Forum Replies Created
- Posts
1. While reading ‘Read the mind of marker’, I noticed that marker did give some credit for knowledge. (M/J 18)
2. Will the calculation of ratio award me credit while typing audit procedures?
Dear Tutor
1. For example, a question on fraud or on NOCLAR?
2. In audit procedures, examiner normally don’t calculate materiality. What if I do?
“Hurling Co introduced a new bonus based on sales targets for its sales staff. This has resulted in a significant number of new wholesale customer accounts being opened by sales staff. The new customers have been given favourable credit terms as an introductory offer, provided goods are purchased within a two-month period. As a result, revenue has increased by 5% on the prior year”
Madam this is the extract.
Thank you for your response.
Furthermore, I wanted to ask whether there are set topics that are frequently examined in MTQS. As per the syllabus, there are not any.
Thank you.
It does. Just to confirm if we indeed use a detailed substantive test as the auditor’s response, would that be acceptable to the examiner provided it is relevant to the risk identified?
Dear Tutor,
In many Audit risk and response questions in Kaplan Revision Kit. The suggested answer has used this approach i.e Requesting management to apply/follow correct accounting treatment when it is currently wrong.
I would really appreciate if you may clear this confusion.
