Answering questions

Basically, it’s one mark per sentence, one markable point per sentence, one sentence has one (and only one) markable point

2 marks = 2 sentences
3 marks = 3 sentences
4 marks = 4 sentences
8 marks = 8 sentences
10 marks = 10 sentences
16 marks = 16 sentences

How to avoid missing obvious marks …

Spend an appropriate length of time planning your answer – write down an answer plan in “one word format” sufficient to remind you of that thought when it comes to writing out your answer

Now look to see how many points have you planned and compare that number of planned points with the marks available for that question / part question

50% or above – acceptable
<50% – not acceptable

And if you’re in that bracket of “not acceptable” then you clearly need more points – so what have you missed

Maybe apply a check-list approach where you mentally fly through a list of commonly-appearing points in auditing answers

You can make your own list but here are some ideas to start you off

Accounting entries
Accounting Standard implications
Audit Committee
Board minutes
Discussions with management
Internal auditors
Internal controls
Last year’s brought forward amounts
Last year’s file
Materiality
Third party certificates

Add to this as you feel appropriate but that should give you a good start point

OK?