of liability
3 J10 Q3(a) Firm should accept blame?
4 J13 Q4(a) Whether firm liable?
Professional Skepticism
1 J12 Q3(b) Definition, action
2 J15 Q3(b) How to apply
3 J15 Q3(a) Definition, Importance
4 SD16 Q4(a) How to apply
5 MJ18 Q1(a)(ii) Matter to approach
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CHAPTER 4: QUALITY CONTROL
Single entity
1 J08 Q3(c)
2 D09 Q2(b)
3 D11 Q1(b)*
4 D14 Q5(a)*
5 J15 Q4*
6 MJ16 Q2*
7 MJ18 Q3
8 S18 Q3(b)*
9 SD 20 Q2(a)*
Group entity
1 J13 Q2(a)*
2 MJ17 Q2(i)
3 MJ 21 Q2
Quality control procedures

1 D07 Q1(c)(ii) Problem to implement
2 D07 Q1(c)(i) QC procedures
3 D12 Q5(a)(ii) QC procedures
4 D15 Q5(c) QC procedures
EQCR
1 J09 Q5(c) Who eligible?
*represents the PYQ consists other question requirements as well
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CHAPTER 5: OBTAINING AND ACCEPTING PROFESSIONAL APPOINTMENTS
Advertisement
1 D09 Q4(b)(ii)
2 D10 Q4(a)(i)
3 D15 Q4(a)
Tendering
1 J09 Q2(b) Tender document
2 D12 Q3(a) Tender document
3 D13 Q4(a)
4 D14 Q4(a)(i) Tender document
Basis for fee

1 D14 Q4(a)(ii)
CAP Audit – Single entity

1 J08 Q1(c)
2 J11 Q3(a)
3 D18 Q1(d)
CAP Audit – Group entity

1 J09 Q2(c)
2 SD 20 Q2(b)
Why firm not seeking re-election

1 J09 Q2(a)
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CHAPTER 6: PLANNING AND RISK ASSESSMENT
Risk Of Material Misstatement – Single Entity

1 J08 Q1(b)(ii) Medical instrument
2 D08 Q1(a) Hotel
3 D09 Q1(d) Supermarket
4 D10 Q1(a) Retail clothing
5 J11 Q1(a)(i) Property development
6 D12 Q1(a)(ii) Electrical equipment
7 D14 Q1(b) Pharmaceutical
8 D18 Q1(a) Sport & leisure centres
9 MJ19 Q1(a) Agriculture
Risk Of Material Misstatement – Group Entity

1 J12 Q1(a)(ii) Pottery
2 D13 Q1(a) Car manufacturer
3 SD17 Q1(b) Hotel
Audit Risk – Group Entity

1 J14 Q1(a)(i) Textile
2 MJ18 Q1(a)(i) Publisher
3 SD19 Q1(a) Restaurant, Coffee Shop, Hotel
4 M20 Q1(a) Internet television network
5 SD 20 Q1(a) Travel via cruise
Audit Risk – Single Entity

1 D07 Q1(a) Manufacture machine
2 J10 Q1(a) Various
3 J15 Q1(b) Design & develop games
4 D15 Q1(a)(i) Design & manufacture machine
5 SD16 Q1(a) Telecommunication provider
6 MJ 21 Q1(b) Timber
Analytical Procedures
1 D11 Q1(a)(i) Electrical appliances
2 J13 Q1(a) Cosmetic & beauty product
3 MJ16 Q1(b) Distribution, warehousing
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4 MJ17 Q1(a) Cosmetic & beauty product

5 S18 Q1(a) Distribution, logistic
Business Risk
1 J08 Q1(a) Medical instrument
2 J09 Q1(b) Restaurant
3 D10 Q1(a) Retail clothing
4 D12 Q1(a)(i) Electrical equipment
5 D14 Q1(a) Pharmaceutical
6 SD17 Q1(a) Hotel
7 D18 Q1(a) Sport & leisure centres
8 MJ 21 Q1(a) Timber
Others
1 Additional Information:
D09 Q1(c) For detailed PAR
J13 Q1(a) To evaluate audit risk
D13 Q1(a)(ii) To evaluate RMM
J14 Q1(a)(ii) To evaluate audit risk
D14 Q3(a)(i) To audit land
D15 Q1(a)(ii) To evaluate audit risk
MJ17 Q1(b) For detailed PAR
SD19 Q1(b) To audit disposal of subsidiary
2 Implication/MTC on audit planning

