Audit and Assurance 3 for ICAN Students By: Kabiru Yusuff Aremu ACA, ACTI 08169069670 @ Apex Professional

pex Professional Associates

ICAN Past Questions Guide and Index

Audit and Assurance - From November 2014 till date
Nov 2014 3. Internal control Issues
- Control activities
1. Audit Risks and Ethical Issue 4. Letter of representation
2. ISA 500 3 Audit Evidence and Substantive Procedure 5. ISA 200 - Overall objectives of independent auditor
3. ISA 300 3 Planning an audit and audit strategy - Rights of Independent Auditors
4. Fraud and Error 6. Internal controls in place from operation of on-line and
5. Threats to auditor9s independence real-time airline ticketing system
6. Audit of Partnership Accounts - EDI System and control applicable
7. Types of audit; vouching, system based audits and risk- 7. Audit of non-profit organization
based audits.
May 2017
May 2015
1. Analytica review
1. Audit Evidence and significant audit matter 2. Audit Evidence
2. Assurance engagement and Expectation gap 3. Safeguards to threats to independence
3. Engaging an independent auditor and difference btw 4. Audit exercise on Inventory
statutory and non-statutory audits, other services 5. Internal Control
rendered by Accountants - F.S Assertions
4. Internal Control System 6. ISA 230 3 Audit working papers
5. ICAN9s professional conducts and ethical issues 7. Analytical Procedure for substantive testing
6. Audit Evidence - Ratio Analysis for substantive testing
7. Internal Control System
Nov 2017
Nov 2015
1. ISA 315 3 Audit Risk
1. Internal Control System - Understanding Internal Controls
2. Audit Evidence 2. Value for Money Audit
3. Internal audit & Internal control procedure on inventory - Reliance of External Auditor on Internal Auditor9s
4. Scope and limitation of audit work
- Overall audit strategy 3. Internal Controls
5. Fundamental principle of duty of confidentiality - Controls around the computer system
- Resolving conflicts on fundamental pronciples 4. Threats to Independence and safeguards
6. Audit working papers 5. Audit work on confirmation from banks and receivables
7. Accepting non-audit assignment 6. ISA 240 3 prevention and detection of fraud
- 5 fundamental principle 7. Auditor9s resignation according to CAMA
- Rule-based and principle-based ethics - Duty of care
May 2016 May 2018
1. Audit work on Fixed asset and fixed asset register 1. Substantive procedure on additions and disposal of assets
2. Audit planning stage - Audit risks - Statutory books an auditor should audit
3. 5 fundamental ethical issues 2. Audit Evidence; Sufficiency and reliability
- Prof. and ethical issues in relation to non-audit 3. Internal Controls
services 4. Ethical Issues and Threat to independence
4. Weaknesses in internal control 5. Electronic Data Interchange (EDI)
- F.S Assertions 6. 5 Elements on assurance engagement
5. Audit Process 7. ISA 530 on Audit Sample
- Resignation of audit engagement
6. 5 types of control activities Nov 2018
- Tests of control and substantive tests
7. Information requirements before reaching audit opinion 1. ISA 315 3 Internal Control
- Business risks 2. Ethical issues with accepting competitor9s engagement
3. ISA 320 3 Concept of Materiality
Nov 2016 - Circularisation of receivable balance
4. Factors to consider when obtaining info on entity
1. Internal Audit - ISA 300 3 Audit Planning
2. Ethical issues regarding accepting an engagement
- Content of engagement; lowballing and tendering

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 Audit and Assurance 3 for ICAN Students By: Kabiru Yusuff Aremu ACA, ACTI 08169069670 @ Apex Professional Associates

