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Not bad overall.
Struggled a bit on the repetitive question about substantive procedures Auditor needs to perform for a range of questions. Feel like I was just typing the same thing over and over again.
Didn’t structure very well. All amounted to about 20 marks so I hope I scored atleast a mark or two on each and made up with the rest of exam.We’ll see in 6 weeks time!
Failed an exam for the first time in my life! 35%
Quite jarring. But I’m a quantitative person, not very qualitative. Couldn’t wing this one like rest and rely on my maths skills.
I will be doing a lot of question practice for examples of answers. Hope to memorise enough of them to pass next time.
Damn you Audit, I will defeat you.
The 10 marker in Section C on Gears and Brakes made no sense at all to me.
They gave us the yearly production, and the total costs associated to it.
The brakes’ Direct Labour Cost was 125,000 while the Gears’ Direct Labour Cost was 250,000.
Then the case study said that Direct Labour Cost was limited to 375,000.Then they said that a new client wants 20,000 Brakes and 20,000 Gears; the case study specifically says that this would be on top of all the other production. They can alternatively import this from overseas.
But if production is limited by Direct Labour costs being 375,000, and the new client wants production on top of it, then surely ALL of the gears and brakes for the new client have to be outsourced to overseas? The normal production already takes up the Direct Labour Cost limit (125,000 + 250,000 = 375,000). So there is no room to make 20,000 gears and 20,000 brakes.
If anyone could explain where I’m wrong above that would be great!
