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Audit risk and RESPONSE

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Audit risk and RESPONSE

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by Ken Garrett.
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  • December 2, 2014 at 6:23 am #215689
    barbara2012
    Member
    • Topics: 17
    • Replies: 44
    • ☆☆

    Hi

    Audit responses for question of Audit Risk, are audit work( ie substantive test etc)
    What sort of answer does the examiner look for to gain a full mark?

    For example
    If the risk is Valuation of inventory , because overvalued
    Response from examiner
    cost detailed testing and NRV test?

    Could i gain a full mark by saying the following
    The auditor should inspect the damaged inventory to assess actual damage, and calculate the NRV with the supporting documents( sales invoice and purchase invoice)

    Many thanks

    Barbara

    December 2, 2014 at 10:09 am #215836
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    That would be fine.

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