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I think it is an associate based on the following example:
C holds 45% of the voting rights of D. The other 55% of D is held by two shareholders (each holds 26%), with the remaining 3% held by three other shareholders, each holding 1%.
C does not have power over D, because the two other significant shareholders (i.e., a relatively small number) could easily cooperate to outvote C. The size of C’s holding, and size of that holding relative to other shareholders, would not give it power.I don’t know if it is correct, but that’s what the thing was in my mind during the exam….
@iraitis said:
Is it worth doing the administrative review? Felt like I should have passed.Somebody said the administrative review is meaningless but wasting bucks.
@aynat777 said:
NO “Substantive Procedures for ” Directors bonuses””, for example, and NO “Auditors responsibilities in relation to preventing, detecting the frauds and errors in F/S. = 4 marks”,
and Impact on audit opinion was related to Loan-80000$, and this point was pervasive for FS,for me, I have got both question about directors bonus and responsibility of auditor to prevent and detect;and
impact on audit opinion was related to R&D of $50000 wrongly treated as capital expenditure, and its material to the financial statements, but i am not sure if it is pervasive to the financial statement after I calculated the materiality to total assets of 1.1% & to Profits Before tax of arround 6.1%;@ayeshatabani said:
Is management required to provide a written representation on auditor’s independence from company?I said “no”;
but I am not sure if it is correct.nothing special.
I am a full time employee.I did every past paper I could find in ACCA Website, and the BPP exam kit 2017 after work and weekend.
got 54% first attempt finally.
@paata1971 said:
Where was the question with cash flows with 20% and 15% chance? I don’t think that question was on my exam. Did you sit paper or computer based exam? Can it be that the questions were not same for all students?we are the candidate sitting at paper….