J13 Q4(b) Forward exchange contract
J15 Q1(a) Initial audit engagement
SD17 Q1(c)(i) - Restrict access to evidence
- Integrity of client
- NOCLAR
MJ 21 Q1(d) - Assurance on KPIs
- KPIs fee to be combined with audit
- Incentive payment
3 Preliminary Analytical Review (PAR)

D09 Q1(a)(i) Why perform PAR
MJ16 Q1(a) Why perform PAR
D09 Q1(a)(ii) Limitation of PAR
4 Definition/relationship BR w RMM
J08 Q1(b)(i)
J14 Q4(a)
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5 Evaluation audit planning

J11 Q1(a)(ii)
6 Audit strategy & Audit plan

D09 Q1(b) Differentiate
7 Matter/Procedures to gain understanding

J09 Q1(a)
8 Discussion question
D08 Q3(a) Risk related to FV
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CHAPTER 7: EVIDENCE
Audit Evidence
1 D07 Q2(b)(ii) - Development cost
2 J08 Q2(b)(i) - Cost of investment
3 J09 Q3(a) – to use updated question from BPP - Leases
- FA HFT
4 D09 Q2(a) - Training cost
- Trade receivables
5 D10 Q3 - Compensation claim
- Impairment
- EARP
6 D11 Q3(a) - Decommissioning provision
7 J12 Q5(a) - Borrowing cost
8 D12 Q4(b) – to use updated question from BPP - Consignment inventory
(Robster06/09)
9 J13 Q3 - AHFS
- Sales and leaseback
- Licence
10 D13 Q3(a)(ii) - Impairment
- Provision
11 J14 Q3(a) - Impairment
- Related party transaction
12 D14 Q2 - Goodwill
- Loan
- EARP
- Intragroup
13 J15 Q2(a) – to use updated question from BPP for (a)(i) - Sales and leaseback
- Investment in Associate
14 MJ16 Q2(b)(ii) - Revenue
15 MJ17 Q4 - Cost of inventory
- Impairment
- Warranty provision
16 SD17 Q2 - Decommissioning provision
- Change in depreciation policy
- Trade receivables
17 MJ18 Q4 - Potential voting right
- Derivatives
- Intragroup
18 SD19 Q2(a) - Sale and leaseback transaction
- Investment property
- Shopping mall
19 M20 Q2(a)(iii) - Development cost
- Trade receivables
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20 MJ21 Q3(a) - Material uncertainty

- Purchased customer list
- Chairman statement
Audit Procedures
1 D07 Q2(c) - Amortization rate
2 D07 Q1(b) - Warranty provision
3 J08 Q3(b)(ii) - Related party transaction
4 D08 Q3(b)(ii) - Valuation on investment property
5 D08 Q1(b) - SBP
- DTA
6 J09 Q1(c) - Construction of asset
- Advertising cost
7 D09 Q5(b)(i) - EARP
8 J10 Q3(b)(i) - Additional funding
9 J10 Q1(c) - Investment
- GG
10 D10 Q1(c) - Brand
11 J11 Q3(b) - Opening balance
12 J11 Q1(b)(ii) - Related party transaction
13 J11 Q1(a)(i) - AHFS
14 D11 Q2(a) - Inventory
- Provision
- Current asset
15 D11 Q1(a)(ii) - SBP
- Lease
16 J12 Q2(b)(i) - Closure of factory
17 J12 Q1(a)(iii) - Goodwill
18 D12 Q1(b) - Insurance claim
19 D13 Q1(b) - Disposal of subsidiary
20 D14 Q1(c) - Brand
21 J15 Q3(b)(ii) - Impairment of goodwill
22 J15 Q1(c) - Short term investment
- EPS
23 D15 Q1(b) - Work in progress
- GG
24 SD16 Q3(b) - Related party transaction
25 SD16 Q2(ii) - AHFS
- Capital expenditure
- Payroll expense
26 SD16 Q1(c) - Classification of investment (JV)
- Licence
27 MJ17 Q2(ii) - Internal control
- New subsidiary
- Restriction on trade
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28 MJ 17 Q1(c) - Impairment of brand

