auditors actions

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  • Profile photo of saadahmednangiana
    saadahmednangiana
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    hello sir,
    kindly if you can help me with the following question it will be your kindness,
    Q, what actions which may be taken by auditor where a modified report is issued?


    Profile photo of MikeLittle
    MikeLittle
    Keymaster
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    I really do not believe that your question is specific enough. For example, I could have said “The auditor may go for a celebratory meal” or “The auditor may take her boyfriend to the cinema” or even “The auditor may try to attain the qualifying time for the Olympic 100m freestyle swim competition”

    But I won’t say any of those. Instead, I’ll ask you what exactly do you mean. As a P7 candidate, you’re going to need to be more precise in your writing when you’re in that exam room!


    Profile photo of saadahmednangiana
    saadahmednangiana
    Participant
    • Topics: 2
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    sorry for the above post sir

    really sorry sir if my question wordings were not ok,
    actually its a new area incorporate by our p7 examiner and i am having p7 left in my acca and i failed it two times at 43,
    when i download new study guide i read that area with same wording as follows and i got confused and thought you as my last hope to clarify me on this particular matter,
    the exact wordings from the study guide are

    “actions which may be taken by the auditor where a modified report is issued”

    sir please can you also refer me some extra tips for the exams that how can i improve my performance in the exam and get a good pass, i have covered all the syllabus and practicing the questions on all areas,
    please sir your advise matters a lot for me, i shall be waiting for you kind response
    saad


    Profile photo of saadahmednangiana
    saadahmednangiana
    Participant
    • Topics: 2
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    sir please i also need p7 mock can you refer me for this that where can i get it,


    Profile photo of MikeLittle
    MikeLittle
    Keymaster
    • Topics: 1
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    Saad, I’m sorry, I cannot help you with the mock exam request. We do not produce mock exams on OT.. I’m working away at the moment and do not have to hand any P7 material. But I seem to remember an article by Lisa in Student Accountant. I may be wrong, but can you not get hold of a reputable study text and read the relevant extracts?

    Off the top of my head, further actions ( I presume ) could include things like
    communicating with those charged with governance ( audit committee )
    communicating with the parent company / group auditors,
    communicating the reason for the modification to the executive board of the client company,
    possibly resignation ( where mutual trust has broken down between the client’s executive and the auditor ),
    possibly communication to “the relevant authority” where criminal activity is suspected – though that’s a bit late because we have already modified the auditors’ report so the publication of that report would have tipped off the offending board,
    exercising the auditors’ right to attend, speak and be heard at the Annual General Meeting


    Profile photo of saadahmednangiana
    saadahmednangiana
    Participant
    • Topics: 2
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    thank you really very much for your kind support, now i have got is main theme and as per your order i shall be consulting other text too, but i am sure you have guided me correct,
    regards and thank you again.
    saad


    Profile photo of MikeLittle
    MikeLittle
    Keymaster
    • Topics: 1
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    You’re welcome

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