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@muneebnawaz90; the conclusion the question is replying is a negative assurance…..from my resources, due diligence gives a negative assurance “nothing has come to light to suggest errors in the financial statements” since a proper audit wasnt carried out. However, for an audit opinion, because a proper audit is carried out on historical figures, you can conclude with a modified or unmodified opinion.
Hope that helps!
sorry am not a lecturer, am not sure about getting marks but they are totally different answers.
Example of Audit procedure: Review management meeting minute to make sure the disposal was made at the said date and at the amount recognised for accuracy.
Example of Audit evidence you expect to find: I expect to find a copy of management meeting minutes detailing the date and amount of disposal.
Hope that helps.
Well i was able to finish the exam 5 minutes before time up, Alhamdulilah, thank God for time management practice after time went against me in my first sitting. Best way to manage your time is not to start with Q1, i started with section B, i answered questions 3 and 4 in one hour and i quickly rushed to question 1 where i was able to answer all the questions there too and finally question 2 for the remaining 45 mins i had. Due diligence was quiet challenging but i made sure to supply an answer for every question, this should help me. However am mostly concerned about ACCA receiving all my answer booklets because i used an extra booklet but i felt the invigilator didnt secure both booklets properly.
Above all, i thank God and i have a good feeling am passing this time around and am done with ACCA 🙂
All the best to everyone!!!