- Planned acquisition of subsidiary
29 SD17 Q1(c)(ii) - Legal claim
30 S18 Q1(b) - Goodwill
31 D18 Q1(c) - GG
32 MJ19 Q3(b)(ii) - Cash settled SBP
- Regulatory penalties
- Property development
33 MJ19 Q1(b) - Impairment of factory
- Development cost
34 SD20 Q1(c) - Classification of investment (JV)
- GG
35 M20 Q1(b)(ii) - Sale of properties to GCEO
36 SD 20 Q1(b) - Segmental information
37 MJ 21 Q1(c) - Changes in fair value of timber
Sufficiency and appropriateness

1 D11 Q2(a)
2 D12 Q2(a)(ii)
3 SD16 Q2(i)
4 M20 Q2(a)(ii)
Work of others - Expert

1 MTC/Enquiries before reliance
D08 Q3(b)(i)
D14 Q3(a)(ii)
MJ19 Q1(c)
2 Procedures to assess adequacy of work

D11 Q3(b)
Work of others – Internal audit

1 MTC/Amount of reliance/Implication on audit
planning
D13 Q1(c)
SD16 Q1(b)
Outsourcing
1 Definition
D07 Q2(a)
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2 MTC/Impact to audit planning

D07 Q2(a)
J10 Q2(b) IA
J14 Q4(b) payroll
3 Benefit
J10 Q2(a) IA
Related party
1 J08 Q3(a) Why difficult to detect RP & RPT
2 J11 Q1(b)(i) Risk not able to detect RP & RPT
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CHAPTER 8: EVALUATION AND REVIEW – MATTERS RELATING TO SPECIFIC

ACCOUNTING ISSUES
IAS 1 – Presentation of Financial Statements

1. MJ21 Q3(a)(i) Material uncertainty
IAS 2 - Inventory
1. D12 Q4(b) – to use updated question from BPP Consignment inventory
(Robster06/09)
2. MJ17 Q4(a) Cost of inventory
IAS 8 – Accounting policies, Changes in Accounting Estimates and Error

1. SD17 Q2(b) Change in depreciation policy
2. SD 20 Q3(a)(i) 1st time adoption of IFRS 16
IAS 10 – Events after the reporting period

1. D09 Q5(b)(i)
2. D10 Q3(c)
3. D14 Q2(b)
IAS 16 – Property, Plant and Equipment

1. D09 Q2(a)(i)
IAS 23 – Borrowing costs

1. J12 Q5(a)
IAS 24 – Related party transaction

1. J08 Q3(b)(i)
2. J14 Q3(a)(ii)
3. SD16 Q3(b)
IAS 28 – Investments in Associates and Joint Ventures

1. J15 Q2(a)(ii) Associate
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IAS 36 – Impairment of Assets

1. D10 Q3(b)
2. D13 Q3(a)(i)
3. J14 Q3(a)(i)
4. MJ17 Q4(b) - Impairment calculation
- Allocation of impairment
5. SD19 Q2(a)(iii) Reversal of impairment
IAS 37 – Provisions, Contingent Liabilities and Contingent Assets

1. D10 Q3(a) Compensation claim
2. D11 Q3(a) Decommissioning provision
3. D12 Q1(b) Insurance claim
4. MJ16 Q3(b)(ii) Legal dispute
5. MJ17 Q4(c) Warranty provision
6. SD17 Q2(a) Decommissioning provision
7. MJ19 Q3(b)(i)(ii) Regulatory penalty
IAS 38 – Intangible Assets

1. D07 Q2(b)(i) Development cost
2. J13 Q3(c) Licence
3. MJ21 Q3(a)(ii) Purchased customer list
IAS 40 – Investment Property

1. SD19 Q2(a)(ii)
IFRS 2 – Share Based Payment

1. MJ19 Q3(b)(i)(i) Cash-settled
IFRS 5 – NCAHFS & Discontinued Operations

1. J13 Q3(a) AHFS
2. SD20 Q3(a)(i) Sale of division
IFRS 7/ IFRS 9 – Financial Instruments

1. J09 Q3(a)(i) – to use updated question from BPP FA HFT
2. D09 Q2(a)(ii) Trade receivables
3. D14 Q2(a) Loan
4. SD17 Q2(c) Trade receivables
5. MJ18 Q4(b) Derivatives
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IFRS3/IFRS 10 – Consolidated Financial Statements

