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Just wanted to say “Thank You” to Ken Garrett for his lectures and great practical examples throughout the course.
Now we have to wait for the results
MCQ question about NED motivation/independencentre and their remuneration..? Anyone remember their answer?
@acca145 said:
what was answer of numerical payroll question?I think that was 16.74m
17m less 10% = 15.3
payrise add 6% x 10/12 = 0.765 = 16.065
bonus add 1500 x 450 = 0.675 = 16.74@nas29 said:
Why 10/12??The payrise was effective 1st Jan. Year end was 31st Oct.
@sarabella said:
I think that was 16.74m17m less 10% = 15.3
payrise add 6% x 10/12 = 0.765 = 16.065
bonus add 1500 x 450 = 0.675 = 16.74why 10/12?
@sarabella said:
The payrise was effective 1st Jan. Year end was 31st Oct.Ah ok 🙁
I found exam pretty tough. The last question and Internal Control Deficiencies relating to Cash were tough. Mcq were also tough as well as last part of substantive test.
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I do, at first I chose C, but last minute I changed my mind and ticked D, which was motivation/according to their performance. I still wonder what the right answer is.
I got the same for the payroll question and I the question with the Ned based on time worked not the same as executive director. Not sure if it was right or not. Found the mcq fairly easy
sarabella, your payroll calculation is right. I did the same but I calculated bonus by multiplying with 500 instead of 450, 2 marks gone 🙁
I chose the lady as Internal Audit Manager because she had audit experience, the consultant had setup internal controls but it was never mentioned that he had audit experience.
I guess for IA Manager it is a requirement to have audit experience.
was in not some thing like what Ant & Co. should have considered before accepting the audit? which meens pre conditions?? no?? im really confused 🙁
what are the two control objectives for cash receipts control system? Question 18 (a).
Was the question in 1st long part a) was about client acceptance screening or preconditions?
I think it was both, I wrote bit of both client screening and preconditions 🙂
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