F8 Exam Tips 

Q16 to 18

• Audit planning.

• Audit risk （identification and explanation of audit risks from a scenario and explanation of the auditor’s response to each risk）。

• Internal audit.

• Internal controls （identification and explanation of deficiencies in internal control and the recommendation of suitable internal controls or descriptions of tests of controls）。

• Audit procedures （both substantive procedures and tests of control）。

• Pay attention to the verbs – ‘explain’ requires a sentence and will score one mark if properly explained, whereas ‘list’ simply requires you to list out information and will score 0.5 mark per point.

• Try to use a tabular format in your solutions where relevant as the examining team have stated that candidates who do this score better.