1. J08 Q2(b)(i)
2. D14 Q2(c)
3. D14 Q2(a)
4. MJ18 Q4(c)
5. MJ18 Q4(a)
IFRS 13 – Fair Value Measurement

1. MJ19 Q3(b)(i)(iii)
IFRS 15 – Revenue from Contracts with Customers

1. MJ16 Q2(b)(i)
2. MJ17 Q5(a)(i)
IFRS 16 - Leases
1. J09 Q3(a)(i) – to use updated question from BPP Leases
2. J13 Q3(b) – to use updated question from BPP Sale and leaseback
3. J15 Q2(a)(i) – to use updated question from BPP Sale and leaseback
4. SD19 Q2(a)(i) Sale and leaseback
5. SD20 Q3(a)(i) 1st time adoption of IFRS 16
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CHAPTER 9: GROUP AUDITS AND TRANSNATIONAL AUDITS
Significant component
1. MJ18 Q1(b)(i) - Definition
- Qualify for SC?
Nature & Extent of involvement

1. MJ18 Q1(b)(ii)
Implication of acquisition of subsidiary on audit planning

1. J12 Q1(a)(i)
MTC/Procedures before reliance on work of component auditor

1. J10 Q1(b)
2. J14 Q1(b)
Comment/Matter to be considered on component auditor’s strategy

1. S18 Q1(c)
2. M20 Q1(b)(i)
Procedures for consolidation

1. J08 Q2(b)(ii)
2. J11 Q5(b)
Joint Audit
1. J08 Q2(c) - Definition
- Advantage
- Disadvantage
2. D12 Q2(b) - Advantage
- Disadvantage
3. M20 Q1(c) - Whether appropriate?
- Advantage
- Disadvantage
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Transnational audit
1. J09 Q2(d)(ii) Features
2. J09 Q2(d)(i) Definition, relevance
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CHAPTER 10: COMPLETION
Going Concern
1. Matter may cast doubt on GC
J11 Q2(a)(i)
D13 Q5(a)(i)
D15 Q2(a)(i)
D18 Q2(a)
2. Procedures/Evidence
J11 Q2(a)(ii)
D13 Q5(a)(ii)
D15 Q2(a)(ii)
D18 Q2(b)
3. Reasons why client refuse to disclose MU

D18 Q2(c)
4. Responsibility towards GC
D08 Q5(a)
Subsequent event
1. Responsibility
D09 Q5(a)
2. Question related to accounting standard can be found

within CH 8
Written representation letter

1. D11 Q5(b)(i)
Others
1. D08 Q5(b) Why client refuse to disclose
MU
2. D12 Q2(a) Why need to reassess
materiality, implication of issue
3. J14 Q3(b) Prior year misstatement
4. SD17 Q5(a) Type of misstatement & why
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CHAPTER 11: REPORTING
F1
1. J11 Q5(a) - Group - Provision
2. D11 Q5(a) - Development cost
3. D11 Q3(c) - Change in estimates
4. D11 Q2(a) - Inventory
- Provision
- Current asset
5. D12 Q5(a)(i) - Payroll, revenue, receivables
6. J13 Q5(b) - Trade receivables
7. J13 Q5(a) - Provision
8. D14 Q5(b) - MTD - SBP
- Restructuring provision
- Allowance for inventory
9. J15 Q5(a) - Revenue
10. D15 Q5(b) - Research expenses
11. MJ16 Q5 - MTD - Impairment
- Borrowing cost
- Irrecoverable debt
- Investment
12. SD16 Q5(b) - Military research project
13. MJ17 Q5(a)(ii) - Revenue
14. SD17 Q5(b) - MTD - Depreciation
- Related party
- Provision
15. S18 Q2(a) – MTD - Lease of testing equipment
- Legal claim
- Asset impairment
16. SD19 Q2(b) - Investment property
- Shopping mall
17. SD 20 Q3(a)(ii) - Sale of division
- 1st time adoption IFRS 16
F2
1. D08 Q5(c)
2. J11 Q2(b)
3. D13 Q5(b)
4. MJ 21 Q3(b)
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F3
1. D10 Q2(c)(ii) - OI
2. D11 Q5(b)(ii) - OM
3. D11 Q5(a) - OI
4. J13 Q5(c) - OI
5. J15 Q5(b) - OI
6. J15 Q5(b) - EOM
7. SD16 Q5(b) - EOM
8. SD 20 Q3(b)(ii) - OI
9. MJ 21 Q3(b) - KAM
- OI
Critically appraise/Criticize audit report

