[Driele]

Passed first attempt 58 marks
Still can’t believe! Thanks Opentuition team!

[Driele]

As far as I remember:

Question 1
a-Identify Business risk (12 marks)
b-Identify RoMM (18 marks)
c- Audit procedures for advertising expenses and goodwill (10 marks)
d-Audit committee responsibilities during audit (6 marks)

Question 2
1-Matters to consider, adjustment need and audit evidence during quality review
a-Hotel revaluation – changed from carrying amount to FV (depreciation has been reversed to P/L and revaluation surplus understated?)
b-Borrowing cost capitalisation (capitalised 12 months instead of 8 months?)
c-Revenue recognition – 10% non refundable deposits received in advance recognised to the P/L when received (instead of liability)
2-Ethics

Question 3
Provision of a number of non-audit services to 2 clients (1 listed and 1 not listed) and ethical issues

[Driele]

Failed first attempt with 47!! Couldn’t believe, the exam didn’t seem that bad…

[Author]

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