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Associate Level – Principles of Auditing
5 sections available · 24 chapters available
Free Associate Level – Principles of Auditing study notes for HKICPA QP (Hong Kong CPA) students. Each chapter breaks down a key concept with examples and practice prompts you can turn into AI drills in the thinka app.
Describe and Apply the Professional Standards and Guidelines Applicable to an Audit
Key principles of professional standards and guidelines
Corporate governance framework and its impact on auditing
Legal and regulatory framework
Anti-Money Laundering and Counter-Terrorist Financing requirements
Sustainability assurance engagements
Explain the Nature and Purpose of Auditing
Nature and objective of conducting an audit
Roles and responsibilities of an auditor
Explain and Analyse Audit Approach and Planning
Importance of understanding a client's business
Importance of internal controls
Risk assessment, inherent risk, control risk and audit approach
Design of an audit approach
Prepare the overall audit plan and audit programme
Audit sampling for tests of controls
Audit sampling for tests of details of balances
Audit of computerised systems
Sufficient and appropriate audit evidence
Use of the work of others
Apply Audit Procedures to an Audit
Importance of audit planning and its documentation
Relationship between materiality and risk
Audit procedures for different business cycles
Major actions during the completion of an audit
Prepare an Auditor's Report
Basis of an auditor's report
Circumstances requiring modification to an auditor's report
Circumstances requiring modified audit opinions
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