5. Audit tests on intangible assets (Goodwill and 3. Accepting an Engagement

Development Projects) - Stages in audit exercise
6. Audit Evidence; Sufficiency and reliability - Roles of ICAN and FG on external audit regulations
7. Internal Audit 4. Internal Controls and IT Control
5. Audit Evidence
May 2019 6. Ethical Issues and threat to independence
1. Engagement Letter Nov 2021
-Weakness in Internal Control system
2. Interim Audit and final audit 1. ISA 700 3 Audit Report
- ISA 315 risk assessment - ISA 701 3 Key Audit Matters
- System based audit Vs and substantive approach 2. Audit evidence
3. Materiality and true and fair 3. Planning, Risk, Internal Control, Reporting and Audit
4. Features of audit report Evidence relating to audit exercise
- Exemption of small companies from Audit 4. 5 fundamental principles
5. External Confirmation of F.S items - Matters that affect Independence and Integrity of
6. Rule-based code of ethics auditor
- 5 fundamental principles 5. Analytical Review Procedure.
- Acting in the public interest 6. Resignation of Auditor from audit engagement and
7. Audit work on Inventory appointment of new auditor
7. System-based audits and CAATs
Nov 2019
May 2022
1. Objectives of external audit, Qualification, rights and
requirements of external auditor 1. Computer Audit Packages and CAATs
- Resp of Mgt and those charged with Governance .- Threats to IT systems
2. Expectation Gap 2. Ethics and fundamental principles
3. Acceptance of engagement 3. Audit Planning and Quality Control
- Reliability of audit evidence 4. Emerging technologies in audit practice
4. Internal Control Systems 5. Audit of Inventory
5. Audit working papers 6. Threats to independence and safeguards
6. Acting in the public Interest and prof skeptcism 7. Concept of materiality
- 5 fundamental principles
Nov 2022
Mar/Jul 2020
1. ISA 200, Scope of Audit
1. Qualification of a small company .- Role of Regulatory Bodies
- Benefits and limitation of audit 2. Audit Documentation
- Scope of a statutory audit 3. Engagement Letter and Agreement
- ISA 300 3 planning an audit 4. Audit Evidence
- ISA 315 3 Risk of Material Misstatement 5. Internal Audit
2. Professional Ethics 6. Purpose of Financial Statements
3. Internal Control .- Contents of Audit Opinion
4. Types of audit; Forensic, Compliance9 VFM, Info Sys. 7. Planning an audit
Audits
5. Assurance Engagement May 2023
6. Internal Control Systems 3 Practical Question
1. Mgt Letter of Representation
Nov. 2020 2. Rights and Duties of Auditors acc. to CAMA 2020
3. Confidentiality and Analytical Review
1. Internal Control and IT Control 4. Threats to Independence
2. Notes on some Audit Terminologies 5. Rights of Auditors and Respons. of Mgt
3. Assurance Engagement 6. Audit working paper
- Threat to Independence 7. Audit Documentation
4. Internal Audit Vs External Audit
5. Audit working papers and Audit sampling Nov 2023
6. FS Assertions
1. Engagement Acceptance & Conflict of Interest
May 2021 2. ISA 530 3 Audit Sampling
3. Fundamental Audit Principle
1. Internal Control, Audit Risks 4. Audit Risk
- Int9l Audit and Working papers 5. Audit of contingency
2. Substantive Audit Procedure 6. Audit of IAS 38
- FS Assertions 7. Advice on protest

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 Audit and Assurance 3 for ICAN Students By: Kabiru Yusuff Aremu ACA, ACTI 08169069670 @ Apex Professional Associates

May 2024 Nov 2024

1. Internal Controls 1. Objectives of external audit

2. Auditing Cash and cash equivalent - Audit Evidence and Analytical Procedure
3. Letter of representation 2. Internal Control Systems
4. Ethics and Public Interest 3. True and Fair View
5. ISA 200 - Independent Auditor - Materiality concept
6. Assurance Engagement - Independence of auditors
7. Key Audit Matters (KAM) 4. NOCLAR
5. Advanced Audit Software
6. Principal-Agent Relationship
7. Audit of accounts receivables