[victoriam1987]

There was nothing in Q1 that said it was a new client, it said the acquisition was a newly formed company not that the group was a new client. i was careful to check this as easy marks for audit risk! There were disclosures needed such as operating segments, discontinued operations. This exam was very different to past mock exams, lots of standards to discuss, i sat the UK version and i expect there wasn’t any difference between the International version due to the questions not being related to country specific ISA’s

[victoriam1987]

30 mark was the foreign entity, 20 marks was the pension one

[victoriam1987]

I put interest cover ratio would reduce due to the interest element of leases. Return on capital employed will reduce due to debt increasing and EBITDA will increase due to some elements of expenses being moved to Depreciation due to the right of use asset

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