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ACCA Advanced Audit and Assurance (AAA) Question Neeson
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anjibunnysays
Hi for (i) can we say that since the audit firm is a small firm there is a threat of self review as the firm will not be able to allocate adequate staff for both tax and audit departments separately. And so because there are no 2 different teams for tax and audit there is a self review.
The threat would be identified for all firms – the fact that a firm is then too small to implement appropriate safeguards would mean that the threat cannot be reduced to an acceptable level – so that firm would have to decline providing the asked-for service or withdraw from the audit.
Hi for (i) can we say that since the audit firm is a small firm there is a threat of self review as the firm will not be able to allocate adequate staff for both tax and audit departments separately. And so because there are no 2 different teams for tax and audit there is a self review.
The threat would be identified for all firms – the fact that a firm is then too small to implement appropriate safeguards would mean that the threat cannot be reduced to an acceptable level – so that firm would have to decline providing the asked-for service or withdraw from the audit.
Hello,
Where can I download Question Neeson? ACCA global website has only AAA past questions starting from 2016, while this one is dated 2010?
If it’s not in a current edition revision kit you can browse the internet and probably find it elsewhere – I found the answers here https://www.accaglobal.com/content/dam/acca/global/pdf/p7mys_2010_dec_a.pdf