1. J09 Q5(b) - Opinion
- EOM
2. D10 Q5(a)(i) - BFO
- Opinion
3. J12 Q5(b) - Opinion
- BFO
4. J14 Q5(b) – to use updated question from BPP (Marr Co) - BFO
- Opinion
- EOM
5. D15 Q5(a) - BFO
- EOM
6. MJ18 Q5(b) - KAM
- BFO
- EOM
7. MJ19 Q2(a) - BFO
- Opinion
- MURGC
- OI
8. M20 Q2(b) - BFO
- Opinion
- EOM
Reporting to Management/TCWG
1. J08 Q5(a)
2. D10 Q5(b)
3. D11 Q2(b)
4. SD16 Q2(iii)
5. MJ18 Q3
6. MJ19 Q2(b)
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Others
KAM
MJ18 Q5(a) Benefit & difficulty
OI
D10 Q2(c)(i) Auditor’s responsibility
SD 20 Q3(b)(i) MTC/Comment on matter
MJ 21 Q3(a)(iii) MTC/Comment on matter
SD 20 Q3(b)(ii) Implication on completion
SD 20 Q3(b)(i) Auditor’s responsibility
AUTOSAE
D10 Q5(a)(ii) MTC, action
EOM
J10 Q5(a)(i) Definition, use
OM
J10 Q5(a)(ii) Definition, use
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CHAPTER 12: AUDIT-RELATED SERVICES AND OTHER ASSURANCE

SERVICES
Due Diligence
1. CAP
2. Procedures/Enquiries
D15 Q3(b)(ii)
SD17 Q3(a)(ii)
3. Additional Information
J11 Q4(b)
D13 Q2(b)
D15 Q3(b)(i) Valuation of IA
4. Why need to further investigate

SD17 Q3(a)(i)
5. Matter to be focused
D13 Q2(b)
6. Purpose
J08 Q2(a)(i)
D15 Q3(a)
7. Benefit
J08 Q2(a)(i)
J11 Q4(a)
D13 Q2(a)
8. Scope
J08 Q2(a)(ii)
D15 Q3(a)
9. Type of assurance
D13 Q2(c)
Others
1. Review FS engagement
D07 Q5(c) Differentiate assurance w audit
J09 Q3(b) Analytical procedure
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D12 Q5(b) Reporting

MJ16 Q4(a)(i) Differentiate assurance w audit
MJ16 Q4(a)(ii) Adv & Dis of audit vs review
MJ18 Q2(a)(i) CAP
D18 Q1(d) CAP
2. Review business plan engagement

D07 Q3(a), (b)
3. Audit engagement
D07 Q5(b) Benefit of FS to be audited
Page | 28
Let’s pass AAA!
CHAPTER 13: PROSPECTIVE FINANCIAL INFORMATIONS
CAP
1. J14 Q2(a)(i)
2. S18 Q3(a)(i)
3. M20 Q3(a)(i)
Appropriateness of forecast
1. SD16 Q3(a)
Procedures
1. D09 Q3(a)
2. J12 Q2(a)(ii) PLF, BSF
3. J14 Q2(a)(ii)
4. SD16 Q3(a) CFF
5. MJ18 Q2(b) PLF
6. S18 Q3(a)(ii) PLF
7. M20 Q3(a)(ii) CFF
Reporting
1. Critically appraise/Comment on report
MJ17 Q5(b)
2. Main content of report

D09 Q3(b)
Term of engagement
1. J12 Q2(a)(i)
Page | 29
Let’s pass AAA!
CHAPTER 14: FORENSIC AUDITS
CAP
1. SD19 Q3(a)
MTC/MTD/Steps in planning investigation

