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Passed 53% . Thanks Opentuition..

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It was ok but time pressured. I hope i have done good to secure a pass. The topics tested were below. I don’t remember some of it .

Q1 Audit Risk
a. Shared based payment
b.
Q1 Audit evidence

Q2

Q3 Matters to consider and evidence required

Q4 Ethical matters during audit

Q5 Matters to discuss with management

Q5 Its effect on audit report if not amended.

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Thanks for the clarification..

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Hi John,

I was going through the answers of Q1 part (b) of June 2015. My question is in making the cash flows as per the suggested answer we are taking contribution earned on part sales as a cash inflow for the parent.

My understanding was as this is a group and they have a transfer price on it. Is it really a cash inflow for Parent i.e Imoni Co.? The reason i can come up with is because Yalandwe has taken it as a outflow for tax calculation we have to reverse the contribution part.

Let me know if my understanding is correct or i messed it up.

[Author]

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