12月ACCA F8考试复习重点指导.docVIP

12月ACCA F8考试复习重点指导 Key definitions in F8 Part A ? 　　The objective of an audit of financial statements is to enable the auditor to express an opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework. ? 　　An assurance engagement performed by a practitioner will consist of the following elements: ? 　　(a) ?A three party relationship. The three parties are the intended user, the responsible party and the practitioner (each party is described in the Key terms box below). ? 　　(b) ?A subject matter. This is the data to be evaluated that has been prepared by the responsible party. It can take many forms, including financial performance (eg historical financial information), non-financial performance (eg key performance indicators), processes (eg internal control) and behaviour (eg compliance with laws and regulations). ? 　　(c) ?Suitable criteria. The subject matter is evaluated or measured against criteria in order to reach an opinion. ? 　　(d) ?Evidence. Sufficient appropriate evidence needs to be gathered to support the required level of assurance. ? 　　(e) ?An assurance report. A written report containing the practitioners opinion is issued to the intended user, in the form appropriate to a reasonable assurance engagement or a limited assurance engagement. ? 　　Principles of the UK Corporate Governance Code ? 　　? Leadership ? 　　- Every company should be headed by an effective board, which is collectively responsible for the long-term success of the company. ? 　　- There should be a clear division of responsibilities at the head of the company between the running of the board and the executive responsibility for the running of the companys business. No one individual should have unfettered powers of decision. ? 　　- The chairman is responsible for leadership of the board and ensuring its effectiveness on all aspects of its role. As part of their role as members of a unita