1. D11 Q4(b)
2. J13 Q2(b)(i)
Steps to investigate
1. D08 Q(b)(ii)
Procedures
1. J10 Q2(c) To quantify losses
2. D12 Q4(c) To quantify losses
3. J13 Q2(b)(ii) Claim amount
4. J15 Q3(c) Bribery payment
5. SD19 Q3(b)(i) To quantify inventory loss
Definition
1. D07 Q3(c)
2. D08 Q2(a)
Objective of investigation
1. D08 Q2(b)(i)
Page | 30
Let’s pass AAA!
CHAPTER 15: SOCIAL, ENVIRONMENT AND PUBLIC SECTOR AUDITING
CAP
1. D10 Q2(a)
2. SD 20 Q1(c)
Procedure/Evidence
1. D07 Q2(d)(ii)
2. D08 Q1(c)
3. D10 Q2(b)
4. D14 Q3(b)(ii)
5. D15 Q2(b)(ii)
6. MJ17 Q3(c)
Difficulty in measuring/reporting
1. J12 Q2(b)(ii)
2. D14 Q3(b)(i)
Relevance and measurability

1. D15 Q2(b)(i)
Difference between PERFORMANCE AUDIT vs AUDIT OF PERFORMANCE INFORMATION

1. MJ17 Q3(b)
Recommend KPIs
1. D08 Q1(c)
Level of assurance
1. D07 Q2(d)(i) Reason cannot provide high
level of assurance
Page | 31
Let’s pass AAA!
CHAPTER 16: CURRENT ISSUES
Data Analytic
1. SD 20 Q1(d) How DA enhance efficiency,
effectiveness & quality in audit
Exposure draft
1. MJ19 Q3(a) ED-540
Page | 32

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SET:

"Hard work beats talent

TUTOR: MISS AMANI

CHAPTER 1: INTERNATIONAL REGULATORY ENVIRONMENT FOR AUDIT

No. Past Year Question Remarks

2 Policies & Procedures (AMLA)

3 Stage/indicator of money laundering

6 Customer due diligence (CDD)/Know your client (KYC)

1 J10 Q2(d)(ii) Advantage, Disadvantage

CHAPTER 2: CODE OF ETHICS AND CONDUCT

No. Past Year Question Remarks

22 S13 Q4* - Business advice

44 D18 Q3(b)* - Taxation services

*represents the PYQ consists other question requirements as well

CHAPTER 3: FRAUD AND PROFESSIONAL LIABILITY

No. Past Year Question Remarks

2 Deficiency, how it contributes to fraud,

CHAPTER 4: QUALITY CONTROL

No. Past Year Question Remarks

Quality control procedures

*represents the PYQ consists other question requirements as well

CHAPTER 5: OBTAINING AND ACCEPTING PROFESSIONAL APPOINTMENTS

No. Past Year Question Remarks

Basis for fee

CAP Audit – Single entity

CAP Audit – Group entity

Why firm not seeking re-election

CHAPTER 6: PLANNING AND RISK ASSESSMENT

No. Past Year Question Remarks

Risk Of Material Misstatement – Single Entity

Risk Of Material Misstatement – Group Entity

Audit Risk – Group Entity

Audit Risk – Single Entity

4 MJ17 Q1(a) Cosmetic & beauty product

2 Implication/MTC on audit planning

3 Preliminary Analytical Review (PAR)

5 Evaluation audit planning

6 Audit strategy & Audit plan

7 Matter/Procedures to gain understanding

No. Past Year Question Remarks

20 MJ21 Q3(a) - Material uncertainty

28 MJ 17 Q1(c) - Impairment of brand

Sufficiency and appropriateness

Work of others - Expert

2 Procedures to assess adequacy of work

Work of others – Internal audit

2 MTC/Impact to audit planning

CHAPTER 8: EVALUATION AND REVIEW – MATTERS RELATING TO SPECIFIC

No. Past Year Question Remarks

IAS 1 – Presentation of Financial Statements

IAS 8 – Accounting policies, Changes in Accounting Estimates and Error

IAS 10 – Events after the reporting period

IAS 16 – Property, Plant and Equipment

IAS 23 – Borrowing costs

IAS 24 – Related party transaction

IAS 28 – Investments in Associates and Joint Ventures

IAS 36 – Impairment of Assets

IAS 37 – Provisions, Contingent Liabilities and Contingent Assets

IAS 38 – Intangible Assets

IAS 40 – Investment Property

IFRS 2 – Share Based Payment

IFRS 5 – NCAHFS & Discontinued Operations

IFRS 7/ IFRS 9 – Financial Instruments