[muhammadsaad]

Assertion is given by directors , in simplest words giving assertion is to say ” We think the amount and account balances in the financial statement are true” , Auditors are there to verify their assertion by means of collecting sufficient and appropriate evidence supporting the assertions.
Dont know what you do you mean by financial statement level? are you talking about risks?

[muhammadsaad]

<cite> @mikelittle said:</cite>
Thanks Rajiv 🙂

Very nice , Thanks

[muhammadsaad]

I appreciate your advice but I am just wanna standardize framework to write down the answer.

[muhammadsaad]

^Wont get any marks for the first 2 points.

[muhammadsaad]

Ofcourse it wont work like that but atleast it gives me a framework to base my answer , because in exam situation I just get bamboozled by the pressure and forgets from where to and how to start. So kindly plz give me a frame work to write down the answer , I know I do get it right in my mind (both ethics and Audit report question) but some how I dont know what to write in the answer sheet.

[muhammadsaad]

Most likely I will have to make 8 points for Audit report questions and 6 to 8 points to score passing marks in Audit Report and Ethics question respectively.

[muhammadsaad]

Also you have explained brilliantly what thinking process should I use when tackling the audit report question and I am very thankful to you , but plz tell me in steps what points should I write down in explaining the above mention thinking process to score the passing marks.
Also plz tell me the steps of both the thinking process and write down procedure for Ethics question
Thanks.

For eg (points I used to write down the answer in matters to consider are)
1)Materiality calculation and a bit chat on it.
2)Correct accounting treatment for the matter
3)Whether three is a breach of any IAS
4)Impact on audit report if breach is not resolve.

Thats it , good enough for me to score passing marks ,
Plz tell me in the above mention way on how to tackle Audit report and Ethics question , I will be really greatful to you.

[muhammadsaad]

Exactly I just dont know how to build up enough material to score passing marks , when I see the question and Its instantly clicked on my mind “Well this is a qualified opinion because of limitation on scope” and thats it , I dont know how put solid reasoning behind my opinion to convince the examiner to give me passing marks , Just plz tell me how to start the question and give me steps on how to put reasonable supportive arguments to base my opinion.
Also the same problems occurs when handling Ethics question as well , I do know whats wrong in the situation and I do know how to handle the problem as well , but I dont know how to write it down with a convincing reasoning and enough points to score passing marks.

[muhammadsaad]

I used hybrid differentiation in 1c as the shoal plc will make a use of backward integration to control cost by providing fish to captain haddock and since the brand is already recognized in the public it will result in hybrid differentiation i-e keeping cost low and also differentiate the product with the help of brand. Am I wrong?

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