ACCA Advanced Audit and Assurance (AAA) Lectures
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1) Yes – in the published answer there is also the statement ” The identi?able assets of the business segment represent 5·7% of total assets (235/4,100 x 100%), so they are material to the statement of ?nancial position.”
2) See my answer to this post https://opentuition.com/topic/december-2018-answer-question-number-2-b-audit-evidence/
Hello!
I have 2 questions:
1) Referring to your method of materiality computation, my method is different. Eg: for Shelly’s cruises the total assets were 235/4100 * 100% = 6% therefore material. So is my method applicable in exams?
2) As per the question requirement on finding the evidence expected in the working papers, does it mean giving the audit procedures?
Thank you.