[abdullah9307]

@acca145 said:
While long questions were these ;

Q1(a) For inventory system (i)Key Controls (ii)Test Of Controls (Also scenario to be used) = 10 marks
(b) Deficiency and its recommendation (a scenario based one) = 10 marks
(c) Internal Audit Department uses if the company adopt one. = 5 marks
(d) Substantive Procedures for ” Accurals in respect of tax payable on employee income ‘. = 5 marks
Total = 30 marks

Q2(a) Auditors responsibilities in relation to preventing, detecting the frauds and errors in F/S. = 4 marks
(b) Audit risks and Auditor’s response ( Scenario Based Answer) = 16 marks
Total = 20 marks

Q3(a) Substantive Procedures for “Depreciation for PPE” = 5 marks
(b) Substantive Procedures for ” Directors bonuses” = 5 marks
(c) Substantive Procedures for ” ( I forgot 😛 , although I think it was for intangible assets?) = 5 marks
(d) Effect on audit opinion ( answer : it was material and finance director was not adjusting it hence the event was material but not pervasive so Audit report with qualified opinion. Auditor will provide basis of qualified opinion under audit report and for understanding of users about event will also provide Other Matters Of Paragraph ( as FD didn’t disclosed in F/S) = 5 marks
Total marks = 20

That’s all I can remember in respect of Long questions ,
Hope everyone passes with flying colors :).

Part c of question 19: Substantive process for Development Costs

[abdullah9307]

[Author]

Posts